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Riverton Community Housing |
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Riverton Community Housing |
Board of Directors Meeting Minutes
July 6, 1999
Present: Chris Goodwin, Val Aas, Mike Mazzarella, Gary Ellis, Peter Easterlund
Meeting called to order at 5:40 PM.
It was noted that in the minutes for the June meeting, Val and Mike were left off, while Mahmoud was listed twice. Mike also noted that he doesn't like COOP in the minutes.
In the cooperative reports, Chateau reports that they have approved a FY2000 budget with a 3% rent increase. Marcy Park has approved a budget with a 2% increase and has a new president.
Board calendar:
Mike didn't like Riverton's claim of 28 years in January 2000. Gary noted that technically Riverton is the original organization.
Chris reported that September 16 is the date for the 1999 annual meeting. February 5 is the date for the retreat. The issue of location and agenda were tabled.
Printed piece update:
Val presented new handbooks. Everyone needs to submit bios and feedback on the handbooks. These should be emailed by July 26.
Val presented text for a new printed piece. Mini-bios are needed. Gary noted that most non-profits don't have pictures of their board, while most for-profits do.
Picture taking will be set up at the Rosedale Pro-Ex.
Acquisition Discussion:
Harold Teasdale discussed the current housing market and the possible acquisition options with the board. He explained that it a "seller's market", interest rates have been steady, and new tax laws work to our advantage.
Kagawa Fund:
Gary explained that similar organizations provide a $20-25,000 investment. The fund has had a 3-4% return this year. We have some investments that could be rolled over into the fund.
The board decided to wait on the fund issue until a decision is made on a new acquisition.
The board decided to make an offer on the Rose Hill property.
Board Selection Criteria:
Mahmoud withdrew his request due to a new job. We received two referrals from MAP. One has moved. We have talked with the other candidate. A discussion on changing the criteria was post-poned until Martha could be available.
Agenda for August meeting:
Board selection criteria
Review Gantt chart
Gary's review
Meeting adjourned at 7:25 PM.
Minutes prepared by Peter Easterlund.