In early August, the New York State Legislature adopted the state budget that included a two-year extension of the real estate tax abatement for cooperatives and condominiums at present rates. Those cooperatives and condominiums that are already in the program and have sent their updated information to the New York City Department of Finance do nothing. Those buildings, which have not participated in the real estate tax abatement program before, but would like to do so now, can call the Department of Finance at 212-669-3212. Information detailing the individual unit various abatements and exemptions (real estate tax abatement, Enhanced STAR, STAR [first time], Veterans and Senior Housing Exemption) will be mailed to the designated contact person near the end of the year, at this time it is estimated sometime in November. The Real Estate Tax Abatement will be reflected in the revised January 2000 tax bill retroactive to July 1999. A Cooperative Board must pass the abatement to its’ qualified shareholders by June 30, 2000.

LEAD-BASED PAINT UPDATE

FEDERAL — As of June 1, 1999, if your building was built before 1978, you fall under the Federal Environmental Protection Agency’s (EPA) Renovation Disclosure Compliance. As of June 1, 1999 any renovation (or any person performing renovations for compensation) must give the affected unit(s) a lead hazard information pamphlet and obtain a signed acknowledgment from each recipient. This new regulation will place another layer of paperwork on the building. Additionally, there are some ambiguities in the regulations that EPA officials say they will make clear. Painting over paint in preparation of new tenants, minor spot scraping or sanding (less than two square foot area) is not considered a "renovation". Washing down walls is not surface preparation.

NOTICES - Renovation activities preformed on a cyclical or recurring basis may be grouped into a single notice. Requirement - list expected starting and ending dates or may group all renovation activities over a sixty-day single notice distributed every 60 days. Any activity held over can be addressed in the next notice.

DATES - Exact dates may not apply, terms like "on or about", "early" or "late" are acceptable.

The required acknowledgment from a resident may be included on work order form.

COMMON AREA RENOVATIONS

In large buildings (50 or more units) notices go to "affected units" only ( e.g., a hallway only goes to those on the floor) and posting of placards at renovation work site stating the same information as the

individual notices. Two things are now clear. 1. If an outside contractor is paid, the EPA will be looking to the contractor’s records for compliance. 2. If the building’s staff or agent’s staff does the work, EPA will look to the building or its agent for compliance.

NEW YORK CITY LEAD PAINT BILL

Buildings affected — pre 1960 multi family buildings.

Highlights:

· Lead paint hazard — peeling paint or deteriorated surface where a child six years or younger resides.

· Obligations — you must send out an annual notice to find out if a child six years or younger resides in an affected unit. Upon notification from the resident that a child six years or younger resides in a particular

unit that unit must be inspected.

· Inspection- If a child six years or younger resides in a unit, an annual visual inspection looking for peeling paint or deteriorated surface must be done.

· You have a lead paint hazard- it become a class "c" immediate health hazardous violation. Work must be done in a very short prescribed period of time.

· Work methods — some of which are neither dry scrapping nor sanding. Minimizing the generation and spread of dust, covering of furniture and floor areas, vacuuming or wet mopping of all affected areas at the end

of each and every day while performing the work. A dust wipe test must be preformed at the end of the job.

· Time element — work must be done 21 days after receipt of violation, an extension for an additional 15 days is allowed after that "HPD" is required to do the work under more stringent rules.

· Vacancies- all peeling paint or deteriorated surface must be wet scraped, hepa vacuumed or washed with detergent and repainted, floors must be smooth and door, windows, and cabinets must be adjusted so that

painted surfaces will not bind.

· Defenses if sued — resident never responded to the notification and you had no knowledge of a child six years or younger residing in the unit and no access for doing the work.

· HPD and Department of Health — they are designated to issue rules and regulations to enforce the legislation.

GUESS WHO IS TRYING TO TAKE CONTROL OF YOUR PROPERTY

The Federal Communications Commission (FCC) once again is pushing for a proposed rule known as the "forced entry" rule. If adopted this will have a large impact on cooperatives and condominiums. This rule will require buildings to allow multiple telecommunication service providers to enter freely and use the property to sell services to residents without consent thus, taking away any negotiation leverage the Board may have. The FCC is bowing to the pressure of the telecommunication service providers. Individual tenant shareholders and owners can help by writing to your House of Representatives legislator and Senators Moynihan and Schumer. Do you want your hallways looking like the back of your entertainment centers i.e. wiring all over the place? ACT NOW!!

Web Site Production and Design By: