February 8, 2005 Unapproved Minutes

Not Present: 
  Alan, Stuart, Mary Anne, Richard, Myron, Sean

Present: 
  Alfred, Laura, Marlaine, Steve, Patricia, Brian, Clay, Keith, Michael, Jonathan, Winsor, Manny

Guest(s): Seth Price

Staff: Lucie, Bert, Shawn

1) Steve: Call to order, 6:06

2) Approval of the Minutes:
  Motion to delay vote until next meeting
  MOTIONED: Steve
  SECONDED: Michael
  SO MOVED

3) Finance comittee (Alfred)
  Budget for 1 July 2004 to 30 Jun 2005:
    Income: $1.1M
    Expenses: Just over $1M

4) New member

  VOTE to admit Seth Price to the board
  MOTIONED: Steve
  SECONDED: Keith

5) Housekeeping

  VOTE to formally amend bylaws to permit voting by email
  MOTIONED: Michael
  SECONDED: Patricia
  SO MOVED

6) Capital Campaign  

  * $20k Request to the Providence Journal
  * $100k request to Textron
  * $100k request to Sovereign
  * State Historic Tax Credit application for Empire Street went in
    in December (credits are worth around $200k-$225k)

  * Committee update: we have recruited Capital Campaign
    advisors rather than committee members

  * Splinters has moved out, demolition is underway.

    VOTE to contract with Case Construction to build out 
    Muldowneys and Roberto’s space (not to exceed $300k).

      Authorization for the Artistic Director to execute a contract not to
      exceed $300,000 with Case Construction for the build out of Muldowney's
      new space at 121 Empire Street and improvements to Roberto's Barber Salon
      at 119 Empire Street. The scope of work includes a new storefront for
      each of the two premises.

    MOTIONED: Michael
    SECONDED: Jonathan
    SO MOVED

  * Recognition of Clay for his work on taking down the tin.
    + Followed up with a discussion of how to get more folks involved with
      volunteer efforts.

  * A look ahead:

    + We are into working drawings for the AS220 buildout
    + Intend to circulate the plans at next meeting
    + The money for this has not all been raised--it is in the pipeline.
      So, we will probably invoke the line of credit.
    + Expectation that there is significant revenue increase on the
      other side of these renovations.
    + Expectation at the end of campaign is that any debt (exercised
      as a stopgap between receipt of funds) will be paid off.

7) Dreyfus Building

  * 4-story building at corner of Washington and Mathewson
  * Our Program:
      Market-rate user on first floor.
      2nd-4th floor will be affordable studios for artists (9 work, 16 live).
      Live-studios will be more like efficiency.
  * Working on historic tax credit applications (state and federal)
  * Current estimated costs: $4,350,000
  * Purchase price: $755,000
    City has loan available that would cover this cost.

  VOTE to confirm January email AS220 board vote authorizing submission of HOME
  funds request to RIHousing 
    MOTIONED: Patricia
    SECONDED: Michael
    SO MOVED

  VOTE to accept $50,000 LISC recoverable grant
    "Authorization for the Artistic Director to execute a
     $50,000 Recoverable Grant Agreement with the Local Initiatives
     Support Corporation (LISC)."

    MOTIONED: Laura
    SECONDED: Keith
    SO MOVED
    One abstention: Manny 

  VOTE to retain consultant Barbara Sokoloff
    "Authorization for the Artistic Director to execute a
     contract for development consulting services for the Dreyfus with Barbara
     Sokoloff Associates, the overall fee not to exceed $42,500."

    MOTIONED: Patricia
    SECONDED: Jonathan
    SO MOVED

  VOTE to authorize submission of funding request for $500,000 to Housing
  Resources Commission, Building Better Communities Fund
    "Authorization for the submission of a $500,000 grant request to the
     Housing Resources Comission, Building Better Communities Fund for the
     re-development of the Dreyfus."

    MOTIONED: Michael
    SECONDED: Jonathan
    SO MOVED

8) Director's Report

   20th Anniversary event, The 20 Fest:
     VIP Dinner has been replaced with 1 year passes for donors.
     Entrance is free, not beer.

   Bert was nominated and appointed to the Providence School Board.

9) Adjourned at 7:37

  MOTIONED: Michael
  SECONDED: Keith
  SO MOVED