Not a ‘one issue’ board

To The Editor:
As a shareholder since the inception of Southbridge Towers in 1970, and now a present board member, I’m writing to take issue with Roberta Singer’s assertion (Letters to the Editor – Oct. 19) that the SBT Board of Directors is only focused on the reconstitution of Southbridge as a private cooperative.  I support the proposed amendment that would extend our present two consecutive (3 year-term) limit for board members to a 3 consecutive term limit.  My reason is threefold: our accomplishments; our long insistence that shareholders determine for themselves the issue of reconstitution; and the need to finish what we have begun.

Here is a partial list of what this supposed “one issue” board has accomplished these past 5 years:

• Sale of land to the City for $5.95 million for the creation of a beautiful new park
• Completion of the installation of new windows
• New hallway flooring
• Complete interior paint renovation of all hallways and stairwells
• Rebuilding of both garages
• Leasing of 55 Fulton Street for a full service supermarket
• Hiring of an full-time Security Director for improved safety

Current projects currently under construction or planned to begin shortly include:

• Installation of a new security camera system for greater safety
• Renovation of the children’s playground and creation of new outdoor seating area
• Outdoor lighting improvements that will be brighter and more energy efficient
• Renovation of all 9 lobbies
• Renovation of the Community Room and creation of new space for community activities

While it’s easy to second guess some of the board’s decisions, when you consider what we have achieved with only one small maintenance increase in five years, while maintaining a healthy $14 million capital reserve fund during these past 5 years, and all the while adhering to strict DHCR guidelines—that’s not so bad. Finally, since when has quality of life improvements become self-serving?
Anthony Russo

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