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. (HGAR)
September 22, 2020 via Zoom and at HGAR offices in White Plains
HGAR Management, Financial & Membership Reports
CEO Richard Haggerty provided an update relating to the completion of the merger with the Bronx-Manhattan Association of Realtors (”BMAR”). He welcomed Eliezer Rodriguez, former CEO of BMAR, and Vincent Buccieri, former President of BMAR, and both thanked all of the individuals involved with the merger.
President Fattizzi then presented the President’s Report, and proposed to the Directors to have HGAR Leadership consultant David Severance and Nicole Furlonge, PhD, a Columbia Professor and Diversity and Inclusion consultant, who has been engaged to assist the Diversity Task Force with the creation of a Diversity Committee, to be present at the October Directors meeting to facilitate a discussion regarding fiduciary responsibilities, as well as facilitating a discussion in connection with issues relating to diversity, which the Directors agreed to.
Joel Gilbert, CPA, of the accounting firm of Lesser, Leff & Company, LLP, accountants for HGAR, provided a detailed review of the 3rd and 4th Quarter HGAR Financial Statements for 2019, as well as the 1st Quarter HGAR Financial Statements for 2020. After review and discussion, the Board approved receipt of the Financial Statements as presented.
Immediate Past President and Chair of the Nominating Committee Ron Garafalo then informed the Board of Directors that former Director Maryann Tercasio was chosen by the Nominating Committee to fill a current vacancy on the Board of Directors, and the Directors confirmed the selection.
Garafalo then presented the Report of the Nominating Committee to be presented at the HGAR Annual Membership Meeting and to be voted on by the Members. Mr. Garafalo also pointed out that the Report of the Nominating Committee included the slate of Officers to be voted on by the Board of Directors at the Board of Directors Meeting following the Annual Meeting.
President Fattizzi requested the Board of Directors consider a contribution of $5,000 to the NYSAR Education Foundation and a separate contribution of $5,000 to the NYSAR Housing Opportunities Foundation. Both of those contributions were included in the 2020 HGAR budget. After discussion, the Directors approved the respective contributions.
Diversity, Equity and Inclusion Task Force
President-Elect and Chairperson of the Diversity Task Force Crystal Hawkins Syska provided an update relating to formation of a Diversity Committee. Hawkins Syska reported that the Task Force engaged Dr. Nicole Furlonge to assist the Task Force with the development of a Diversity Committee and plan for diversity and inclusion going forward. Chair Hawkins Syska reported that the Task Force is recommending that a new staff position be created to spear-head diversity initiatives. Hawkins Syska further reported that the Task Force would look to solicit bids to have a new survey conducted of the entire membership of HGAR. The survey would be specifically focused on diversity and inclusion issues. The Task Force also recommended the establishment of a Diversity Steering Committee, in addition to a Diversity Committee At-Large. Chair Hawkins Syska asked the Directors to carefully review the report prepared by Dr. Furlonge on behalf of the Task Force, copies of which were e-mailed to the Directors. Chair Hawkins Syska indicated that the Directors will be discussing same at subsequent meetings.
Committee Reports
President Fattizzi pointed out to the Directors that reports of the various Committees and Councils (i.e. Education Council, Fair Housing Committee, Legislative Committee, Professional Standards Committee, RPAC Committee, and Global Business Council) had been provided to them via e-mail and also included in their Directors’ packets. President Fattizzi also indicated that reports of the Commercial & Investment Division, Women’s Council, HG REALTOR Foundation Program Committee, Members Day Workgroup and the Recognition Committee, were also provided to the Directors.
Annual Meeting
President Fattizzi reminded the Directors that HGAR’s Annual Member’s Day and Annual Membership Meeting would be held virtually on October 26th and October 27th. On October 26th, a day of individual break-out sessions will be held throughout the day. On October 27th, the Keynote Speaker, Ricky Mendez, will be presenting from 10:30 s.m. to 11:45 a.m., and the Annual Meeting and Awards Presentation will be held from Noon to 1:00 p.m. She noted that per the decision of the Recognition Committee, only three awards would be presented at this year’s Annual Meeting. (Realtor of the Year, Affiliate of the Year and the President’s Award).
Receive original business news about real estate and the REALTORS® who serve the lower Hudson Valley, delivered straight to your inbox. No credit card required.