Columbia Daily Spectator | 11/21/2013
This article is the second part of a three-part series looking at the challanges facing Housing Development Fund Corporation (HDFC) buildings in the city. Part one looked at a recent rise in foreclosures among HDFCs. Part three explores sales trends of HDFCs in Harlem.
Sharon King, a 32-year resident and shareholder of her affordable co-op building in Harlem, is frustrated. Until October, she was president of the board—a role she found to be a tireless struggle against other board members and residents.
“We’re supposed to have a financial report every month … we don’t want to have meetings,” said King, who lives in 137-139 West 116th Street, a Housing Development Fund Corporation building. As president, she said she couldn’t gain access to management or financial records for the building because the building’s two other board members refused to cooperate with her.
“I have no idea what we have in our checking account because they refuse to give me the management and financial records—they say ‘I’m not entitled to that,’” she said.
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Naomi Cohen | journalist 