THE FEDERATION HAS MOVED

NEW MAILING ADDRESS:
THE FEDERATION OF NEW YORK COOPERATIVES
61-20 GRAND CENTRAL PARKWAY SUITE C1100
FOREST HILLS, NY 11375

NEW TELEPHONE NUMBER: 718-760-7540
NEW FAX NUMBER: 718-699-5618

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PRESIDENT'S MESSAGE FROM NEW FEDERATION BOARD PRESIDENT AL PENNISI

November 13, 2000

Dear Members: I was elected your President during a period of great sadness in our organization.

In the past three years we have suffered two tragic losses, that of Charles Rappaport in August of 1997 and Eva Rappaport in August of 2000.

Con Ed: What's Wrong with This Picture? Greg Carlson's letter to the NY Post

I will, as your President, attempt to fill the shoes of two wonderful people, that words alone are insufficient to describe. Their contribution to this organization, the cooperative movement and to the lives of countless thousands of people, will continue to inspire us all in the years to come . As I write this letter of introduction and greeting to you, I know that Charles and Eva, would be telling me that we must now collectively work together to continue the work of the Federation, which they nurtured to the success that it has become.

In 1997, the Mayor of The City of New York signed into law a tax abatement for cooperatives and condominiums. This abatement was the culmination of the tireless efforts and lobbying of Charles and Eva Rappaport.

The tax abatement law will expire in June of 2001.

The abatement is calculated as a percentage of the eligible residential portion of the taxable assessed value of the building as follows:

FISCAL YEAR	AV/APT. Less than or = to $15,000.00	AV/APT. Greater than $15,000.00
1997	Up to 4%	Up to 2.75 %
1998	16%	10.75%
1999	25%	17.50%

The tax abatement was targeted to give residents of cooperatives and condominium units a total abatement of $120,000,000.00 through fiscal 1999.

The abatement was extended to June 2001.

This abatement has been extremely beneficial to our cooperative and condominium members. However, now is the time to begin our efforts to work together, to extend this abatement starting July 1, 2001.

The Federation can only be successful with the help of each and every member cooperative and condominium. Your support is vital.

I will be writing to you in the coming months to update you on our progress. We will schedule meetings in each borough.

We have been and will be successful, through our strength in numbers.

Very truly yours,
Albert F. Pennisi, Federation President

THE NATIONAL ASSOCIATION OF COOPERATIVES HONORS EVA RAPPAPORT

During October 26th thru the 29th the National Association of Housing Cooperatives (NAHC) held its 40th annual conference in Washington, DC. This NAHC conference was dedicated to the memory of Eva and her commitment to cooperative housing. At the conference opening, Herbert H. Fisher, NAHC chairman emeritus, gave a heart filled dedication, for which he received a standing ovatioion from the several hundred people in attendance. Mr. Fisher also took out a memorial advertisement in the official NAHC program "In Remembrance of Charlie and Eva Rappaport". NAHC purchased a twenty-four-hour art glass candleholder from the Holocaust Museum in a special flame designed by Georges Gotlib, a Holocaust survivor. After the dedication the candle was lit. The flame burned for the entire conference. During Saturday business meeting, NAHC presented the candle to Eva's children in attendance, son Jay Rappaport and daughter Edie Amorese and her husband Joseph. In addition, a "tree of life" jeweled pin created in Brooklyn by two Israeli artists, graduates of the Bezalel Academy of art in Jerusalem was given to the family. Edie spoke for the family, remembering the accomplishments of their parents during their NAHC tenure.

On behalf of the Federation's Board, staff, members, and the Rappaport family, we would like to thank from the bottom of our hearts the NAHC staff, Board and the membership for a memorable memorial. A special thanks of deep gratitude goes to Herbert H, Fisher, a long time family friend and colleque, who made this conference a successful one.

FEDERATION HAS A NEW PRESIDENT AND EXECUTIVE DIRECTOR

At the Federation's Board of Directors meeting of Wednesday, October 4, 2000 the following were elected to new capacities:

ELECTION OF OFFICERS:
Al Pennisi -- President
Al Volpe -- Executive Vice President/Treasurer
Harvey Rubin -- Secretary
David Buchwalter -- Vice President
Greg Carlson -- Executive Director

Good luck to the new officers and staff.

44th ANNUAL SEMINAR AND TRADE SHOW FOR COOPERATIVES AND CONDOMINIUMS

Due to the transition period and other factors, the Board of the Federation has decided to move the date of the show to Sunday, March 25, 2001. Mark your calendar now! The Federation will celebrate the real new millennium with the longest running trade show and seminars in the real estate industry. If your Cooperative or condominium pays for three or more directors to attend the Trade Show and Seminar, Your Board President comes free of charge. Here is an opportunity to see several vendors in one location. You can prequalify them to see if these vendors are right for your building. Best yet - Lunch will be provided.

MARK YOUR CALENDAR FOR SUNDAY MARCH 25, 2001

FCC ISSUES NEW REGUALTIONS

In what the Federal Communications Commission (FCC) calls fostering competition and consumer choice, it has new regulations. To reformilureise yourself to the rule, here's a quote from the Federation's October 1998 issue.

