City Council District 11 Candidates Talk Co-ops/Condos

With an important special election for our local City Council representative fast-approaching, the Association of Riverdale Cooperatives & Condominiums (ARC) believes it is important to
know how each of the candidates seeking to represent Council District 11 regards several of the important issues confronting co-op boards, co-op shareholders and condo owners.

In its effort to provide its membership and residents of our community with the insight necessary to be informed voters, ARC asked all of the candidates the same questions about co-ops and condos, and the unedited written responses from Eric Dinowitz, Jessica Haller, Daniel Padernacht and Kevin Pazmino are published here, exactly as received. Note that Carleton Berkley and Mino Lora did not respond to numerous requests for their answers.

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Consolidated Appropriations Act extends COVID-19 benefits

The Consolidated Appropriations Act, 2021 (the “CAA”) extended employer tax credits for COVID-19 paid sick leave and expanded family and medical leave through March 31, 2021. Employers must continue to obtain and keep required records to substantiate any tax credits taken for such leave payments. But, the CAA did not extend employees’ entitlement to leave under the FFCRA past the original expiration date of December 31, 2020.

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Residential Cooperatives May Now Get Paycheck Protection Program (PPP) Loans

The most recent federal Coronavirus stimulus law, finally signed on December 27, 2020, extends the PPP loan program to residential cooperatives.

PPP loans are loans made by banks that are 100% guaranteed by the United States Small Business Administration, with up to 100% of the loan being eligible for forgiveness if the borrower spends an amount equal to the loan proceeds on specific types of expenses.

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Building Efficiency Ratings Must Be Posted

As of 2020 buildings larger than 25,000 square feet are required to post a Building Energy Efficiency Rating Label containing the building’s energy efficiency grade at each public entrance. The label must be posted at each public entrance of your building by October 31, 2020. 

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