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Saturday, June 28, 2014

Roosevelt Island 2014 Outdoor Movie Series At Southpoint Park Starts Tonight With Showing Of Disney's Frozen

The Roosevelt Island 2014 Summer Outdoor Movie Series at Southpoint Park


starts tonight.


According to the Roosevelt Island Operating Corp (RIOC):
This Saturday, June 28th, the Roosevelt Operating Corporation presents the Outdoor Summer Movie Series at Southpoint Park at 7 PM. Come and join in the fun with a screening of Disney's animated blockbuster Frozen, the first of six fantastic films that will be shown in the park this summer. Food and drink vendors will be on site; bring a blanket or lawn chair. Trivia games, prizes, music and more fun will begin before the movie - we hope to see you there!

Sincerely,

Roosevelt Island Operating Corp Advisories Group
Here's the trailer for Frozen.

Friday, June 27, 2014

No Roosevelt Island F Train Service To Manhattan This Weekend - Expect Crowded Tram But Don't Worry If They Suddenly Stop And Swing A Bit



According to the MTA Weekender:
F Coney Island-bound trains run via the M from Roosevelt Av to 47-50 Sts

Weekends, 11:15 PM Fri to 5 AM Mon, until Jun 30

Trains run express from Roosevelt Av to Queens Plaza.

No Coney Island-bound F service at 21 St-Queensbridge, Roosevelt Island, Lexington Av/63 St and 57 St
Expect crowded Roosevelt Island Tram cabins to Manhattan this weekend.

Don't be overly concerned if there is a sudden stop by the Tram followed by a bit of rocking back and forth like there was last night. Trevre Andrews shares this video of Tram ride last night reporting:
Emergency tram stop had us swinging tonight at 6:45



I would say the cabin was swinging a good 25 degrees in each direction, I was in the middle so not that bad, but on the ends people we're moving a good 20' vertically. Fun if you enjoy a good scare, not so fun if you are a bit Squeamish.

No one said why it happened but over the radio the ground station apologized for the stop so I assume it was something they were doing.
Have a good weekend.

Fantastic News - Roosevelt Island's Eleanor's Pier On East River Waterfront Now Open - Wonderful Public Space To Eat, Relax And Enjoy One Of The Best New York City Views

Roosevelt Island's Eleanor's Pier on the East River waterfront opened today in what the Concession Operator, Southtown Developer and Main Street Master Leaseholder Hudson Related, describes as a "soft opening" for this weekend and a full opening with vendors next weekend.

Right now, there are tables, chairs and umbrellas available at Eleanor's Pier. You can bring food purchased from local retailers or bring your own, sit by the river and enjoy one of the best views in NYC. I was there earlier this afternoon and saw people with pizza from Nonno's Focacceria and others who brought their own lunch.

Image Of Roosevelt Island's Eleanor's Pier

I had a Starbucks Iced Mocha


This is GREAT!!!!!!



A wonderful public space open to everybody. One of the best things to happen for Roosevelt Island in a long time.

I am looking forward to seeing what vendors will be brought in. I am hoping for the General Tso's Chicken Po Boy vendor please.

Eleanor's Pier will be open Friday's Saturday's and Sunday's thru September 21.

Report From RIOC President Charlene Indelicato - Roosevelt Island Citizen Emergency Preparedness Training, Eleanor's Pier Waterfront Food Concession Opening, Thanks Finance Staff & More


During June 26 Roosevelt Island Operating Corp (RIOC) Board of Directors meeting, RIOC President Charlene Indelicato gave the following report to the community. Ms Indelicato:
  • thanked the RIOC Financial staff for their hard work,
  • announced a Citizens Preparedness Training Program on Roosevelt Island for emergency response taking place on August 6 (Registration Required),
  • reminded residents that there will be limited visibility of Macy's July 4 Fireworks but that RIOC will have a celebration including tv simulcast of fireworks from Firefighters Field,
  • reported soft opening of Eleanors Pier Waterfront Food Concession this weekend and
  • Octagon Tennis Courts resurfacing completed, open on Saturday
Here's what Ms. Indelicato had to say.

Roosevelt Island Octagon Tennis Courts Resurfacing Completed Says RIOC - Will Reopen For Free Play Tomorrow, Permits Available Next Week

Good news for Roosevelt Island tennis players.

Here's a look at the newly resurfaced

Image Of Newly Resurfaced Octagon Tennis Courts

Octagon Tennis Courts last night.

