November 8, 2005 Unapproved Minutes

Present: Michael, Matt, Alan, Brian, Laura, Steve, Jonathan, Stacey,
Peter

Staff: Bert, Lucie, Shawn

0) Call to order, 6:09

1) Approval of Minutes
  MOTIONED: Jonathan
  SECONDED: Alan
  SO MOVED

2) Financial Update (Shawn)
  * Got our draft audit back.
  * Should have final audit next meeting.
  * Started two companies to own the Dreyfus in order to handle the tax
    credits. One limited partnership, one general partnership.
  * Small surplus last year (~8k).  
  * Opening date for downstairs: January 1st
  * Liquor service is up and running on an ad-hoc basis
  * Class B or D License?
    - Appropriateness of D licenses is up to each city, so its
      applicability may be limited in future.
    - To have a B license, we'd need to put the bar into a separate
      corporation.
    - We are looking into expanding our D license instead of the B
      license.

3) Directors' Report

  * Summary of presentation to the Wallace Conference. (See the email
    that Shawn sent out on 11/8).

  * Broad Street 
    Remarkable progress; recruitment, staff morale.
      (Bert meets with each staff person individually once a week)
    Posted director position internally (to paid administrative staff).

4) Nominating committee 
  Motion to accept Peter Costa to the Board of Directors
  MOTIONED: Michael
  SECONDED: Jonathan
  SO MOVED

5) Capital Campaign Update

   * First Floor Improvements: almost there
   * New Food Operator: Taqueria Pacifica: sign the lease tomorrow.
     We hope to get them setting up by mid-December, up and running 
     by 1 January.
  
6) Dreyfus Update
  * Two more pending funding applications, hoping rest will be done 
    by next meeting.
  * Drawings 90% done.
  * Commercial tenant moving along well.

7) Other business; 
  * Third floor would like one slot on the board reserved for a tenant.
  * Third floor representatives expressed frustration with maintenance
    of third floor as well as the increase in rents. They presented a
    letter to the board outlining specific concerns, but acknowledged
    that Bert and Shawn have acted on a number of these, though
    lingering concerns with the general management of the property
    continues.

8) Adjourned at 7:39pm
  MOTIONED: Michael
  SECONDED: Jonathan
  SO MOVED