FII BOARD MINUTES
SEPTEMBER 20, 2002
I. CALL TO ORDER:
President Thomas called the meeting to order at 8:05 P. M.
The following were present: Diane Babineau, Nancy Fournier, Dick Giggey, Carl Hommel, Dick Norris, Fritz Mueller, Jeanne Sullivan-Toomey, Mark Thomas, General Manager Wayne Fournier, and Interim General Manager Joseph Potts. Dave Decker was excused. Robert Roberts, Jim Kuiken, John Crosby, Grace Morin, Don Nolen, Kathy Potts, Buddy Rogers, Bob Russo, Jean Russo, Dick Tracey, Ernie Wrzesinsky, and Lorraine Wrzesinsky were visitors.
III. APPROVAL OF MINUTES
The minutes of the FII Board Meeting of August 23 meeting as revised were approved unanimously.
IV. FRYE’S LEAP LEASE
President Thomas introduced Buddy Rogers, Bob Russo, and Jean Russo, potential purchasers of the Café. Terms of the lease were discussed. It was agreed that the new owners would investigate obtaining higher liquor insurance coverage, and the rent would remain the same for the first five-year period. They will provide the ferry captain with a list of their employees.
V. REAL ESTATE
A) Real Estate Policy
Dick Norris MOVED and Nancy Fournier SECONDED that the Real Estate Policy as presented be approved, and submitted to the Stockholders at the October meeting. Motion PASSED unanimously.
B) First Refusal Letters
Carl Hommel was requested to E-Mail a draft of the First Refusal letters to the Board Members for action at the next meeting.
VI. TOWN/FII LEASE
President Thomas presented a new draft of the Town/FII lease. It included the Golf Course and the Marina as items to be leased to the Town. After discussion, Nancy Fournier MOVED and Dick Norris SECONDED that the Golf Course and the Marina be included in the lease. Motion PASSED by a vote of 6-0-2.
A) The financial report was presented.
B) A list of items to reduce the 2002 income tax were reviewed
C) Discussion on the proposed 2003 budget was tabled until the meeting of September 27th.
VIII. MARINA REPORT
Jeanne Sullivan-Toomey reported that the causeway was trimmed, a turnaround cleared, riprap added to the sides, and the channel dredging was completed.
IX GOLF REPORT
Mark Thomas reported that Greg Tedford was elected chairman of the Golf Committee, and that he was appointed to liaison with the FII Board. The report from Mainland on the driving range was expected shortly.
X NEXT MEETING
A special meeting was scheduled for September 27th, at 8:00 P. M. at the Community Center.
It was MOVED and SECONDED that the meeting be adjourned. PASSED unanimously. The meeting was adjourned at 10:30 P. M.