SORRY ANDRE
The settlement provides for $ 100,000.00 per month for 24 months = $ 2,400,000.00
However the first $ 1,200,000.00 comes FROM the existing Resident RESERVE -1,200,000.00
That leaves a balance of money to us of only 1,200,000.00
The next step is a reimbursement for out of pocket legal expenses + 600,000.00
Which looks an awful lot like the ORIGINAL PROPOSAL 1,800.000.00
EXCEPT we spent $ 600,000.00 to obtain this settlement!
Except we now receive FORGIVENESS for the 2006 & 2007 Business interruption Insurance of
$ 152,000.00, even though the BI insurance will become a budget item again in 2008!
Are we better off?? You decide.
My view is we should have never campaigned we should fight for 11 Million, we should have negotiated and not have been closed minded to their offer, and WE SHOULD NOW SETTLE AND try desperately to forget this God awful mess!
Instead of $ 1,400.00 Solomon & Loewenstein touted, you will receive NOTHING!
That’s my view, what’s yours?
Ed Black
Thursday, April 3, 2008
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3 comments:
Good grief! I actually agree with Ed Black - I am trying desperately to forget this God awful mess!
I just hope this is a good settlement agreement and not full of chuck holes and surprises like so many of our other documents. WHo is Joseph Friedman? does he know he is in on this?
I think this is the best we can hope for at this point and I hope the delegates will accept it.
Ed, only one thing is clear in this whole mess, the monies we are all talking about is our money paid every month through our UCO and WPRF fees or dues.
Has it been properly managed? Answer: everybody has an opinion and nothing will change it.
At yesterday's meeting I said that the Executive had reach a fair settlement and that the delegates should approve it. I told the same thing to my President who will vote this morning according to his belief.
To close the matter of in my head, I went back to old postings and here are some selected extracts of what I have found:
On May 25th 2007 I posted the following in the CV Forum:
What's left to do is to sit like reasonable people, negotiate the differences and resolve the matter once and for all. What both side have left to bargain with, is their good faith and the fact that we will live together for the next 50 years. It is a major responsibility since at the end of the day, if one side abuses the other, everybody will know it and it will be shame for them for ever in the Village.
Also this one here dated June 5th 2007:
One thing is sure to all unit owners:
- An Act of God has created this problem;
- The owners were deprived of the clubhouse and the theatre;
- They have continue to pay their monthly dues as usual;
- Men and women of good faith must achieve a just settlement;
Let's hope that the people of the Village and Mr. Levy settle the matter outside of the Courthouse.
And finally the last but not the least from Mr. Levy himself:Author: WPRF
Date: 05-10-07 15:50
Lolits that is the greatest canard of all. The value of the clubhouse has not changed at all. We can not increase rent because the clubhouse has been improved. The only beneficiaries of the improvement are the tenets who use it. And the good news; It did not cost you or anyone else anything to improve it. Not one penny was assessed. All anyone lost was the use for a period of time. 05-10-07
mark Levy
Ed, this was down memory lane....now let's forget about this whole Act of God incident, let's move on and continue improving the quality of life in the village. There is so much to do. Andre
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