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Wednesday, July 18, 2018

Roosevelt Island Westview Ground Lease Extension On RIOC Real Estate Committee Meeting Agenda Today - When Will Agreement Be Reached On Exit From Mitchell Lama And Privatization?

During the June 28 Roosevelt Island Town Hall meeting with elected officials (full video of Town Hall here), Roosevelt Island Westview residents were hoping to receive some answers about

the status of the building's exit from Mitchell Lama program

and privatization efforts including extension of building's ground lease from the Roosevelt Island Operating Corp (RIOC)

as Westview building owner David Hirschorn and RIOC President Susan Rosenthal conferred

in the back of the room at Good Shepherd Community Center.

No answers were given during the Town Hall meeting other than all necessary parties were working diligently to reach an agreement. Westview residents left the meeting very frustrated with the lack of answers.

We may soon have some answers. Later today, the RIOC Real Estate Advisory Committee is meeting to discuss extension of the Westview building ground lease.

However, the meeting is in Executive Session, closed to the public.

According to RIOC:
PLEASE TAKE NOTICE that a meeting of the Real Estate Development Advisory Committee of the RIOC Board of Directors will be held on Wednesday, July 18, 2018 at 5:30 p.m. at the RIOC Administrative Office, 591 Main Street, Roosevelt Island, New York.


Chair’s Motion for Executive Session to Discuss the Westview Ground Lease Negotiations

Any Other Committee Business That May be Brought Before the Committee.
Both RIOC and the Westview Building owner declined to comment on status of negotiations. The Westview Task Force, representing building residents, issued this statement yesterday:
From what we know, significant progress has been recently made between New York State agencies and Westview Owners in connection with the revised Westview Affordability Plan. We anticipate receiving a copy of the Plan for review and remain hopeful that our ground lease will be extended and mortgage refinanced before the end of July.
Stay tuned for updates.

UPDATE- 7:35 PM - Following the Executive Session, I spotted RIOC President Susan Rosenthal on Main Street. I asked what happened at the meeting. Ms Rosenthal replied:
Board meeting has been scheduled for Monday...
Translation, a Westview agreement has been reached and will be voted on at Board meeting on Monday.

More details on the Agreement coming soon.

UPDATE 7/19 - RIOC Public Information Officer Alonza Robertson reports:
Based on the decisions made at the REDAC meeting last night, a meeting of the full RIOC Board of Directors has been called for Monday at 5:30 p.m. Among the items on the agenda include a vote on the Westview Ground Lease amendment.
Assembly Member Rebecca Seawright adds:
I commend Westview's residents for their patience and perseverance as this process is carried out. We look forward to a productive meeting of RIOC's Board of Directors on Monday. My office stands ready and able to assist residents during this transition.