According to the Roosevelt Island Operating Corp (RIOC):
Following a previous closure due to resurfacing work, the Octagon Tennis Courts will officially re-open for free play this Saturday, June 28th at 9 AM. Tennis permit enforcement will begin on Monday, July 7th at 9 AM. Tennis permits will be available for purchase online early next week at rioc.ny.gov; an advisory will be issued with more information when permit sales begin.

Sincerely,

Roosevelt Island Operating Corp Advisories Group

Thursday, June 26, 2014

Roosevelt Island's Manhattan Park Building Ownership Seeking RIOC's Permission To Restructure Partnership Interest And Refinance Mortgage With New $256 Million Loan - $12.6 Million Fee To RIOC, Board Votes At Directors Meeting Tonight


The ownership of Roosevelt Island's Manhattan Park buildings complex is seeking to restructure its partnership interests and refinance the existing mortgage on the property. According to this June 11, 2014 memo from Roosevelt Island Operating Corp (RIOC) President Charlene Indelicato to the RIOC Board Of Directors:
Roosevelt Island Associates (“RIA”) was the ground lessee under the Manhattan Park ground lease. RIA is a general partnership consisting of (i) two managing general partners,Manhattan Park Inc. (wholly owned by Starrett Companies LLC) and Cohen Roosevelt Associates, which, together, hold a 1% ownership interest and a 50% economic interest in RIA, and (ii) an investor general partner, NCC-RIA (an affiliate of Verizon Capital), which holds a 99% ownership interest and a 50% economic interest in RIA. The managing general partners propose to (i) restructure RIA by redeeming NCC’s general partnership interest in RIA for the sum of $126,000,000, and (ii) refinance the existing leasehold mortgage to order to fund the redemption. Upon completion of the restructuring, Manhattan Park Inc. and Cohen Roosevelt Associates will each have a 50% ownership interest and a 50% economic interest in RIA and NCC will have no longer own any interest in RIA. RIA would like to accomplish the redemption and refinancing simultaneously, but it is possible that the refinancing may occur shortly before or after the closing of the redemption.

RIA intends to refinance the existing mortgage with a new loan of approximately $256,000,000- $261,000,000 (the exact amount will depend upon interest rates at the time of closing, projected to be at the end of June.) In connection with the refinancing, the existing mortgage of approximately $113,000,000 will be satisfied. In addition to repaying the existing mortgage loan and related NYC HDC bonds, proceeds from the refinancing will be used to fund the redemption of NCC’s partnership interest, and pay the costs associated with the refinancing. RIA has indicated that any proceeds remaining after these obligations are satisfied will be kept in a reserve fund for future capital expenditures and repairs, and to upgrade the buildings. RIA does not intend to distribute any proceeds from the refinancing to the partners....
The consent of RIOC is required in order for the Manhattan Park restructuring and refinancing to go forward. Manhattan Park ownership proposed paying RIOC $12,600,000 for its consent. Ms. Indelicato's memo continues:
...Under the Manhattan Park ground lease, transfers of ownership interests and refinancing of the sort described above are “Transactions”, for which RIOC’s consent is required, and a Transaction Payment may be imposed. Although the redemption of NCC’s partnership interest and the refinancing may each technically be considered as separate “Transactions” under the Manhattan Park lease, in the instant case, they are part of a single, integrated transaction. RIA has advised RIOC that the redemption of NCC’s interest cannot occur without the refinancing, and that RIA will not refinance the mortgage unless it also proceeds with the redemption of NCC’s interest. In light of the fact that (i) the transactions are part of a single transaction, and neither will occur without the other, (ii) no funds will be distributed to the General Partners as a result of the refinancing, and (iii) excess proceeds from the refinancing, if any, will be put in a dedicated reserve fund to pay for capital improvements for the buildings, RIA proposes paying a single Transaction Payment of $12,600,000 for the redemption of NCC’s interest. RIA has advised RIOC that it cannot proceed with either the redemption or the refinancing if it is required to pay two Transaction Payments, and the statement of revenue and sources submitted by RIA (a copy of which is attached to this memo) confirms that there would be insufficient proceeds from the refinancing to pay more than one Transaction Payment. If RIA does not proceed with these transactions, RIOC will not receive the $12,600,000 Transaction Payment, nor will a dedicated reserve fund be created from excess loan proceeds, if any, to pay for capital improvements to the buildings. RIA has agreed that, if there were a distribution to the General Partners as a result of the refinancing, RIA will make a Transaction Payment of 10% of the amount distributed, in addition to the $12,600,000 Transaction Payment payable in connection with the redemption....
Below is chart showing the Manhattan Park Refinancing Projected Sources & Uses from the Indelicato Memo page 4. As shown at bottom of the chart, there may or may not be any funds available from the mortgage refinancing for building upgrade reserve fund.

