Board Minutes April 5, 2011
Present were board members Mike Atherton, Valerie Baldwin, Steve Barash, Sue Barkley, Keith Burnett, David Crosley, Sue Griswold, Lu Isaacs, John Mattis, Bev Nuding, and Allen Wolman. Also present were Alan Cummings, Roy Robinson, Betsy Steele and Eleanor Tanck
Mike thanked Keith Burnett and Allen Wollman for work on the lease. He received the final proposed lease on Sunday, April 2. He spoke to Joe Bettencourt who had not talked to the IFES board. He asked again for a signed lease so we can proceed with the city for permits. The sign next door has been taken down.
Alan Templeton prepared a breakdown of proposed costs. Comparing the Dymond property and the IFES property, Mike made the following comments:
1) in 3 years and 5 months we will have lost our investment in tenant improvements.
2) With the IFES property we have a proposed lease for 10 years with a 10 year option to renew with no cost of living adjustment. We would need to install carpeting and improve lighting. Tenant improvements could be $20 – $30 per square foot compared to next door.
3) Bob Lawrence accompanied Mike to City Hall. The new City policy is to phase out all non industrial uses on the present location The City may limit the time of the lease.
4) The City of Mountain View informed IFES of things that need to be done. There is no need for a construction permit at IFES. The City made it clear that the IFES location is good for us. They will have occasional use of the building but we look good as a steady cash flow.
Betsy questioned IFES being $6k per month vs $5k at Dymond. Mike answered that we proposed $5k and they countered $6k plus the 10-year lease with 10-year option. It is very likely the insurance would be the same as Dymond. IFES is bigger than what we have now. Alan C has observed Monday and Thursday evening bingo with no more than 100 players and no more than 50 cars. Most of their rentals are on the weekends. There is a published CPI for the Bay Area. It typically runs 3% per year. We have not proposed a CPI for the first 10 years.
Duane Coleman went along to the first meeting at the facility. IFES asked him if he would help with improvements. He will try to get the bids done quickly.
Mike made a motion that the board authorize Sue to form a committee to work out details on the attachment to the lease. Valerie moved that the committee should be authorized to make negotiations so that we won’t need another special meeting. The motion was unanimously approved
The minutes of the March special meeting were approved.
Kibitzer Eleanor reported that a 6 page Kibitzer is planned. Pictures will be selected from the Mentor/Mentee event. A list of clubs in our unit was sent to owners. No issues are expected. The monthly in and out report was received as was the report on new member data. The number shows the Bridge Center table count is down 22% from last year.
Treasurer Bev reported that the table count printout was sent out to the board. It did not include December. The totals for each year are not included. The 990 report (tax exempt status) is due on May 15. Sue will do the report for 2011. All accounts are reconciled. John Mattis noted that the balance sheets for the Center and Unit are not included in the emailed report. The dealing machine should be a Unit expense. Sue asked John M. to email information to Bev as to what he would want shown on the report.
We will be co-mingling Unit and Bridge Center funds in the bank acount but show separate line items on the report. Betsy offered to put the report on Excel. John M. objected to the meshing of Quickbooks and Excel.
Bev said that her accountant could put together the tax forms for $250. John M. said that the Directors are filing their own income tax.
The balance to date: Unit $6606.52 Bridge Center $53,095.08 CD $31,251.19 Savings bank account $27,463.26 Total $118,416.05 Education fund $2887.20
John Mattis needs building improvement information to communicate to directors. Sue suggested we defer funding campaign until we know about our move.
John talked to to Will Watson and he thinks the old dealing machine works well enough as a backup and does not need refurbishment at this time.
Keith said we don’t have enough teams for the 199 Swiss Teams based on recent games. The board agreed to cancel the 199er game for the May Sunday Swiss Teams game.
Library Valerie asked for a budget for library purchases. Alan Cummings said the Library could have $500 from the Education fund. The Kibitzer can list the new books that are added each month. Our website now lists new books and the list is also on the bookshelf. Only 2 of each title are kept – the others go to the back table for members to take. Eleanor will note in the Kibitzer that books are walking away.
Sue announced that Alan C. will do no more lecture series after this spring. Eleanor will put a request in the Kibitzer for anyone interested in giving a lecture series.
Sue proposed we reimburse John Prior around 75% of game income for the 7 Saturdays he cannot have a game at IFES. The board agreed that he should be compensated.
The meeting was adjourned at 5:40.
Respectfully submitted,
Sue Barkley, Secretary