The rent from the stores is intended to help keep maintenance fees down.
The campanile neither leaned nor swayed, but was demolished to keep maintenance costs of this vast church to a minimum.
Interest-only mortgages, he said, are attractive to some co-op boards because they provide a way to help keep maintenance charges as low as possible for current shareholders.
"Depending on the building," she added, "the additional revenue is used for capital and cosmetic improvements, or in an effort to keep maintenance down, which is generally considered to be a positive value on apartments".
On the abatements, the shareholder should be aware that many co-ops impose an assessment on each eligible shareholder in the exact amount of the abatement to keep maintenance as low as possible, Mr. Weinstein said.
A conversion plan could also add major revenue to Co-op City's annual budget of $140 million by requiring those who sell their apartments to pay part of the profits to Co-op City to help pay off debt and keep maintenance fees low.
Yet while the rent increases may not be a panacea, the additional income from the new retail tenants has allowed the full-service co-op to keep maintenance low — it is just $3,100 a month for a 2,600-square-foot 2,600-square-foot 2,600-square-foote assessments to a minimum.
Also, Riedman has one important bit of advice to keep maintenance costs down: "I have customers who drive their cars every day and they're junk, and I have customers who only drive their cars when the sun shines and those cars are beautiful.
While expert groups, like the American Society of Civil Engineers have urgently warned that America should be spending trillions of dollars on our critical systems, including roads, schools and airports, it is clear that conservatives are willing to block progress on spending that would just keep maintenance and repair going.
