Chair Sanchez on HPD support for co-ops with shareholder arrears and governance challenges

And on the topic that's perfect, I'll wait to my next question, is outstanding payables.

One of the things that we hear about a lot in Kingsbridge Arms, for example, is that there's a lot of shareholders that are behind on their maintenance fees.

It's an issue at HDFCs and just so many co-ops.

What does HPD have to offer these co-ops that are having these governance challenges and working with their shareholders?

Yeah, so we're...

Do you want to...

So our...

Housing Supervision team will provide actual training, technical assistance training, working directly with the boards on how to govern their buildings and what to look for.

And so we do that in-person training.

We do virtual training.

We have online webinars available.

And so we're constantly looking for other opportunities to partner with organizations to do that.

And I also, because we're sitting here, just want to lift up the fact that we have asked for resources and funding to be able to really get into building the capacity of these boards and work with our managing partners.

We're doing all we can, but we would also like some resources to do more.

Okay, let us know how.

You know the deal.

We're always here to advocate for those funds.

I had a specific case.

It's not a Michilama.

It is an HDFC.

But I think the issue carries over in terms of a building that was not able to submit, for whatever reason, their property registration, that has a lot of shareholders that are in arrears, that has wanted to take folks to court and seek an eviction.

Julie and I were speaking two days ago with members of the team about this very question.