July 10, 2007

Meeting of AS220 Board of Directors

Present: Sam Seidel, Jonathan Bonner, Michael 
Chazan, Matt Cullina, Marlaine Noel, Brian Jepson, Clay 
Rockefeller, Richard Welch, Kipp Bradford, Stacey Jordan,
Laura Travis, Adeola Oredola, Manny Vales

Absent w/ prior notice: Seth Price, Kara Orr, Wendyll Brown, John Scott

Absent w/ out prior notice: Peter Costa, Keith Munslow

Staff: Bert Crenca, Shawn Wallace

Guest: Pich Chhoeun

1. Call to Order 6:15

2. Approval of Minutes

   MOTIONED: Michael
   SO MOVED

3. Nomination and Election of new member (Pich Chhoeun)

   MOTIONED: Matt
   SECONDED: Michael
   SO MOVED

4. Financial Report (Michael Chazan)

   Difference to budget of about 15k favorable.
   This was due to the development fee for the Dreyfus.

   Some skews between YTD and budget: fundraising ($137K 
   favorable) and Program Costs (50k unfavorable). Some of this
   was due to AS220 operating as a fiscal agent.

   Starting to work on the 2008 budget.

   Finance committee meets before the board meeting every month,
   about 45 minutes before the board meeting.

5. Dreyfus Update

   On the threshold of closing out the Dreyfus job (got our certificate
   of occupancy, most vacancies are full)

   We are shy only $100,000 of the total needed to pay the contract.
   The contractor has offered a loan to us to cover the remaining
   amount, and Lucie proposes that we:

   * Accept an unsecure, interest-free loan of $100,000 from the 
     contractor to AS220.

   * AS220 would loan it to the Dreyfus project.

   * Sometime after September 1, we will receive the last payment
     of the tax credit.  This will leave us with enough money to
     pay off the loan.

   * We will repay something between 50 cents and $1 on the dollar, 
     contingent on the value of credits actually received after
     we have applied that money to mandatory expenses.

   * This is necessary because we have to pay the contractor
     before we can receive the tax credit.

   Motion to authorize Bert and Lucie to negotiate with Trac
   Builders a loan from Trac Builders of $100,000 to cover 
   the outstanding Change Orders.

     MOTION: Matt
     SECOND: Clay
     SO MOVED

6. Broad Street Studio Update (Sam)

  Sam emailed the board with an update that covered the following items:

  * Funding News
  * Staffing News
  * RITS News
  * Young People News
  * Current Challenges
  * Upcoming Events
  * Update from AS220 Board Youth Program Subcommittee
  * Support BSS

  Sam proposed that we set up a wall where the name of former staff members 
  will go up and have some kind of ceremony when they leave.

  Sam would like to have a working meeting for the board at the training school
  in September.

7. Director's Report

  AS220 has applied for a leadership grant from Bank of America.

    The implementation of this grant will focus on cottage industries that
    have grown at AS220, and will address the creation of a business manager 
    position.

  Bert wants an HR committee on the board, which would convene as needed. 
  The role of this committee would be to handle HR issues that are escalated
  above the level of the Artistic Director. There is also room for them to
  be involved in such things as employee handbook, etc.

  Manny suggested looking into Employee Practices Liability Insurance (EPLI).

  Manny Vales, Brian Jepson, and Laura Travis agreed to serve on this committee.

8. Chair Report

  Matt will be sending out a note about 07/08 campaign committments and will 
  request your feedback.

  Matt has asked that board members participate in at least one committee.

  Membership is going forward, Jonathan and Laura have been working on the 
  membership discount card. Some vendors are coming on board, a few 
  tentative, but it's looking good. Membership drive will be at set
  times during the year; this year from Labor Day to Halloween.  Looking for
  each board member to sign up 20 new members.

9. Adjourned

Motioned by Matt, seconded by Michael. Adjourned at 7:50.