Category: News & Announcements

Dear Shareholders,

NYS recently set a cap on the annual increase allowed under the STAR (School Tax Relief) program and retroactively applied it to the 2011/2012 fiscal tax year ending June 2012.

On your August maintenance bill you will notice a charge called “STAR” for $15.34. This is the NYS chargeback to STAR recipients that represents the excess of the allowable amount based on the cap.
Your June bill reflects credit of ($303.59) less this chargeback of $15.34 resulting in a net credit of ($288.25).

For those of you who do not receive the STAR rebate you may apply for it directly with NYS.

There are two types of STAR exemptions:
Basic STAR

• available for owner-occupied, primary residences where the resident owners’ and their spouses income is less than $500,000
• exempts the first $30,000 of the full value of a home from school taxes

Enhanced STAR

• provides an increased benefit for the primary residences of senior citizens (age 65 and older) with qualifying incomes
• exempts the first $62,200 of the full value of a home from school taxes as of 2012-13 school tax bills (up from $60,100 in 2011-12)

STAR exemptions apply only to school district taxes. They don’t apply to property taxes for other purposes, such as county, town or city (except in cities where city property taxes fund schools – Buffalo, New York City, Rochester, Syracuse and Yonkers).

You can use the following link to learn about the program and apply.
http://www.tax.ny.gov/pit/property/star/apply.htm

Be advised that the deadline to apply for the 2012/2013 fiscal tax year was March 1, 2012. The deadline for the 2013/2014 fiscal tax year is March 1, 2013. You only need to apply for this program one time and will continue to automatically receive the credit on your apartment every year unless it is terminated by NYS. If you sell your apartment and purchase another primary residence in NYS you must reapply.

I apologize for not having this information available to distribute to you before you received your August bill.

Have a good weekend

Mitchell Stein
Account Executive
Senior Financial Analyst
Orsid Realty Corp
310 Riverside Drive
New York, NY 10025
Direct 212-864-1700
Fax 212-866-8709
www.orsidr.com

Manhattan Borough President Scott M. Stringer, in cooperation with Congressman Charles B. Rangel, State Senator Adriano Espaillat, Councilmember Inez E. Dickens, Councilmember Melissa Mark-Viverito, and Community Board 7 Invite you to a
Town Hall Meeting
Do you live in the West 90’s or West 100’s?
• Speak to representatives from government agencies • Talk with your neighbors
• Share neighborhood concerns and get your questions answered
Wednesday, July 18, 2012, 6:00 PM – 8:00 PM
Ansche Chesed 251 West 100th Street
(between Broadway and West End Avenue)
RSVP 212-669-4462 or events@manhattanbp.org

Please be advised that a contractor will begin scraping, priming and painting the fire escape on Monday, July 16th and is scheduled to be completed by Friday, July 20th, weather permitting. The work will take place between the hours of 9:00 AM – 5:00 PM.

During this time, please be sure to keep your windows and blinds closed to maintain privacy as the workers will be traveling up and down the fire escape at all times during the workday.

During the scraping process, the entire fire escape will be encapsulated in plastic to eliminate any debris from exiting the encapsulated area. The encapsulation will be removed prior to priming and painting.

PMK Contracting was hired to perform this work and is fully certified, licensed, insured and will be performing all work in accordance to NYC Code regulations.

Please note that your replies to this email are not forwarded to us. If you would like to reply to this email you should address an email to mstein@orsidr.com or dskupinsky@orsidr.com.

Thank you,

Donald G. Skupinsky
Account Executive
Orsid Realty Corp.

Board of Directors Meeting 875 WEA Apartment Corp June 20, 2012, 6-8:00 PM
Update on Projects:

1. Repair of Back Marble Stairs. The steps of floors lobby-4 have become worn and will be repaired.
2. Fire Escape Painting. The fire escape has become rusty and will be painted some time during the summer or early Fall.
3. Insertion of Water Back Flow Valve. The New York City Buildings Department is requiring the installation of these valves in all buildings. This work will require a water shutdown for one day.
4. 875 West End Ave Website. Please visit the new website at: http://875westend.com. All sorts of useful information can be found at this site.
5. Annual Shareholder Meeting. Wednesday June 27th at 7 PM. Please attend. Please vote.

Mitchell Stein, Account Executive
Senior Financial Analyst, Orsid Realty Corp
310 Riverside Drive, New York, NY 10025
212-864-1700 | Fax 212-866-8709
www.orsidr.com

875 WEA Residents—
The email distribution list I am using is tied to our old website, cannot be accessed and needs updating.

If you’d like to be on our new building-wide email distribution list please send me a new email from each separate email address you’d like included. Please include the name and apartment number associated with each address.

On the subject line please write: email for website.

Of course this list is only for important 875 WEA communications by management and Board of Directors.

The distribution list can be updated in the future if you decide not to be included now. However, you will not receive building-wide emails if we haven’t got your email address. We will continue to deliver notices under doors, with postings in the mail room and elevators, to ensure everyone is aware of important building-related matters.

Mitchell Stein, Account Executive
Senior Financial Analyst, Orsid Realty Corp
310 Riverside Drive, New York, NY 10025
Direct 212-864-1700 | Fax 212-866-8709
www.orsidr.com

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