"On September 25, 1998, the FCC issued Order No. 98.124, in regards with restriction and/or regulations of resident installed antenna and satellite dishes. In a nutshell, the only area the resident may install antennas and satellite dishes is in their own apartment and if they have "exclusive use or exclusive control" (balconies, terraces, decks and patios). The cooperatives and condominium associations can restrict even that area as it relates to public safety. Cooperatives and condominium associations can regulate and even prohibit antenna and satellite dish installation on exterior walls and roofs."

The new Order is now extended to antennas that receive and transmit telecommunications and other fixed wireless signals. This ruling treats these types of antennas (usually wireless internet antennas) as the same as wireless dishes (like Direct TV).

In addition, the FCC was considering opening up all buildings to a cable service providers and the Board could not say no. The FCC issued a ruling that in commercial buildings, telecommunication service providers are prohibited from entering into exclusive contracts with neither owners nor commercial building owners who put any restrictions from permitting access to any telecommunication service provider.

As far as multifamily buildings (cooperatives and condominiums), the FCC is working with a real estate coalition called "Real Access" in bring about a best practices implementation plan to foster competion. If the FCC is not satisfied with the coalitions efforts, they will issues rules and regulation to bring about the desired result.

A third item was the location of the demarcation point of a building. This is like where does Verizon's telephone line end from the street into the building. This is a very complex issue.

For detail of this ruling please go to the FCC web site at WWW.FCC.GOV and under "FCC releases item on Multi Tenant Environment" date 10.25.00, you can print out the 135-page ruling.

JUDGE KNOCKS OUT NEW LEAD PAINT LAW

The Federation's Attorney, Howard Schechter, of Schechter & Brucker, P.C. recently issued the following memo to their clients, which we believe sums it all up.

"Last November we sent a memo to you regarding the new law passed by the New York City Council regarding abatement and repair of peeling lead-based paint and of deteriorating subsurfaces covered with lead-based paint (Local Law 38 of 1999). The law imposes significant new obligations on owners of multiple dwellings in New York City, including cooperatives and condominiums.

"You may be hearing in the press about a court decision just rendered by a judge in Manhattan invalidating the new lead-based paint law on the grounds that environmental review procedures mandated by law were not followed by the City Council prior to its enactment. The decision is not yet effective, as the judge has not signed an official "judgment" invalidating the law.

"Attorneys for the City have informed us that once the judgment is signed, they will immediately file a notice of the City's intention to appeal the decision. While we expect there to be some procedural skirmishing during this period as to whether or not the law remains in effect during the time the appeal is pending, we believe that the invalidation of the law will not become a reality until the appeals process is exhausted. We therefore recommend that in the meantime, owners and their agents should continue to comply with the law until further notice."

TAX ABATEMENT INFORMATION IS SOON ON ITS WAY

On or about November 15, 2000 the Department of Finance will be mailing to the designated person the abatements covering July 1, 2000 to June 30, 2001.

IMPORTANT--THIS IS THE LAST ROUND OF ABATEMENTS; WE NEED TO ADVOCATE TO THE CITY AND STATE TO EXTEND OUR MOST NEEDED REAL ESTATE TAX ABATEMENTS.

NEW MEMBERSHIP SERVICES

A BULK OF THE FEDERATION'S TIME HAS BEEN DEDICATED TO OFFERING OUR MEMBERSHIP SERVICES THAT MAY HELP TO SAVE YOU MONEY OR HELP YOUR BUILDING.

THESE SERVICES ARE AS FOLLOWS:
The Federation's web site is now online in its infancy stage. We will be mailing to all our members, an opportunity to list their building's information at our web site. Right now, the site provides a legal corner, event list with links to other cooperative sites, legislative issues, a question and answer page where you can ask your questions directly to the Federation and the Federation Newsletter. Please visit our site at WWW.FNYHC.ORG, let us know what you think and don't hesitate to ask us questions.

The Federation has started a list server forum. This is a place were you can go on the Internet and exchange ideas, experiences and to gather information for you cooperative. It's the Federation's "Co-op Forum" and it's free to join. To subscribe to the "Forum", simply go to the Federation's web site (WWW.FNYHC.ORG); you will see a box about joining. Just follow the instructions and you are part of the "Forum". When someone writes to the forum, you get an email to all those who subscribe. You can answer, give your opinion, or just read the email. The Federation will oversee the "Forum" to ensure that correct answers are being given and the emails are about cooperatives and condominiums. Please join now -- and be part of this new exciting experience.

The Federation has signed on to the Durnan Group Managers Workers Compensation Safety Group. One of the line items' on all of our member buildings with staffs is workers compensation insurance. The Federation has been studying different workers compensation insurance providers and has concluded that the Durnan Group best fits the needs of our membership. With discounted premiums up-front and a substantial dividend at the end of the year, this makes the safety group the best deal around. Each claim is investigated thoroughly, which is why this group can offer the best workers compensation package in the state. To find out more information or to sign up, please call the Durnan Group Managers at 1-212-768-9191 and make sure to tell them you are a Federation member.