Page 17 - CooperatorNews New York September 2021

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COOPERATORNEWS —
SEPTEMBER 2021
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Conservatorships
Conservatorship (or guardianship,
as it’s also known in some states) is the
appointment of someone to protect the
interests and estate of an individual. “It’s
usually for mental health situations,” says
McCracken. In a co-op or condo context,
it’s usually considered when an elderly or
infirm person cannot take care of them-
selves. “We might seek a guardian to help
them manage their affairs,” McCracken
continues. “It’s a way to get family mem-
bers involved, so [the struggling resi-
dent] doesn’t get kicked out on the street.
You consent to guardianship in order to
protect their interest. It is focused on a
person instead of real property.”
Unlike something like power of attor-
ney, conservatorship is more of an emer-
gency situation, says Barnett. If someone
becomes disabled, she explains, or an
elderly person in a condo can’t properly
care for themselves (or puts other resi-
dents at risk) and the family won’t inter-
vene, a conservator may become neces-
sary.
In New Jersey, Piekarsky points out,
there is a difference between a conser-
vatorship and a guardianship. “If one
can no longer handle one’s affairs, it’s a
guardianship—not a conservatorship. A
conservator is by consent; you haven’t
lost your mind yet. Once you’ve lost your
mind, it’s a guardianship. There’s also
something called a civil commitment,
where someone can be put in a facility to
care for them.”
Different states have different terms
for—and different thresholds for invok-
ing—these powerful legal tools, so it
goes without saying that no matter the
scale of the situation, it’s vital to consult
competent legal professionals licensed to
practice in your area to help guide you
through the options available in your
specific case, and determine the best way
forward.
In the long run, the benefit of receiv-
erships and conservatorship is that there
is a court-appointed, highly qualified,
licensed and insured person looking out
for the best interest of a struggling asso-
ciation or individual, depending on the
legal mechanism employed. They are fi-
duciaries, acting impartially on a court’s
direction to fix a difficult situation and
get a property or estate running smooth-
ly again.
n
A J Sidransky is a sta writer/reporter for
CooperatorNews, and the author of several
published novels.
Recently completed at STC is the instal-
lation of a new boiler with an updated Real
Time Energy Management (RTEM) system
that can control the heat based on indoor
temperatures and will provide real-time
alerts and analytics to building management.
Th e system also allows for remote control of
the boiler from phone, computer, or man-
agement system. Th e burner will function
on both gas (primarily) and oil (in case of
emergency), reducing the overall building
CO2 output. Smart temperature sensors
have been placed in more than one-third
of the residential units to more accurately
monitor whole-building temperatures. A
separate 750,000 BTU water heater is also
being installed that will result in greater wa-
ter effi ciency and energy savings, especially
aft er wireless Intech 21 Power Meters PM-
2104 are installed in each apartment, creat-
ing an opportunity for shareholders to be-
come more aware of their personal energy
usage.
A recent roof re-insulation and sealant
membrane provide energy effi ciency by
keeping the building cooler in summer and
retaining heat in the winter; the co-op is cap-
italizing on the new roof’s 25-year warranty
by adding 301 LG solar photovoltaic mod-
ules of 350 watts DC each and SolarEdge
inverters with optimizers for the panels. Th e
system is expected to have an estimated an-
nual production of 120,167 kWh AC and
complies with the mandates of Local Laws
92 and 94 that require all buildings undergo-
ing roof renovations or replacements, in ad-
dition to all new buildings, to include a solar
photovoltaic system, a green roof system, or
a combination of both.
According to Jones, STC’s boiler conver-
sion has already yielded substantial savings
in fuel costs for the co-op. Th e fi rst four
months of 2021 alone saw a $71,892.36 sav-
ings compared to the same period in 2020.
Th e co-op has additionally earned $8,407.24
in credits from the solar installation between
December 2020 and April 2021.
Bronx Strong
Th ese grassroots, community-instigated
undertakings are just some examples of
buildings and neighborhoods in the Bronx
being at the forefront of green initiatives,
providing models for the rest of the city and
state as they lead the country in aggressive,
progressive climate policy. With residential
buildings positioned as major contributors
to the climate crisis—and thus responsible
for a large proportion of improvements and
compliance meant to achieve reduced emis-
sions—we can all take a note from these eco-
pioneers up in Th e BX.
n
Darcey Gerstein is Associate Editor and Sta
Writer for CooperatorNews.
THE BRONX...
continued from page 10
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