tag:blogger.com,1999:blog-34563578.post741533305889912472..comments2023-07-11T11:05:52.741-04:00Comments on Morningsider: I asked for itAllenhttp://www.blogger.com/profile/04082981127553205332noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-34563578.post-72624373317898300192011-03-24T21:47:28.224-04:002011-03-24T21:47:28.224-04:00Thank you, Adam.
AllenThank you, Adam.<br /><br />AllenAllenhttps://www.blogger.com/profile/04082981127553205332noreply@blogger.comtag:blogger.com,1999:blog-34563578.post-44623466615079696992011-03-24T20:55:39.364-04:002011-03-24T20:55:39.364-04:00We need a loan to pay for our non discretionary ca...We need a loan to pay for our non discretionary capital needs for the next ten years. This is a fact that is not disputed by anyone. After careful research and a weighing of all possible options a majority of the board, The General Manager, an independent loan consultant and our accountant are all in agreement that the loan discussed at the last meeting is a wise and financially sound move that represents the best possible option for our co-op. Our loan consultant was clear that the size and type of this loan is very normal in the NYC Co-Op community and appropriate for a complex of our size. She stated that we are in healthy financial shape and taking on this kind of loan would not change that fact. Our General Manager reiterated that all of the planned capital projects represent either legally mandated issues or must-do projects like roofs, heating, water. Thank you for your support of the experts and this loan that ensures MHHC is run with balanced operating budgets and a secure line of cash for what we need over the next ten years. <br /><br />Adam Gerson<br />4/11AAnonymousnoreply@blogger.com