Click here for the entire Indelicato memo on Manhattan Park ownership restructuring and mortgage refinancing. Ms. Indelicato recommended that the RIOC Board approve the transaction.

The RIOC Board's consent to Manhattan Park transactions are on tonight's RIOC Board Of Directors  meeting agenda.

According to the Roosevelt Island Operating Corp (RIOC)
AGENDA

JUNE 26, 2014 MEETING OF

THE ROOSEVELT ISLAND OPERATING CORPORATION BOARD OF DIRECTORS

THE MANHATTAN PARK COMMUNITY CENTER,

8 RIVER ROAD, ROOSEVELT ISLAND, NEW YORK

5:30 P.M.[1]

I. Call to Order

II. Roll Call

III. Approval of Minutes
1. May 15, 2014 Board Meeting (Board Action Required)

IV. Old Business

V. New Business

1. Authorization to Consent to Manhattan Park's Refinancing (Board Action Required)

2. Presentation of RIOC's Audited Financial Statements for Fiscal Year 2013-14

3. Approval of Report on Procurement Contracts for Fiscal Year Ending March 31, 2014 (Board Action Required)

4. Approval of Report on Investments for Fiscal Year Ending March 31, 2014 (Board Action Required)

5. Approval of Property Report for Fiscal Year Ending March 31, 2014 (Board Action Required)

6. Approval of Annual Report for Fiscal Year Ending March 31, 2014 (Board Action Required)

7. Ratification of Contract with The Burke Group, LLC for Actuarial Services (Board Action Required)

8. Authorization to Enter into Contract with Thomson Reuters for Access to On-Line Westlaw Legal Research Libraries (Board Action Required)

9. Ratification of Amendment of Contract with Urban Exterminating Company for Pest Control and Extermination Services (Board Action Required)

10. Authorization to Amend the Cell Antenna License Agreement with Sprint (Board Action Required)

11. President's Report

12. Committee Reports

a. Audit Committee

b. Governance Committee

c. Operations Advisory Committee

d. Real Estate Development Advisory Committee

13. Public Safety Report


VI. Adjournment

[1] The RIOC Board Meeting will commence following a public comment period. The public comment period is not part of the meeting.
UPDATE 6/27 - The RIOC Board of Directors approved the Manhattan Park partnership restructuring and mortgage financing at yesterday's meeting. RIOC President Charlene Indelicato said "it was a very good agreement with Manhattan Park" and that the $12.6 million proceeds to RIOC will go into the RIOC General Fund. RIOC Director Howard Polivy reported representations were made that as a result of the refinancing, there will be no rent increases for Manhattan Park tenants nor change in the composition of Manhattan Park affordable apartments.

Here's the discussion.

Come Join Bike New York On A Bicycle Excursion Around Roosevelt Island Tonight - More Thursday Night Rides Planned Too


Bike New York Roosevelt Island Community Outreach Manager Caitlin Goodspeed invites you to a bicycle excursion around Roosevelt Island tonight. According to Ms. Goodspeed:
Join Bike New York this evening for a 3 mile ride around Roosevelt Island! We'll meet at the storage container next to the bike rack under the helix ramp at 6:30pm. Please bring your own bike. After the ride we'll head to The Riverwalk Bar and Grill for dinner (we've got a pretty sweet discount for you).
Ms. Goodspeed adds:
This is the first of what will be a series of Roosevelt Island rides, most of them on the island but some of them will venture off-island too. For future Thursday evening rides, we will provide bikes and helmets to people who need them.

Are You A Mom Staying At Home But Want To Get Moving? Join Roosevelt Island Moms On The Move Walking Group Starting Friday June 27


Roosevelt Island Parents' Network (RIPN) Coordinator Eva Bosbach reports:
Join us in front of the Tram kiosk this Friday at 11 AM for the launch of Roosevelt Island Moms on the Move (RI MoM)!

This is a walking group for moms with children in strollers. We are meeting to exercise and lose baby weight while having a nice chat and enjoying fresh air. In case you are up to more you can add a short after-walk exercise program - a big thank you to Paulina for preparing it.

