RIRA Town Hall Meeting Tonight On Roosevelt Island Main Street Retail, Master Leaseholder & June RIOC Board Of Directors Meeting Agenda

Main Street Image Of Roosevelt Island Is The Village From Glark

Are you interested in what is going on with the long time empty Roosevelt Island Main Street retail stores? If so, come to tonight's Roosevelt Island Residents Association (RIRA) Town Hall Meeting and hear the latest about plans for the empty stores and Main Street Retail Master Leaseholder proposal from RIOC Directors and Staff as well as other matters on the June 2010 RIOC Board of Directors Meeting Agenda. RIRA President Frank Farance has the details:

The RIRA Town Hall meeting will be Wednesday, June 23, 8PM at the Good Shepherd Community Center. There are two agenda items:

(1) Discussion of Main Street storefront leases. This is intended to be an informational discussion among RIOC staff, RIOC directors, merchants, and the community.

(2) Discussion of June 28 RIOC Board Meeting Agenda (see below)

JUNE 28, 2010
MEETING OF THE ROOSEVELT ISLAND OPERATING CORPORATION
BOARD OF DIRECTORS
THE GOOD SHEPHERD CENTER, 5:30 P.M.

I. Call to Order
II. Roll Call
III. Approval of Minutes
1. May 6, 2010 Board Meeting (Board Action Required)
IV. Old Business
V. New Business
1. Presentation of RIOC?s Audited Financial Statements for Fiscal Year 2009-10;
2. Approval of Report on Procurement Contracts for Fiscal Year Ending March 31, 2010 (Board Action Required);
3. Approval of Report on Investments for Fiscal Year Ending March 31, 2010 (Board Action Required);
4. Approval of Property Report for Fiscal Year Ending March 31, 2010 (Board Action Required);
5. Approval of Annual Report for Fiscal Year Ending March 31, 2010 (Board Action Required);
6. Authorization to Adopt Guidelines Regarding Procurement Lobbying (Board Action Required);
7. Authorization to Enter into Contract for Independent Auditing Services (Board Action Required);
8. Authorization to Enter into Contracts for Landscape Architectural Services (Board Action Required);
9. Authorization to Amend the Contract for Construction Management Services for Oversight of the Aerial Tramway Modernization Project with Liro Engineers Inc. (Board Action Required);
10. Authorization to Enter into Contract for HVAC System Replacement at the Good Shepherd Center (Board Action Required);
11. Authorization to Enter into Contract for the Good Shepherd Center Plaza Restoration Project (Board Action Required);
12. Authorization to Enter into Contract for Resetting Z-brick Pavers (Board Action Required);
13. Authorization to Amend License Agreement with Riverwalk Landing LLC for Zipcar Parking at Southtown (Board Action Required);
14. Authorization of Distribution of Performance Based Increases (Board Action Required);
15. Authorization to Adopt 2010 Retirement Incentive Program (Board Action Required);
16. Presentation of the Proposed Master Plan for the Blackwell Open Space Area;
17. Committee Reports
a. Audit Committee
b. Governance Committee
c. Operations Advisory Committee
d. Real Estate Development Advisory Committee
18. Public Safety Report
19. President's Report
VI. Adjournment

Here is an audio webcast of the May 17, 2010 RIOC Real Estate Development Committee meeting discussion on Main Street Master Leaseholder plan.

More on Roosevelt Island Master Leaseholder plan here and the Main Street Retail Consultant's report is below.

Roosevelt Island Main Street Retail Study

RIRA Town Hall Meeting Tonight, RIOC Tomorrow - Ask Questions About Roosevelt Island Tram Outage, Ferry, Ground Lease Extension & More

Image Of RIOC Officials Addressing Febraury 2010 RIRA Meeting

Do you have any questions about what is happening on Roosevelt Island? Concerned about affordable housing, gound lease extensions for Rivercross, Island House, Westview and other buildings including Riverwalk Condominiums? Interested in transportation, parks, retail, RIOC's budget or anything else about life here on Roosevelt Island? If so, you have the opportunity to speak with Roosevelt Island Operating Corp (RIOC) Directors/Staff and Roosevelt Island Residents Association (RIRA) Common Council Members at two separate Town Hall Meetings this week.

The first Town Hall Meeting is sponsored tonight by RIRA and will take place at the Good Shepherd Community Center - 543 Main Street. According to RIRA President Frank Farance:

The next RIRA Town Hall meeting is on February 17 at 8PM in the church. This meeting is a prep for the RIOC Board meeting the next day. Come talk to RIOC board members and staff on agenda topics.

