Tennis stadium sale would ease debt
Sep 28, 2010 | 2811 views | 0 0 comments | 29 29 recommendations | email to a friend | print
Dear Editor:

Back in August, eyebrows were raised when Forest Hills Gardens Corporation president Mitchell Cohen stood with the Board of the West Side Tennis Club and Cord Meyer when plans to sell the club’s historic tennis stadium and build condos were presented to members. Many club members wondered why he was supporting the plan

At the annual budget meeting of the FHGC on Tuesday night- and in a newsletter dated Summer 2010- they got their answer.

According to Cohen there are several financial factors that would benefit the community: the corporation's maintenance income would increase by roughly $15,000 per year, and the payment of arrears and other club debts would be paid in full.

Additionally, there would be fees for the review of architectural plans; permits to place dumpsters/construction containers on FHG streets (which could be there for months- even years!); and sales of parking identification decals for motor vehicles unable to park in the proposed garage.

This may not sound like a lot, but according to the August 23rd letter from the Treasurers of the FHGC, Deborah Dillingham and Susan Gregg, “the Board of Directors has begun discussions on how to account for the loss of the WSTC arrears payments in 2013.” This is clearly one way they plan to make up for that loss.

From the Forest Hills Gardens blog

Comments
(0)
Comments-icon Post a Comment
No Comments Yet