Apartment Official Says Figures Wrong
A representative of the board of directors of Colonial Square Cooperative has said that certain figures appearing in a story in yesterday’s News are inaccurate.
The story stated that the cooperative will be exempted from taxes this year, saying instead an amount equal to 10 percent of rents collected.
The News’ story said a six-room apartment rents for $107, while the spokesman said the rent is now $115 although older units still rent for the lower figure. He also said the maximum annual income for residents of the cooperative is $10,-450. The News’ story said it was $9,600, but the spokesman said this was changed last year.
If the resident’s income exceeds this figure, which is the maximum for a family with seven members, the rents are increased. He said they can be increased as much as $25. A re-evaluation of residents’ income —required every three years by the federal government—will be conducted this year and those exceeding maximum yearly income standards will have their rents raised, the spokesman said.
THU JUN 25 1968