The Agenda for the February 19 RIOC Board of Directors Meeting is:

AMENDED AGENDA

FEBRUARY 18, 2010

MEETING OF THE ROOSEVELT ISLAND OPERATING CORPORATION

BOARD OF DIRECTORS

THE GOOD SHEPHERD CENTER, 4:30 P.M.

I. Call to Order

II. Roll Call

III. Approval of Minutes

January 14, 2010 Board Meeting (Board Action Required)

IV. Old Business

V. New Business

1. Authorization to Enter into Amendment of Contract with Parametrix Consulting Inc. for the Aerial Tramway Modernization Project (Board Action Required)

2. Authorization to Enter into Amendment of Contract with Alternate Construction Concepts LLC for the Renwick Ruin Stabilization Project (Board Action Required)

3. Authorization to Enter into Contract for Temporary Water Ferry Service (Board Action Required - Materials to Follow)

4. Presentation of the FY 2009-10 QTR 3 Procurement Report

5. Expression of Intention in Connection with Ground Lease Extension Transactions for the Rivercross, Island House and Westview Projects (Board Action Required)

6. Committee Reports

a. Audit Committee

b. Governance Advisory Committee

c. Operations Advisory Committee

d. Real Estate Development Advisory Committee

7. Public Safety Report

8. President's Report

VI. Adjournment

A "TOWN HALL" STYLE FORUM SHALL IMMEDIATELY FOLLOW THE ADJOURNMENT OF THE RIOC BOARD MEETING.1

As stated above the second Town Hall Meeting will take place immediately after the February RIOC Board Meeting. There is no better time to learn about what is happening on Roosevelt Island then during the next two days.

The RIOC February Board of Directors meeting will be webcast and available for viewing two days later and minutes will be posted online "when available".

RIRA Town Hall Meeting Tonight At Good Shepherd Community Center - Review Of January RIOC Board Agenda

Received the following message from RIRA President Frank Farance that there will be a Roosevelt Island Town Hall Meeting tonight at the Good Shepherd Community Center:

We have a town hall meeting tonight (Wednesday, 8PM) with one agenda items:

1. Review of RIOC agenda (see below) for January 14 RIOC Board Meeting.

Frank Farance
RIRA President

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RIOC Board Meeting Agenda for January 14, 2010 meeting at 9:30 AM

I. Call to Order
II. Roll Call
III. Approval of Minutes
1. December 10, 2009 Board Meeting (Board Action Required)
IV. Old Business
V. New Business
1. Presentation of the Proposed RIOC Budget for FY 2010-2011
2. Authorization to Enter into Contract with Liro Engineers, Inc. for Engineering Inspection and Report on the Roosevelt Island Helix Ramp and Bridge Deck (Board Action Required)
3. Authorization to Enter into Contract with Derive Technologies for Phase One of the Island-Wide Security Camera System Project (Board Action Required)
4. Authorization to Enter into Modification of Lease with Liberty of Roosevelt Island Corp. (Board Action Required)
5. Committee Reports
a. Audit Committee
b. Governance/Operations Advisory Committee
c. Real Estate Development Advisory Committee
6. Public Safety Report
7. President’s Report
VI. Adjournment

RIOC Cancels November Board Meeting So RIRA Cancels Tonight's Roosevelt Island Town Hall Meeting - Nothing Going On?

RIRA President Frank Farance sends the following message advising that tonight's RIRA Town Hall Meeting has been cancelled because there will be not be a November RIOC Board of Directors meeting.

The RIOC meeting was canceled. There is no need for a RIRA town hall meeting.

Apparently there are no Roosevelt Island issues for the RIOC Board to act upon this month. Below is the notice of RIOC's November Board of Directors meeting cancellation.

NOTICE OF THE CANCELLATION
OF THE REGULARLY SCHEDULED MEETING OF THE
ROOSEVELT ISLAND OPERATING CORPORATION
BOARD OF DIRECTORS

PLEASE TAKE NOTICE that the Board of Directors meeting scheduled for Thursday, November 5, 2009 has been cancelled.

