2008-05-09 / Letters

Exposing The Crisis To Light

Dear Editor,

I would like to take this opportunity to extend my personal thanks to The Wave's Managing Editor, Howard Schwach and staff reporter Nicholas Briano, in its publication of two excellent articles "DBP Residents Drowning In Water Debt" (April 11, 2008) and its follow-up "DBP Water- Shocker: Board Knew of Delinquency Problem Last Year" (April 18, 2008). Dayton Beach Park Shareholders are finally beginning to learn the real truth on how the cooperative has been managed and why it continues to find itself in serious financial debt year after year, despite several major maintenance increases in the past decade.

It is undisputed that Dayton's Board of Directors has been controlled predominately by the same small group of individuals over the last twenty years. The decisions made by this group have proven to be at minimum unethical as they continue to breach the legally binding fiduciary responsibility to Dayton's residents. Perhaps the most heartless and cruel of these breaches was the decision by the current and former board majorities to mislead Dayton's shareholders about Dayton's money problems and sit back idle as the buildings deteriorate and vital services are jeopardized. It is unfathomable that Dayton's board allowed the co-op's water bills not to be paid for two years and hid that fact from the shareholders only to be exposed in the newspapers.

The Wave's expose' has been invaluable. It IS absolutely outrageous that despite Dayton taking the shareholders' money in maintenance fees every month claiming to pay for the building's upkeep, the water bills for all five Dayton Beach Park buildings went unpaid for two years.

Now, the families, seniors and hardworking people will be forced AGAIN to pay for this group's dishonesty and selfishness in a new maintenance increase being brokered behind closed doors.

Thank you again for your help in bringing this crisis to light.

JENNIFER GRADY

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