May 10, 2005 Unapproved Minutes

Present: Laura, Winsor, Steve, Michael, Keith, Seth, Brian, Stacey, Marlaine

Staff: Lucie, Bert, Shawn

1) Steve: Call to order, 6:14

2) Finance Report (Shawn)

  * Shawn and Alfred are now adding projections through 
    the end of the FY.

  * Look to be on target for our 20 Fest goals.

  * Started budgeting process for next year.

  * Trying to get staff up to a Living Wage, of a salary
    just under $30k (up from $25k).

3) Presentation: Michelle LeBrun (www.HarkenProds.com)

  * Past two years: working on short documentaries with youth who 
    are in lockdown high schools.

  * In Providence: Working on documentaries with the Broad Street kids,
    capturing the perspective of the youth, as well as man-on-the-street
    interviews regarding community perspective on the youth. Attempting
    to capture the transition out of the training school.

    Premiere: August 7, RISD Museum

4) Dreyfus (Lucie)
  
  * We own it! Last Thursday, 2:28pm

    Acquisition made possible through an interest free (until we rent it out)
    loan from the city.

    Various categories of tax credits (State, Federal, Historical, New
    Markets).

    Will acquire a bridge loan to complete the build out.

    Need to shift the corridors for optimal configuration, and
    required approval from federal government. The approval was
    granted.

    If all goes well, we'll begin construction in the last quarter of this
    year.

    Live studios: targeted at artists with 50% or less of median income.
    
5) Capital Campaign (Lucie)

   * Got the Certificate of Occupancy for Muldowney's, they are in operation.

   * AS220 is shut down for May and June.
     Demolition started May 1.
     Demolition photos on the web site.

   * Funding:
     
     Completing performance space is top priority (~$350k).

     We have enough to complete facade work, Muldowney's, and Roberto's.

     $50k from Textron ($31k to AS220), individual donation of $10k,
     plus value of tax credits, outstanding pledges, and federal money
       = $373k

  * Dining:

    Put out an RFI (Request for Interest) to a group of interested parties.
    Board is encouraged to put interested parties in touch with Lucie.

  * Steve is distributing a memo confirming our pledges. We need 100%
    participation.

6) Director's Report

  Kudos to Marlaine and Scott for their work on the Photo Lottery.

7) Approval of the Minutes from 4/2005
  MOTIONED: Michael
  SECONDED: Seth
  SO MOVED

9) Adjourned at 7:47
  MOTIONED: Michael
  SECONDED: Laura
  SO MOVED