President's Message

Dear Fellow Shareholders,


On behalf of the Board of Directors, I would like to take this opportunity to provide you with an update on our cooperative residential community .Also,we would like to welcome our new shareholders.

The past year has brought both progress and many challenges. I am pleased to report that through the combined efforts of the Board of Directors, management, staff and shareholders our corporation continues to improve and remain competitive with our neighboring corporations. Our goal is to protect your investment in Mitchell Gardens No. 1 Cooperative Corporation.

The Board has been focusing on several key priorities:
1.BUILDING MAINTENANCE AND CAPITAL IMPROVEMENTS
Regular upkeep and preventative maintenance remain a top priority. Major projects have included new LED lighting, modernization of our existing water and heating systems, repair of fire sprinkler system, repairing of the parapets, repairs to the roofs, and the restoration and renovation of our landscaping. Much work still needs to be done to maintain our aging buildings.

2.FINANCIAL STABILITY
Much attention has been given to protecting our financial stability. We have engaged additional profession assistance to improve our financial stability. We now consult our planned budget before spending for non-essential projects. We also require three proposals on all major projects. The Board is grateful for the trust and cooperation of our shareholders.


Regards.


BARRY D BOGRAD
President