Deal reached with Co-op City workers
(08/07/03) CO-OP CITY - The union representing Co-op City workers reached an agreement with management on Thursday ending fears of a possible strike.
With help from Bronx Borough President Adolfo Carrion Jr., Riverbay, the company that manages Co-op City, and representatives from Local 32BJ agreed on a four-year contract.
Under the new contract, workers will receive a salary increase of $20 per week for the first two years, $30 per week in the third year and $32.50 per week in year four. Workers will also get a better health plan and an increased pension and retirement fund.
The president of the Riverbay board says the workers at Co-op City are part of the family and that they deserve a raise, but the company is in dire straits.
Workers say they are happy with the contract, and residents are happy there will be no strike.
Now that one problem has been resolved, Riverbay must now deal with its parking garage crisis and financial troubles.
The contract is expected to be ratified and approved by both parties by next week.