Dear Neighbors,

The unsigned letter distributed throughout the coop since Thanksgiving is more than an attempt to damage our campaign — it’s a challenge to your conscience.

The authors of this attack want you to be afraid, or confused, or disgusted. Ask yourself, is this the best argument they can make for why the incumbents should be returned to office again? And, if it is, why not sign their names? To ask the question is to answer it.

We will not be intimidated by slander, and neither should you.

• Jim Keenan and Mike Turner are real estate professionals, and both agreed to and signed an unprecedented conflict of interest statement written by East River’s corporate counsel.
• Mike does not list with AirBnB or any other service and has never sublet his apt.
• Jim’s issue with Stuy Town is a private matter with his family and has no bearing on the coop.

Our campaign has been based on policy disagreements, not personal ones.

• We believe the current board majority is increasing our debt at a dangerous rate. The coop now owes $25,000,000 — that’s a $15,000 maintenance increase for each of you that the board just hasn’t told you about yet.
• We want security taken more seriously. Last week’s rape at the East River bandshell is a wake-up call to repair broken locks, security cameras, and lights around our property, and to crack down on deliverymen who keep keys to the coop.
• We think the recent change in sublease policy will dramatically reduce our income as owners are encouraged to rent instead of sell. The policy needs to be reexamined.

Do not let yourself be manipulated by anonymous smears. Vote to reaffirm the guiding principles of cooperative living.

Cooperatively yours,

James Keenan
Faith Schreier
Julian Swearengin
Mike Turner

P.S. It’s not too late to counter hateful anonymous attacks with open-minded, respectful policy-making. You can still vote! Come to the annual meeting on Tuesday at 7:30 pm, or return a general proxy to one of us or our delegates before then.

A message from East River Board Members Lee Berman and Peter Herb.

Dear Neighbors,

We know many cooperators are concerned about East River’s closed-door policy-making. But the hard truth we have learned in the year since you elected us to the board is that, when it comes to essential information and analysis, even directors are kept in the dark.

• At only half our board meetings have we seen even basic financial reports, and those were a month or more out of date. We were the only two directors who asked for current financials.
• The budget was presented to the board three months late and we were given only ten minutes to look it over. That budget contains inflated flip-tax forecasts that will leave us in a $1.5 million hole unless the real estate market heats up again. And the budget is missing the huge expenses for laundry room repairs — at least $500,000 not accounted for at all. Yet we were the only two directors to protest the last-minute vote.
• A new sublease policy passed with only back-of-the envelope analysis. Endless sublets will reduce first-time sales and cut into our flip-tax revenue, which accounts for 20% of our income. We were the only two directors who asked for a more thorough analysis.

Now we know that only two directors on a board of eleven is not enough to bring about positive change. We need four more forward-thinking directors to preserve all the things we love about East River while strengthening our financial security and sharing information and ideas with openness and respect.

Let’s come out of the dark — vote for Jim Keenan, Faith Schreier, Julian Swearengin, and Mike Turner. With all four of them beside us on the board, we will reaffirm the guiding principles of cooperative living and enrich East River Co-op for the next generation.

Cooperatively yours,
Lee Berman
Peter Herb

PS. With the holiday, it may be too late to mail in a directed proxy. Please fill out the general proxy for your address (find it here) to make sure your vote is counted for Jim, Faith, Julian, and Mike.