September 17 Roosevelt Island Board Of Directors Meeting Followed By Town Hall - Come Ask Your Questions Of RIOC Board

Image of 6/25 RIOC Board Meeting

After taking the summer off, the Roosevelt Island Board of Directors will be holding their next meeting on Thursday, September 17. According to RIOC President Steve Shane, this will be the first meeting in which the Board Books have been done away with and replaced with electronically disseminated information. It will be interesting over the coming months to see if the electronic dissemination of information makes for a more timely and effiecient data flow from RIOC Management to the Board given that Board Members have complained in the past of not receiving relevant information in time to have it evaluated prior to casting a vote during a Board Meeting.

A Town Hall Meeting in which Roosevelt Island residents can ask questions of RIOC Board members follows the Board meeting. Below is the Amended Agenda for the September 17th meeting of the Roosevelt Island Board of Directors

AMENDED AGENDA

SEPTEMBER 17, 2009
MEETING OF THE ROOSEVELT ISLAND OPERATING CORPORATION
BOARD OF DIRECTORS
THE GOOD SHEPHERD CENTER, 4:30 P.M.

I. Call to Order
II. Roll Call
III. Approval of Minutes
1. June 25, 2009 Board Meeting (Board Action Required)
IV. Old Business
V. New Business
1. Authorization to "Override" the New York City Design Commission Permit Regulations in Connection with the Aerial Tramway Modernization Project (Board Action Required - Materials to Follow)
2. Authorization to "Override" the New York City Department of Transportation Permit Requirements in Connection with the Southpoint Open Space Project (Board Action Required)
3. Blackwell House Interior Restoration Project: Authorization to Enter into Matching Fund Grant Agreement and Authorization to Enter into Contract for Construction Drawings (Board Action Required)
4. Ratification of Amendments to the Policies and Procedures Regarding Travel by Personnel (Board Action Required)
5. Presentation of the FY 2009-10 QTR 1 Procurement Report
6. Authorization of Extension of Contract with Doppelmayr CTEC, Inc. for Operation and Management of the Roosevelt Island Aerial Tramway (Board Action Required)
7. Committee Reports

Audit Committee
Governance/Operations Advisory Committee
Real Estate Development Advisory Committee
8. Public Safety Report
9. President’s Report
VI. Adjournment

A "TOWN HALL" STYLE FORUM SHALL IMMEDIATELY FOLLOW THE ADJOURNMENT OF THE RIOC BOARD MEETING.1

1The Town Hall Meeting is not part of the RIOC Board Meeting

The Roosevelt Island Residents Association (RIRA) will be holding a Town Hall Meeting the preceeding night (Wednesday, 8PM Good Shepherd Community Center) to discuss the issues on the RIOC Board's Agenda and the state of Roosevelt Island ball fields. All are invited to attend.

RIRA President Reports On Main Street WIRE Editorial, Public Safety/Youth Center Outreach Basketball Game & Upcoming RIRA Council/Town Hall Meetings

Image of RIRA Meeting

RIRA President Frank Farance sends the following report to Roosevelt Island residents.

1. A relatively quiet summer. Not too much to report in the past four weeks. Somehow, that doesn't seem too bad!

2. Editorial in last WIRE issue. I've read the WIRE's last editorial about RIOC's perception of the WIRE's reporting. While Dick Lutz' reporting is true, since then I have perceived from RIOC a strong sense of cooperation and collaboration with the community. This doesn't address the items in the editorial directly, but I'm willing to withhold further criticism if the community sees measurable and sustained progress.

3. Public Safety Outreach partners with RI Youth Program. PSD Director Keith Guerra and RI Youth Program Director Charlie DeFino have collaborated on a brilliant idea: monthly events with Island youth and PSD officers. The first was a basketball game with a close score: 62-60 (Youth Center over PSD). I really think is a great idea for building a closer relationship between PSD and the community.

4. Upcoming RIRA meetings. RIRA will hold its monthly Common Council meetings at 8PM on September 9, October 7, November 4, December 2. RIRA will hold town hall meetings in conjunction with RIOC Board meetings at 8PM on September 16, October 28, and December 9.

The editorial Mr. Farance is referring to was published in the 7/25/09 Main Street Wire.

The RIRA President's message was also published as the RIRA column in the 8/29/09 Main Street WIRE.

RIRA Town Hall Meeting Tonight - Ask Questions About 2009 RIOC Budget and Spending Of Public Purpose Funds - Or Anything Else of Concern

Magnifying Glass on Budget Image from Piper Report

RIRA President Frank Farance invites RIOC President Steve Shane and sends this message to RIOC Directors and staff as well as all Roosevelt Islanders to attend tonight's's RIRA Town Hall Meeting:

The next RIRA Town Hall meeting will be on Wednesday, March 25, at 8-9:30PM at the Church of the Good Shepherd -- upper floor.

