FII BOARD MEETING

December 7, 2002

Marlboro, Massachusetts

 

1.  CALL TO ORDER:

     President Mark Thomas called the meeting to order at 10:15 am.

 

2.  ATTENDANCE:

     The following members were present:  Mark Thomas, Nancy Fournier, Jeanne Sullivan-Toomey, Dave Decker, Dick Norris, and Town Manager Wayne Fournier.  Those present by phone hook-up were:  Diane Babineau, Carl Hommel, Dick Giggey and Fritz Mueller with Jim Fredericks on as a guest.  Guests attending the meeting were:  Pat Karpacz, Jimmy Kuiken, Tim Toomey, Bob Russo.

 

3. APPROVAL OF MINUTES FOR OCT. 18TH MEETING:

    Minutes approved unanimously after minor spelling changes and change to correct date meeting was held.

 

4.  MARINA REPORT (#6 on agenda):

     Jim Fredericks and Mark Thomas walked us through the revised Marina Policy.  Jim will make changes and E-Mail everyone.  Fritz made motion to accept the new policy as amended in the meeting with the condition that sections 18 and 19 be rewritten and final document be presented by E-Mail to members for final approval. Jean Sullivan-Toomey Seconded motion.  Unanimous. 

 

Jean Sullivan-Toomey and Jim Fredericks will write a letter to all Quail Circle slip holders explaining that in the new policy there will be one slip per homeowner.  Anyone can appeal to the Committee and the Committee will consider each appeal on a case by case basis.  Wayne Fournier will review the letter and the Town will send them out.

 

5.  ADMINISTRATION BUILDING:

     Tim Toomey voiced his concern that the survey conducted on the Administration building property may not be accurate and he volunteered to look into it further.  He found another point drill and would like to meet with the survey company to see how they determined where lines are.  Wayne Fournier has spoken to survey company several times to request further investigation into this and to meet with the person who did the survey.  Jimmy Kuiken felt we had a valid concern as he says that the building always was within the property line.  Tim will look into this further and when Wayne gets any additional information he will pass it along.

 

6.  FINANCIALS:

    (A) Review of current financials:  Committee went over the balance sheet.  There were several items in discrepancy and Wayne will ask Laurie (Bookkeeper) to look into these. 

    (B,C,D,E)  Allocation of Money to limit taxes in 2002: It was determined that FII was short the cash needed to cover the proposed reimbursements to Town and still pay FII taxes.  It was decided that FII would reimburse up to a total of $81,554.43, which includes Ĺ of the 2003 taxes. We will not pay off the Maintenance Building until 2003 to keep the total reimbursement close to the above figure.  Mark Thomas wants to have Laurie check expenses that FII paid to Town for 2001 ($45,189.20) and wants the Town to acknowledge this capital improvement amount to close out this matter.

    (F) Line of Credit: Wayne and Mark are working on establishing a $50,000 - $100,000 line of credit for FII.  Norway Savings Bank as well as Key Bank have indicated that they can do this.  Wayne will look into this further and report back.

 

7. GOLF REPORT:  No report at this time. Golf Committee is meeting in early winter and will get back to us with any changes in policy,  and recommendations for the transition documents for the BIT Executive Committee. It was also noted that the Golf Pro's contract was not renewed and that it is planned to rehire Laura Crosby to run the pro shop and lounge. Finally, the engineers report on the driving range has still not been received.

 

8. MARINA:  Town Manager got 3 bids for the new docks at the Marina.  The lowest bidder was Sebago Docks at $22,091.62 for 24 dock systems.  This does not include installation, or a second ramp. Committee asked Wayne to have Sebago Docks put in writing everything that was included in the bid.  Nancy Fournier made a motion that we approve the purchase of 20 slips at this time.  Jean Sullivan-Toomey Seconded.  Passed unanimously.