If you would like to join us for a picnic after the walk and exercise bring along a picnic blanket and pack a lunch.

Please send me a short e-mail if you are interested in joining. We start with Fridays @ 11 AM but let me know if another time is better for you for future walks!

See you on Friday :)
Paulina Mansz from the RIPN adds
If you are planning to join the after-walk exercise (15-20 min for the beginning), bring a small towel (if you mind putting your hands on the grass) so as we could do some plank.

Wednesday, June 25, 2014

How Safe Is The Roosevelt Island F Train Subway Station - Check Out NY Daily News Subway Crime Stats Analysis From July 1 - 2008 - June 30 2013

The NY Daily News conducted an analysis of subway felony and misdemeanor statistics from July 1 2008 - June 30 2013. According to the NY Daily News, the Roosevelt Island F Train subway station averaged 5,696 average daily riders and had a total of 17 crimes during the period studied. As shown in the Station Crime Report below there were:

  • 7 Grand Larceny,
  • 4 assault,
  • 2 Robbery,
  • 1 Criminal Mischief & Tampering,
  • 1 Misdemeanor Sex Crime,
  • 1 Obstruction Public Servants and
  • 1 Theft Fraud
incidents at the Roosevelt Island F Train subway station during the 5 year period

Image From the NY Daily News

According to the study, the Roosevelt Island F Train subway station is one of the safety in NYC. Click here for the full article and crime statistics for every NYC subway station.


Also, here are Roosevelt Island F Train ridership statistics from previous post and from the MTA.

Tuesday, June 24, 2014

RIOC Operations Advisory Committee Meeting June 25 - Status Updates On Roosevelt Island Projects, July 4 Fireworks Viewing Simulcast, Pest Control, Property Acquisition/Control & More On Agenda

According to the Roosevelt Island Operating Corp (RIOC)

PLEASE TAKE NOTICE that a meeting of the Operations Advisory Committee of the RIOC Board of Directors will be held on Wednesday, June 25, 2014 at 4:30 p.m. at the RIOC administrative office, 591 Main Street, Roosevelt Island, New York.

Agenda:

Status Updates on the General Projects

Discussion of the Engineering Weekly Project Chart

Discussion of the Fourth of July Fireworks Viewing at Firefighters Field

Discussion of the Amendment of the Guidelines Regarding Acquisition and Disposal of Property Discussion

Discussion of the Ratification of the Amendment of Contract with Urban Exterminating Company for Pest Control and Extermination Services

Discussion of the Amendment of the Cell Antenna License Agreement with Sprint

Discussion of the Everbridge Mass Community Notification System

Any Other Committee Business That May be Brought Before the Committee

***

The Open Meetings Law of the State of New York requires that all public bodies conduct meetings, convened for the purpose of officially conducting public business, in a manner open to attendance by the general public to observe and listen.
An audio web cast of the meeting will be available soon thereafter.

The audio web cast will only be available if the recording machine is turned on.

The June 18 Audit Committee and Real Estate Committee audio web cast is not available because of failure to turn on the recording device.

UPDATE 6/28 - Here's the audio web cast of meeting.

Sad News, Roosevelt Island Resident And Main Street Theater & Dance Alliance Board President Nina Wintringham Passed Away Saturday June 21 - Condolences To Her Family & Friends

Image Of Nina Wintringham From Main Street WIRE

Very sad news to report. Roosevelt Island resident Nina Wintringham, President of the Main Street Theater & Dance Alliance (MST&DA) Board of Directors died Saturday June 21.


MST&DA Executive Director Owen Johnston tells us that:
Arrangements have been made for Nina this Tuesday June 24, at

Frank E. Campbell Funeral Home
1076 Madison Ave.
Just past 81 street on the West side of Madison Ave.

There will be two viewings:
2-5pm
7-9pm

John and Rebecca are asking in lieu of flowers to please make donations to:
Main Street Theatre & Dance Alliance
548 Main Street
New York, NY 10044

Also, there will also be a Memorial Service in Nina's honor at The Good Shepherd Center Wednesday evening June 25, at 6:00pm.

Please come celebrate Nina's life with her family, friends, and community that she loved and who loved her in return.

There will be dinner served in the lower level of the Good Shepherd following the service.
Nina Wintringham's obituary from the NY Times is here.

My condolences to Ms. Wintringham's family and friends. She was a very nice woman who made great contributions to the Roosevelt Island community and will be very much missed.