The meeting will be a Q&A session for residents to interact with RIOC Board members and RIOC Staff. The discussion will involve 3 areas:

(1) Discussion of agenda items on the March 26 RIOC Board meeting agenda.

(2) Discussion of results from the February 19 RIOC Board meeting.

(3) Any other topics.

If I receive questions in advance, I will forward them to you as soon as I receive them.

As always, thank you, your staff, and your directors for participating in the Town Hall meetings.

The Agenda items, including the approval of the 2009- 10 RIOC Budget and expenditure of $100,000 in Public Purpose Funds, for the March 26 RIOC Board of Directors Meeting are as follows:

AGENDA

MARCH 26, 2009
MEETING OF THE ROOSEVELT ISLAND OPERATING CORPORATION
BOARD OF DIRECTORS
THE GOOD SHEPHERD CENTER, 9:30 A.M.

I. Call to Order
II. Roll Call
III. Approval of Minutes
1. February 19, 2009 Board Meeting (Board Action Required)
IV. Old Business
V. New Business
1. Approval of the Proposed Budget for Fiscal Year 2009-10 (Board Action Required)
2. Authorization of Expenditure of Public Purpose Funds (Board Action Required)
3. Ratification of Contract for Security Services at the Renwick Ruin (Board
Action Required)
4. Authorization to Enter Into Insurance Binders for 2009-10 (Board Action Required)
5. Committee Reports
a. Audit Committee
b. Governance/Operations Advisory Committee
c. Real Estate Development Advisory Committee
6. Public Safety Report
7. President’s Report
VI. Adjournment

RIRA President Farance and the RIRA Budget Analysis Committee had some questions regarding RIOC's proposed budget as stated here.

RIRA Town Hall Meeting On Wednesday 8 PM - Discuss Proposed Construction Phasing of Kahn/FDR Memorial and other RIOC Board Meeting Agenda Items

Image of Kahn/FDR Memorial from NY Times

RIRA President Frank Farance invites RIOC President Steve Shane and sends a message to RIOC Directors and staff as well as all Roosevelt Islanders to attend this Wednesday's RIRA Town Hall Meeting:

The next RIRA Town Hall meeting will be on Wednesday, February 18, at 8-9:30PM at the Church of the Good Shepherd -- upper floor.

The meeting will be a Q&A session for residents to interact with RIOC Board members and RIOC Staff. The discussion will involve 3 areas:

(1) Discussion of agenda items on the February 19 RIOC Board meeting agenda.

(2) Discussion of results from the January 15 RIOC Board meeting.

(3) Any other topics.

If I receive questions in advance, I will forward them to you as soon as I receive them.

As always, thank you, your staff, and your directors for participating in the Town Hall meetings.

One of the agenda items on the 2/19 RIOC Board of Directors Meeting is a presentation by the Franklin & Eleanor Roosevelt Institute (FERI) on the proposed construction phasing of the Kahn/FDR Memorial in the event the building of this boondoggle ever actually starts, which may still be in doubt.

In the unfortunate event that the Kahn Memorial does move forward, the views of Roosevelt Island residents on the construction phasing of the project were demonstrated in the referendum held last November. The Referendum questions asked:

Question #1: Building the FDR memorial park before the monument
FOR THE FDR MEMORIAL AT SOUTHPOINT PARK, SHOULD FERI COMPLETE THEIR PORTION OF THE LANDSCAPING PRIOR TO COMPLETING THE FDR MONUMENT?
Background: There are two components in developing the southernmost 3 acres of the Island -- general landscaping and construction of an FDR memorial. Given that, particularly in these economic conditions, funding may be too limited for a full implementation at this time, do you favor developing the general landscaping before the monument is built?

The Roosevelt Island residents election results on this referendum question were overwhelmingly in favor of the landscaping portion of the park be completed prior to the granite memorial room by a vote of 830 to 247.

Supporters of the Kahn memorial and RIOC President Steve Shane previously claimed that despite the votes of the Roosevelt Island residents, the granite room had to be be built first because the $4 million allocated for the FDR memorial by the City of NY cannot be spent on landscaping but must be spent on the granite foundation and room since only capital expenses can be funded with the City money. We now know that this is not true and that according to City Council Member Jessica Lappin's office:

The money is available for the entire project and does not specify in what order the project should be completed.

