9:30am - 10:30am, Room 1
Common Charge & Maintenance Collections—Effective Strategies for Co-ops & Condos to Maximize Recovery
Sponsored by: Schneider Buchel LLP
Speaker: Marc H. Schneider, Esq.
Residents who do not pay their common charges and maintenance are a significant issue for co-op and condo communities—today more than ever. The pandemic and now inflation have created financial pressures on many residents. The lack of predictable, consistent cash inflow from maintenance and common charges can lead to unpaid bills, neglected maintenance, and delayed capital projects. How your board deals with the arrears will significantly affect the likelihood and speed of recovery of the arrears. Come find out the best approach to handle the non-paying residents and recover the most unpaid monies—including interest, late fees, and legal fees.
10:30am - 11:30am, Room 2
Lending Guidelines, Capital Project Planning, & Reserves
Sponsored by: Kagan Lubic Lepper Finkelstein & Gold, LLP
Jack E. Lepper- Managing Partner, Kagan Lubic Lepper Finkelstein & Gold, LLP
Adam D. Finkelstein- Partner, Kagan Lubic Lepper Finkelstein & Gold, LLP
Denise C. Sagua- Attorney at Law, Kagan Lubic Lepper Finkelstein & Gold, LLP
If your co-op or condo is considering a major capital project, it's never too early for your board to begin planning, familiarizing itself with current lending guidelines, and thinking about how the community's reserve funds will be replenished once the work is complete. Come get a financial head start on your next major project, including a discussion of Fannie Mae and Freddie Mac 2022 lending guidelines, replacement reserves, and how to put together a clear, intelligent plan for capital improvements.
11:30am - 12:30pm, Room 1
Making Solar Work for Your Building—Cost Savings, Economic Incentives, Local Law Compliance, & Cleaner, Greener Energy
Sponsored by: Best Energy Power
Speaker: Ronnie Mandler, Owner/President, Best Energy Power
Many co-op and condo boards are exploring solar as a potential source of energy for their buildings. This enlightening conversation will explain how solar works, break down the costs involved—as well as incentive and subsidy programs and financing options—and decode the ROI equation for boards and residents to help your building save on operating costs. Importantly, it will also explain the new Local Laws 92, 94, and 97, which require buildings over 25,000 square feet to have solar on the roof, and how the laws apply to co-ops and condos. This conversation will address any concerns you may have for going green by going solar.
12:30pm - 1:30pm, Room 2
Umbrella Insurance for Condo & Co-op Buildings—Mitigating Risk from Excess Liability
Sponsored by: FirstService Residential
Sean Kent - SVP, Insurance, FirstService Financial
Ben Kirschenbaum - VP & General Counsel, FirstService Residential
Christina Forbes - SVP, Condo/Co-op Division, FirstService Residential
Commercial umbrella coverage is an essential protection from big liability claims against your building—but insurance markets have grown increasingly volatile in the last two years, and there are fewer programs offering adequate protection from major claims, including worker fatality or serious injury during capital projects. This expert panel will cover everything from the state of the insurance market to NYC labor law, and demystify important concepts like tort claims, risk transfer, and the importance of adequate D&O coverage to protect board members from liability.
1:30pm - 2:30pm, Room 1
Refinancing Your Co-op’s Underlying Mortgage in Ever Evolving Capital Markets—Structuring Your Financing for the Future
Sponsored by: Meridian Capital Group
Steven Geller - Managing Director, Meridian Capital Group
Nicoletta M. Pagnotta - Senior Vice President, Meridian Capital Group
Avi Geller - Vice President, Meridian Capital Group
Jordan Hill - Associate, Meridian Capital Group
The financing landscape for co-ops has never been more diverse than it is today, or more customizable for a community's unique needs. The array of options for structuring a mortgage to help your co-op accomplish its long-term objectives is truly unprecedented. Come find out how your board can collaborate with its financial advisors to take advantage of what is actually an exciting time in the mortgage market!
2:30pm - 3:30pm, Room 2
Leaks, Fires, & Construction Damages—Are You and Your Co-op or Condo Ready for the Next Crisis?
Sponsored by:Smith, Buss & Jacobs LLP
Kenneth Jacobs - Partner, Smith, Buss & Jacobs LLP
With costs rising—and accidents and property damage a perpetual worry for boards and owners alike—it’s vital that both you and your co-op or condo association be properly insured against liability and loss. Boards and residents also need to understand what their policies do—and don’t—cover, who insures what property, what size deductible they should carry, and under what circumstances claims should be filed. This expert panel will address all these issues and more, including what your insurance actually covers, who pays for repairs vs. restoration costs, making sure your contractors are adequately covered, and insuring against new risks like cyber hacks and ransomware.