 

It was also decided that Sebago Docks should  install the new docks and new ramp. The  Committee asked that Jean Sullivan-Toomey oversee writing a letter to the first 9 people on the waiting list telling them they can have a yearly renewable slip in 2003 for $850 a season.  In subsequent discussions, Jeanne Sullivan-Toomey indicated that these slips were $100 more than the renewable slips ($850 vs $750) because the Committee wanted to encourage people not to rent the General Use slips for the season.  As we are requiring that for at least this year the general use slips must be rented for the season, should we reduce the rate to $750 Ė same as the renewable slips?  If this makes sense to the Board we can vote via e-mail which will allow the letters to be sent out with the $750 rate)

 

Dave Decker made a motion that the last 11 new slips will be General Use slips, but can be rented out for the whole season to the next 11 people on the waiting list, but by one season at a time only.  If any docks are left over, they can go into general use and be rented by Islanders for short periods of time.  Nancy Fournier seconded this motion.  Unanimous. 

 

Jean Sullivan-Toomey was asked to draft a second letter to the next 11 people on the waiting list informing them that a seasonal slip would be available, however, yearly renewal was not guaranteed. These new policy changes will be posted on the Internet. 

 

It was also decided that Equity Rights holders who wish to rent out their docks will have to do so themselves from now on and it will be their responsibility to see that the renter has insurance, gets a sticker from office, and only rents to Owners or renters as indicated in the Policy..

 

9.  REAL ESTATE TRANSACTIONS:  It was discussed that a Steering Committee will be formed next spring that will oversee long range plans for the remaining real estate on the Island.  This Committee will report to the FII Board.  Anyone interested in serving on this Committee can contact the Town Office.  This will be posted in the winter FINS.

 

We have 2 bids in with deposits that will be further discussed in the spring.  No more bids will be accepted until the Island opens again.  The bids will be considered in the order in which they were received.

 

Mark Thomas proposed that if someone owned a lot and wanted to buy an adjacent lot owned by FII for the purpose of putting his home in the middle of the two lots, that after the bidding process, if he buys that lot, the two lots should then be merged into one lot.  The question arose as to whether or not that merged lot would then get one vote or two. It was decided that an FII stockholder received one share which allowed one vote for each lot they purchased even if they were later merged into fewer lots. This will be proposed as an amendment to the Real Estate Policy.

 

Item C under Real Estate was tabled until Dave Treacy can be present at the meeting. 

Carl Hommel brought up the fact that there are at least 2 homes being built on land that is bisected by a walking path appearing to be owned by FII.  He is investigating the matter further and will report back at our next meeting.

 

Letters of First Refusal. Carl Hommel reported the First Refusal letters had been mailed and that responses could be expected.

 

10. GARCEAUíS LOT:  After much discussion this matter was tabled until the next meeting.  Jim Kuiken is going to talk with the Garceauís and get some more information as there were several questions as to how to go about getting this lot to a build able status.

 

11. DISCUSSION OF POSSIBLE TRANSER OF ASSETS:  The Board asked Wayne to talk to our Attorney and have him draft the appropriate documentation to transfer the Ferry System to the Town. The document has to insure that everyone would be treated the same (home owner, property owner). In addition, some other questions asked:  Would there be a difference in insurance?  Would we be eligible for State funding?  Liability? 

 

12. ACCESS TO TOWN MANAGER:  It was decided that only the President of FII would talk to the Manager about FII business.  Also, chairman of the Marina Committee and Golf Committee could request a meeting.  The object was to minimize the number of different people coming to him with different requests, etc.  Fritz volunteered to help Wayne organize the files when the Island opens again.  Mark will distribute what he feels FII needs to have on hard copy for files.

 

13.  MEETING SCHEDULE:

 

            Winter Meeting (same time and place)            Saturday, March 8th.

            Spring Meeting, Town office:                         Friday, May 16th, 8:00 pm

            Summer Meeting, Town office:                       Friday, June 13th, 8:00 pm

 

MEETING ADJOURNED AT 4:45 PM.