The RIOC Directors should require the building of the park before the Memorial so that Roosevelt Island does not get stuck with a granite room at the tip of Southpoint and no park when, as they have always done in the past, FERI fails to raise the necessary funds.

Of course, FERI's plans to build the granite room first before the park landscaping. By doing so, when they run out of taxpayer funds and continue their 35 year failure to raise sufficient private donations at least they have the mausoleum room and can wait for a later time to build the rest of the park. Perhaps another 35 years. Here are FERI's initial construction plans.

While interdependent, each major component of the Park has its own series of challenges and demands specific types of construction equipment and building methodologies that must be logically sequenced and coordinated so as not to disturb finished work, disrupt building process, increase cost, or impede progress.

Phase 1 – The ‘Room’

The ‘Room,’ defined on three sides by 6’ x 6’ x 12’ high granite “columns,” requires a carefully implemented sequence of steps to deliver and erect the components. The granite blocks for the walls of the ‘Room’ each weigh 36 tons, not including the weight of a delivery truck. Due to the maximum weight limitation of 36 tons on the bridge connecting Roosevelt Island to Queens, this granite must be barged to the site.

The current shipping route requires a deck barge be used to transport the stone along the ocean route from the north to Roosevelt Island. We anticipate the stone will arrive at Roosevelt Island in November 2009.

Just before the arrival of the granite, a 330-ton crane will be delivered to the site via barge and lifted on to the island with the use of a floating crane mounted on that barge. The 330-ton crane will be assembled on the southern end of the island in the area of the ‘Room.’ This 330-ton crane will be used to move the granite from the staging area and to set the large stones in place. At maximum lifting capacity, this crane has a reach of approximately 100 feet. [Exhibit 8a: Crane and Barge Specifications]

The floating crane will stay to meet the stone barge, unload the granite blocks for the ‘Room,’ and place them in the designated stone staging areas. When all of the stone has been unloaded, the stone barge and floating crane will leave, and the 330-ton crane will begin setting the stone in its final location.

The barges will anchor temporarily in the East Channel as close to the eastern edge of the island as allowable. The rock outcropping off the southern tip of the island prevents staging the work in that area.

Upon completion of the setting of the stone for the Room, the 330-ton crane will be disassembled and removed from the site, and work will continue with Phase 2 and Phase 3.

Phases 2 and 3 – Stone for the Paved Promenades and Landscaped Garden

The stone to be used in Phases 2 and 3 is smaller blocks of granite, which can be trucked to the site via the bridge from Queens to Roosevelt Island. While these blocks are smaller than those for the ‘Room,’ they do require the use of a crane for setting. A smaller 35-ton crane will perform this work. This crane can be driven to the island via the bridge, and will move around the site as necessary to install the larger stones that are part of Phases 2 and 3, finish capstones, sloped granite, stair treads, etc.

Here is the proposed construction schedule.

UPDATE - 2/18 - RIOC has posted the proposed construction phasing of the Kahn/FDR Memorial submitted by FERI for the 2/19 Board of Directors meeting. (it is a large PDF File).

RIOC President and CFO Explain Roosevelt Island Budget To Residents During RIRA Town Hall Meeting

RIOC officials explain Roosevelt Island Budget during RIRA Town Hall Meeting

RIOC President Steve Shane and Chief Finance Officer Steven Chironis attended last Wednesday night's RIRA Town Hall Meeting to discuss RIOC's proposed 2009-10 fiscal year operating budget which was the main topic of the January 15 RIOC Board of Directors Meeting (The web cast of the RIOC Board meeting is available here) . They informed the approximately 20 residents present that despite the current national and local financial difficulties they are reasonably confident that RIOC will be able to finance Roosevelt Island's operating needs for the foreseeable future (the next 5 years).

Mr. Shane and Chironis explained the process they go through as they develop the budget and informed us that due to decisions made many years ago, Roosevelt Island has 4 budgets, an operating, capital, public purpose and reserve fund. The operating budget is to meet the annual needs of running Roosevelt Island such as operating public safety, picking up the garbage, RIOC salaries etc. The Capital budget is for major infrastructure improvements such as the Tram replacement, fixing the AVAC garbage system and seawall. The public purpose fund makes financial awards to local Roosevelt Island organizations. The Reserve fund is set aside for emergencies.

