December 13, 2005 Unapproved Minutes

Present: Steve, Jonathan, Michael, Brian, Seth, Clay, Manny, Peter, Matt

Guests: Matt Obert, Phil, Erin, Susana

Staff: Lucie, Shawn, Bert

0) Call to order, 6:12

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

2) Financial Update (Shawn) * $18k short on out YTD vs. Budget (This comes primary from being closed for a while) * $16k decreased expenses * Holding our own on the program side

3) Directors' Report

• Third floor has asked that they send two delegates to the board. These delegates will go through the same process that other prospective board members do.

• Introduced to Susana, our new bar manager.

• Broad Street update

  • Maria is the new Managing Director (recognizing Bert's increased involvement/authority.

  • Broad Street has a new advisory board. Focus is on growing and sustaining the program.

  • Friday, 10am, presentation at AS220 on the proposed Brown/Broad Street Business model (Reception among local NGO and socially conscious organizations has been extremely positive)

  • Handed out a copy of RI Policy Reporter (now published by the AS220 Stink Tank Press)

4) Chair's Report A committee met with Perishable to discuss back rent and capital campaign issues, and Perishable has committed to a plan to get current and have agreed to reallocation of some capital campaign funds (current and future) to AS220 so that funds can focus on the buildout that is in progress (Perishable has used about $50k on some improvements, and they will have capital campaign funds that can be directed to other ongoing improvements).

5) Capital Campaign Update

• Had a tour of the first floor before the meeting. It is coming along nicely.

• Working hard to open New Year's Eve (at least the bar, if not the restaurant).

• Planning on a celebratory opening on January 20 for AS220 folks, and the contractors.

• Ribbon cutting will be later.

• Many board members are up to date with their committment.

• Steve expressed his belief that the work Lucie and Shawn have done are going to be a massive improvement in terms of safety as well as the economic future of AS220.

• Lucie recognized BankRI and Sovereign for their support.

6) Dreyfus Update

• Final 2 pieces of financing are in (Federal Home Loan Bank, sponsored by BankRI) and Housing Resources Commission/Building Better Communities.

• Drawings are almost ready for release

• Going out to bid on Monday, 12/19

• Finalizing our lease with our restaurant tenant.

7) Other business

• 3rd Floor tenants feel concerns have been addressed, but are worried about ongoing water damage and heating, have lost some kitchen cabinets.
• Feel we've made a lot of progress on communication issues.

8) Adjourned at 7:27pm MOTIONED: Michael SECONDED: Seth SO MOVED