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Riverton Community Housing |
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Riverton Community Housing |
Board of Directors Meeting
July 11, 2000
Call to
Order: Peter 5:45 p.m.
Budget
approved; June minutes will be reviewed at next meeting
The Board
voted to appoint Sara Cannon to the position of secretary
Co-op
Reports:
The Chateau
bids Farewell to Micheal Mountford. He will be missed.
Marcy Park
will be conducting Strategic Planning sessions on 7/23 and 8/6
Current
market values for all co-op unit types were reviewed by the Board
5:55: The
Board voted to name the new acquisition. After
some deliberation, a majority voted officiated the new name to be Franklin cooperative Housing
Cooperative. Welcome Franklin!
The Board
decided on the immediate cooperative population requirements for Franklin.
It was
decided that Franklin will be required, in its master lease with Riverton, to achieve an
80% cooperative population within the next three years.
The cooperative
status requirement will be 12 credits per semester as of August.
Non-cooperatives
will be allowed to renew their leases until a board is formed, at which point they will
need to decided how many more times non-cooperatives must renew their leases before qualifying
as cooperatives.
The 20%
non-cooperative units will be allocated at the discretion of the Franklin Board following its
formation.
These
criteria will stand as of August for application by the Office and as guidelines for the
new Board at Franklin.
6:30: Board
approved subordination agreement for all cooperatives’ financing
6:40: Board
approved amendments to Marcy Park Master Lease, section 4.1.1.1
6:50:
Strategic Plan was updated/reviewed
7:00: Martha
reported on Board recruitment and development efforts.
Dave Rugg
may return to the Riverton Board. He will
bring experience and historical perspective!
Training
options for new members were discussed as well.
Agenda items
for next meeting were discussed.
Meeting
adjourned at approximately 7:30 p.m.