Those in attendance also learned that:

• $2.5-3 million in capital funds is available for renovating the Sportspark facility though a decision on how to use these funds is awaiting a decision on whether it is desirable and feasible to incorporate the adjacent Roosevelt Island Tennis Club into a larger Chelsea Piers like facility with Sportspark that the Tennis Club owners are promoting;
• $400,000 in NY City funds in available to renovate Blackwell House but if that money is accepted the use of Blackwell House will be limited to a museum exhibition space. A decision will have to be made if that is the type of use favored by RIOC and the community
• Revenue to RIOC from the Riverwalk developments has been less than anticipated due to the declining real estate market and certain payments to RIOC from the Hudson/Related developers of Buildings 5 and 6 due this year may be deferred. The opening of the new buildings has been pushed back to the Spring and according to RIOC only 40 of the 123 units in the condo building are in contract.

Mr. Shane and Chironis should be complimented for participating in the RIRA Town Hall meeting.

Roosevelt Island Fiscal Year 2009-10 Budget Subject of Tonights RIRA Town Hall Meeting and Tomorrow's RIOC Board of Directors Meeting

Image from RIOC Proposed 2009-2010 Budget

The Roosevelt Island Residents Association (RIRA) will be holding a Town Hall Meeting later tonight to raise questions and discuss the issues on the Agenda for tomorrow's RIOC Board of Directors Meeting. The most significant item on the RIOC Board Agenda is the proposed fiscal year 2009-10 Roosevelt Island budget. RIRA President Frank Farance forwards this message he sent to RIOC President Steve Shane concerning the Town Hall Meeting.

Dear Steve-

As we discussed, RIRA will be sponsoring Town Hall meetings. The next Town Hall meeting will be on Wednesday, January 14, at 8-9:30PM at the Church of the Good Shepherd -- upper floor.

The meeting will be a Q&A session for residents to interact with RIOC Board members and RIOC Staff. The discussion will involve 3 areas:

(1) Discussion of agenda items on the January 15 RIOC Board meeting agenda.

(2) Discussion of results from the December 4 RIOC Board meeting.

(3) Any other topics.

I am expecting some questions on the RIOC budget. I will forward them to you as soon as I receive them so that you can prepare in advance of the meeting.

Again, thank you, your staff, and your directors for participating in the Town Hall meetings.

Mr. Shane is expected to attend tonights RIRA Town Hall Meeting.

The Agenda for tomorrow's RIOC Board Meeting is:

I. Call to Order
II. Roll Call
III. Approval of Minutes
1. December 4, 2008 Board Meeting (Board Action Required)
IV. Old Business
V. New Business
1. Presentation of the Proposed RIOC Budget for Fiscal Year 2009-10
2. Authorization to Enter into Contract for Replacement of the Central Compactor of the AVAC System (Board Action Required)
3. Ratification of Contract for Southpoint Site Clean-up (Board Action Required)
4. Ratification of Change Order for Lighthouse Park Comfort Station (Board Action Required)
5. Ratification of Purchase Orders for Emergency Dismantling of the Sports Park Facade (Board Action Required)
6. Ratification of Fuel Contracts for RIOC Vehicles (Board Action Required)
7. Ratification of Purchase Orders for Employee Uniforms (Board Action Required)
8. Ratification of Change Order for Roof Rehabilitation at 504 Main Street (Board Action Required)
9. Committee Reports
a. Audit Committee
b. Governance/Operations Advisory Committee
c. Real Estate Development Advisory Committee
10. Public Safety Report
11. President’s Report
VI. Adjournment

The proposed RIOC budget for fiscal year 2009-10 is available here. Highlights include (page 2):

1. Revenues: Projected revenues for FY 09-10 when compared to FY 08-09 is down (8%). Income sources which have significant projected decreases are; Tram,
Condo Conversion Fees, and investment income. The Tram projected revenue is 39% less ($1,177,671) due to the anticipated 6 month Tram shutdown. Condo Conversion Fees, which are discussed in detail under "Budget Risks" on page 5, is down 65% ($919,793). Investment income is down 39% ($473,274), with the projected rate -of-return reduced from 3% to 2%.

2. Personal Services (PS):Projected Personal Services as noted above is essentially flat, at a 0% increase. Per the directive from NYS Department of Budget (DOB), a 3% COLA increase and performance bonuses were included in the budget but will not be paid until if or when that State re-negotiates it's collective bargaining agreement with the union. Projected fringe benefits have actually decreased from the FY 08-09 budget due to a decrease in health insurance premiums and last years over estimation of the pension contribution.

3. Other Than Personal Services (OTPS):Projected (OTPS) is reduced by 29%, reflecting in a decrease in expense of ($2,885,420). The three main areas that have the most significant reduction in expense are; Tram (6 months less of management fees and reduced insurance expense), Professional Fees (primarily more engineeringservices in-house) and a more efficient use of repair expenditures.

