FII BOARD MINUTES
SEPTEMBER 14, 2001
I. CALL TO ORDER
The meeting was called to order by President Thomas, at 9:15 P.M.
Present were Diane Babineau, Dave Decker, Steve Comley, Carl Hommel, Fritz Mueller, Mark Thomas, and Jean Toomey. Dick Giggey (excused), and Tim Tinsman (excused) were absent
III. REAL ESTATE AUCTION
President Thomas reported the Mr. Hirsch has withdrawn his bid for Lot 2026, and General Manager Roedner is proceeding with the sale of the lot to Mr. Sullivan.
IV. FINANCIAL REPORT YTD AND 2002 BUDGET
The financial report was not available. President Thomas requested the Board Members attend a special meeting at 1:30 PM September 15th.
Hommel MOVED and Decker SECONDED that the FII Board recommend to the Stockholders that FII turn over to the Town the water system, including the intake system, the pump house and pumping system, the pump house lot, the piping to the treatment plant, the water treatment system, the storage tank and the water distribution system., and that the transfer be implemented upon authorization of the transfer by the FII Stockholders and acceptance by the Town, at the October Town Meeting. Motion PASSED unanimously. This recommendation will be included in a proxy statement mailed to the Stockholders for their vote if they do not attend the Stockholders meeting in person.
VI. AUTHORIZATION OF PAST ACTIONS BY THE FII STOCKHOLDERS
Babineau MOVED and Decker SECONDED the Stockholders proxy also contain the following motion: Move that the corporation ratifies and affirms those acts taken on its behalf by the stockholders and directors through this date as if voted herein and now. Motion PASSED unanimously.
Babineau MOVED and Mueller SECONDED that a raffle be offered to the Stockholders in the proxy statement, such that if proxies or attendees achieve a quorum of Stockholders, three drawings will be made, with prizes of $100, $50 and $25.
VIII. USES OF FII RESERVE FUNDS
A list was made of potential uses of FII reserve funds (see attachment).
Hommel reported that the Town Planning Board had proposed that the Recreational area adjacent to Lot 501 be rezoned from a Water Orientated Commercial District to a Residential District, and wished to have the approval of the FII Board. Decker MOVED and Babineau SECONDED that the FII Board not recommend that the Planning Board that the land not be rezoned, and asked that Mr. Treacy explain his reasons for requesting the rezoning. Motion PASSED 6-0-1 (Hommel abstained).
It was MOVED and SECONDED that the meeting be adjourned. PASSED unanimously. The meeting was adjourned at 10:30 PM.
POTENTIAL EXPENSES FOR FII REAL ESTATE RESERVE FUND
Current repairs to ferry
Repairs to ferry recommended by Blount Marine
Engineer's report on Dry Dock
Dry Dock (2002)
Engineer's report on buildings
Repair of buildings (2002)
Handicap ramp to office
Electrical upgrade of pump house
Upgrades to Community Center (electrical, heating, AC)
Permanent winter office
Winter office rent
Golf Course Equipment
Grass mower with trailer
Pay for store ferry costs
Pay for a portion of office labor
Handicap access to pool
Driveway access to Community Center