LEGAL CORNER: NYC Passes the FARE Act and Restricts the Payment of Commissions by Tenants
The real estate industry has expressed concerns regarding the potential repercussions of the FARE Act.
Boardroom Report
Boards of Directors
Hudson Gateway Association of Realtors, Inc.
March 22, 2023, at the HGAR Offices, White Plains, New York
HGAR Management, Financial & Membership Reports
President Tony D’Anzica presented the President’s Report. President D’Anzica reported on HGAR’s attendance at the MIPIM (Le Marche International des Professionnels de L’Immobilier) which took place in Cannes France. He continued to discuss future global events and activities and the need for increased future involvement and the connections that can be made with the various Economic Development Councils. Additional information and highlights were provided by Cathleen Stack, Chief Marketing Officer.
Interim CEO Jana Currier presented the CEO’s Report. Interim CEO Currier introduced Amy DelliPaoli, HGAR’s new Director of Member Engagement. Thereafter, Currier reported on security issues in the White Plains building and a mugging that took place in one of the stairwells. It was recommended that members use the elevator to access lower floors. The building’s new owner, Hines, was aware of the issues and was addressing them.
Interim CEO Currier then invited those Board of Director members who were not present at the recent Installation Gala to come forward and be sworn in. Thereafter, the following Board of Director members were officially sworn in: Joseph Cosentino, Diane Mitchell, Roberta Bangs, Carole McCann and Lee Presser.
In-house Legal Counsel Brian Levine reported on the new HGAR membership applications as of February 2023, and after review, the Directors approved the applicants.
Treasurer Joseph Lippolis presented the Treasurer’s Reports as of March 1, 2023, a copy of which was provided to the Directors. Discussion was held regarding FDIC protection and the investment portfolio. Treasurer Lippolis presented the new Month-over-Month Budget vs. Actuals: Summary (January 2023-February 2023) (“Treasurer’s Monthly Report”). Thereafter, the Directors approved a motion receiving the Treasurer’s Reports and filing for audit.
In-house Legal Counsel Levine presented the latest Ethics Decisions to the Board of Directors, presenting Ethics Decisions designated as 302-E and 303-E, which were provided to each of the Directors prior to the Meeting. After reviewing the Directors approved the decisions.
In-house Legal Counsel Levine made a presentation on the Professional Standards training seminar with Diane Disbrow, scheduled for March 24, 2023.
Ron Garafalo, RPAC Co-Chair, provided the recent RPAC report. It was reported that HGAR was at 64% of its 2023 goal, with 85% Board of Directors participation and 92% chair/vice-chair participation. The goal of 100% participation is targeted for May 15, 2023. It was also noted that there was a 64% total participation by HGAR membership. Anthony Domathoti, Immediate Past President, reported on the upcoming Lobby Day. RPAC Co-Chair Garafalo later identified the next RPAC event scheduled for March 29, 2023, in Rockland County and briefly discussed future RPAC events.
President D’Anzica reported on behalf of the Bronx Building PAG. He reported that the feasibility study had been received and was being reviewed. The PAG was waiting on potential drawings for the building. A BPO (broker price opinion) had been ordered and the results were in line with estimates. Lastly, it was emphasized that regardless of the future of the building, the building still required maintenance.
President D’Anzica reported on the Real Estate In-Depth PAG. He reported that a new survey, created with the assistance of Tracy Weir, was solicited through various vehicles to the membership. To date, 188 members have taken the survey. It was noted that 600-700 responses would constitute a sufficiently significant sample for the survey to be helpful. Cathleen Stack, Chief Marketing Officer, added that two notices were sent to the membership and another notice would be sent in the print version of the newspaper with a QR code that would link to the survey.
Broker Owner Manager (BOM) Co-chair, Rey Hollingsworth Falu, reported on the upcoming Broker Owner Manager event scheduled for March 30, 2023. The event will showcase succession planning along with breakfast. The event is sold out. The next event is slated for June 13, 2023, and will focus on Artificial Intelligence (AI).
President D’Anzica reported on Lobby Day. He indicated that 64 members have currently signed up.
President D’Anzica reported on the Global Real Estate Summit. He reported that a new venue, Lincoln Center at Fordham University, had been selected for this year’s event and noted that there would be no charge for the use of the venue. He added that there were currently 11 associations participating, including The Canadian Real Estate Association (CREA).
Gary Connolly, Chief Strategy Officer, reported on the Diversity, Equity, and Inclusion (DEI) Summit. Connolly reported that the upcoming event would be held on June 5th and 6th. It is anticipated that there would be classes offered on June 5th and the Summit would be held on the 6th. The location of the Summit would be at the Sleepy Hollow Hotel and Conference Center. He reported that multiple associations were participating, including NYSAR and NAR. Michael Malone, Director of Professional Development, confirmed that education courses would be offered. DOS approval for those courses was still pending.
Young Professional Network (YPN) Chair, Darin (Nan) Palumbo, reported on upcoming YPN activities, including an April 14, 2023, class on lending and a joint YPN/BOM event on June 13, 2023, on AI. A Sept. 12, 2023, event was also being proposed relating to Realtor safety.
Commercial Investment Division (CID) President, Clayton Livingston, reported about its productive involvement with MIPIM and an upcoming CID meeting on March 23, 2023. President D’Anzica reported that OneKey MLS may be undergoing some new upgrades for commercial listings and stated that the next meeting was being scheduled for May 25, 2023.
Interim CEO Currier reported that the next Board of Directors meeting will be held in the HGAR Goshen office on April 12, 2023.
Eliezer Rodriguez, Regional Director of Government Affairs, reported on the upcoming April 25, 2023, bowling event that will take place in White Plains and is being organized by the HGAR Bronx Chapter. Rodriguez encouraged participation and the solicitation of lane sponsors so they can reserve the entire floor.
There being no further business before the Board of Directors, the meeting was adjourned.
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