After I left the presidency in November of the co-op board of my building on Manhattan’s Upper West Side, resigning as a member as well, I posted an item about my several reasons. They had to do with the other six members’ propensity for laziness, rudeness, passive-aggression and their general inability to assume the heavy fiduciary responsibilities to which they had been elected.
I have no reason to doubt the validity of what I heard on the grapevine the other day confirming my observations: The board has voted to institute a 6.5 percent assessment.
On the surface, there’s nothing wrong with an assessment if it is to fund an unforeseen or otherwise unusual expense such as a new roof, elevator replacement or new windows.
But this assessment, (more…)