4. Net Surplus (Cash Flow) Generated (Before Depreciation):Projected Cash Flow Generated increased 85% from $1,383,490 to $2,565,107.

Regarding fees from the Hudson/Related Southtown Riverwalk development, RIOC's proposed 2009-10 budget reveals (Page 5):

1. Southtown 7, 8, and 9:
In 2006, the Southtown developers exersized an option at a cost of $2,000,000 to extend the Construction Commencement Date for all buildings of Southtown 5–9 from no later than December 31, 2010 to December 31, 2012. Management believes that given current market conditions there is a real possibility that the development of Southtown 7, 8, and 9 may not happen, negatively affecting projected cash reserves. Below is the effect on projected cash reserves, if the development of Southtown 7, 8, and 9 were not to go forward. It is management's belief that if Southtown 7, 8, and 9 were to not proceed in the time period, there would be other subsequent development opportunities after the economic downturn cycle reverses its course.

2. Condo Conversion Fees:
Projected condo conversion fee income for ST# 5–9 is derived from 2% of all condo sales up to $750/sq ft., and 3% for the amount of sales above the $750/sq ft. threshold.Average sales prices for ST# 3 & 4 condo sales in 2007 & 2008 were approximately $750/sq ft. Projected condo sales for ST# 5 for 09–10 were projected at an average sales price of $600/sq ft. In addition, only 25% of units were projected to be sold in 2009–2010 resulting in $408,000 in fees income —down from the budgeted 2008–2009 condo fee income of $1,285,793.

3. Southtown 5 & 6 Substantial Completion Payments:
Included in the Budget FY 09-10 are contractural payments relating to the ST#5 & #6 substantial construction completion. The developers have requested possible deferment of payment of said payments due to the slow sales activity of units. The payments in question are secured debt obligations to the Corporation but the timing of these payments may be delayed. The timing of payments in question are listed below:

ST #5 NPV Payment ( 04/09) $6,331,150
ST #6 NPV Payment ( 04/09) $10,184,950
Increase in Ground Rents (from $1.80/sq' to $3.60/sq') $659,369
Public Safety Fees $84,720
$17,260,189

RIRA President Reports On Southpoint Park, Octagon Mortgage, Public Safety, Main Street Retail and Other Roosevelt Island Community Issues

Image of RIOC Director Kalkin and RIRA President Farance at RIRA Town Hall Meeting

RIRA President Frank Farance sends the following report to the Roosevelt Island community.

1. RIRA Town Meeting on Tuesday, December 2. Yet another very productive meeting! RIOC Board members Jonathan Kalkin and Fay Christian attended. (Other RIOC Board members had prior commitments.) Assemblymember Kellner's office was in attendance in the person of his Chief of Staff. Senator Serrano's office will attend future meetings. Approximately 30 were present. The meeting was structured around RIOC Board Agenda items, with RIOC Board members introducing each topic:

2. RIOC agenda item -- Southpoint Park: Authorization to issue a Negative Declaration under the State Environmental Quality Review Act; approval of the plan and project; authorization to expend funds and to enter into contracts for construction. In short, RIOC has determined that the Trust for Public Land (TPL) portion of Southpoint Park has no environmental impact. Residents asked questions about the FDR memorial project, which is unrelated to the RIOC Board agenda item. Earlier, I had asked RIOC President Steve Shane about the community's preference, as registered in the recent referendum question, for completion of the memorial park before the memorial monument. Steve said that it was impractical to complete the park first and he believed that the Franklin and Eleanor Roosevelt Institute (FERI) would get its necessary funding. I told Steve that, if RIOC is choosing not to do as residents wish, RIOC needs to provide a formal response about RIOC's actions, which are counter to the results of the referendum question.

3. RIOC agenda item – The Octagon: Authorization to waive the notice period and to consent to Multi- Employer Pension Trust (MEPT) Octagon LLC's financing its leasehold interest in the Octagon lease. In short, the owners of The Octagon want to take out $110 million from the development and mortgage it -- what you and I would call a home equity loan. RIOC's interest in this is that they might be able to get a recording fee of several million dollars, i.e., a piece of the action. Several residents raised concerns about whether or not this would be considered a predatory lending scenario. RIOC Board members said that the owner is contractually permitted to do this, and RIOC was merely helping to speed things up. This did not satisfy residents because the operating costs of The Octagon could exceed its operating income. Residents asked RIOC Board members, prior to agreement with owner, to confirm that this was not predatory lending.

