Morgage says disputes divert resources and PRC underbudgeted RAD properties
Morgage says the conflict has diverted staff and board time from running the older adult center. She describes PRC as a bottom-line enterprise that underbudgeted its Manhattan RAD properties. PRC once said it needed investor approval to replace a faulty HVAC system, so Riverstone paid for the repair.
Fourth point, all of this has diverted the time, the energy, and the resources of the staff and board from the normal challenges of running an older adult center and serving our community.
It's been a stressful and combative experience.
We are at the mercy of a very bottom line enterprise that has clearly under budgeted its Manhattan bundle of rad properties and has its profit margin as its main, if not only consideration.
In fact, the PRC representative once told us that they would need to get the approval of their investors to replace a faulty HVAC system in the memory center.
Riverstone paid for the repair, but surely HVAC comes under the heading of building systems and should be PRC's responsibility.