4. RIOC agenda item -- Public Safety Contract: Authorization to enter into a contract with the Roosevelt Island Public Safety Officers Benevolent Association. Essentially, this concerns authorization to negotiate contract terms with Public Safety’s union. This led into a broad discussion of the Public Safety Department (PSD), and of the 94% vote on the RIRA referendum for a citizens review board. Residents expressed:

- PSD's budget is growing, with a large fleet of vehicles (4 patrol cars, 2 Segways, 9 bikes, a motorcycle, etc.) and a large staff -- yet we are told by PSD that we are safe and have no crime. This seems contradictory: no crime, yet more staff and more equipment. A resident from Eastwood (now Roosevelt Landings) said that one of the original reasons for PSD's creation was the lack of doorkeepers in Eastwood, and that if Eastwood were to get doormen, this might greatly reduce the need for PSD.

- PSD wants money for their own gym for their off-duty officers. Residents were upset that money was being spent and existing space taken away (e.g., portions of the Main Street Theatre and Dance Alliance and the former bakery), while RIOC could better spend the money by adding equipment or hours to existing facilities, such as the Westview Pool or Sportspark.

- PSD wants more space, including space for a "holding cell". This was an emotional topic, and residents want more involvement in this discussion. Many felt that the matter escalates friction with PSD. (There were several reports of problematic encounters with PSD.) One resident whose son has allegedly suffered abuse said that PSD Director Guerra endorsed the use of extreme force with teenagers because they don't respect PSD. We'll need to hear PSD's side of the story to get the full picture.

In reaction to the 94% referendum vote favoring a citizens' review board for PSD, I reported Steve Shane's comments: RIOC will never provide a citizens' review board for PSD. This was certainly not well received by the residents. We'll need future town meetings devoted to PSD and its role on Roosevelt Island.

5. RIOC Real Estate Development Advisory Committee report: RIOC's Real Estate Committee has agreed to hire a consultant to investigate the empty store fronts. As pointed out by several residents, nothing has been done in the past 20 months of the current RIOC administration, and nothing has been done in the past five years. Residents demanded that RIOC agree to take action, not just hire another consultant. RIOC Board members said they would take these comments back to the Real Estate Committee (chaired by Charlee Miller, with members Dr. Kathie Grimm and Fay Christian). In response to the RIRA referendum question indicating a strong preference for a private developer to take over the commercial space, residents asked what RIOC was doing. My short summary of the discussion is: the Real Estate committee has not yet addressed the referendum results, but is likely to do so soon.

6. RIRA Common Council: The Council elected the following officers and committee chairs at its Wednesday night meeting: Charlie Berg, Secretary; Elizabeth Erickson, Communications chair; Margie Smith, Government Relations chair; Joyce Mincheff and Lynn Strong-Shinozaki, Housing co-chairs; Aaron Hamburger, Island Services chair; Matthew Katz, Planning chair; Ron Schuppert, Public Safety chair; Nikki Leopold, Social, Cultural, and Educational Services chair.

7. RIRA's 2009 Common Council meeting schedule: January 7, February 4, March 4, April 1, May 6, June 3, September 9, October 7, November 4, December 2 (all Wednesdays, 8:00 p.m., Good Shepherd Community Center).

8. Upcoming RIRA Town Meetings: Wednesday, January 14, and Wednesday, February 18. They will be held in advance of RIOC Board meetings. Steve Shane and I briefly discussed some areas of collaboration and cooperation, such as joint RIRARIOC sponsorship of the town meeting. I'm all for collaboration with RIOC.

You can also read the RIRA President's Report in the Main Street WIRE.

The RIRA Town Hall Meeting prior to RIOC Board of Directors meeting is an excellent idea since it allows residents to be informed of important Roosevelt Island issues before they are voted upon. (Whether or not a decision has been made on any particular issue before the vote is another question - don't know the answer to that, particularly with new Board). It may also be a great benefit to the RIOC resident Directors because it allows them to hear the community viewpoint on current Agenda items and may provide valuable information from residents with particular knowledge or expertise in the subject.

RIRA President Farance should be congratulated for initiating this idea and RIOC Board Members Kalkin, Shinozaki and Christian thanked for participating as well. I hope that the other RIOC Board members will join their fellow Roosevelt Islanders and attend future RIRA Town Hall Meetings.