Frye Island Incorporated – Board of Directors Meeting

August 6, 2004

Community Center, Frye Island

Call to order:

            President Potts called the meeting to order at 7:05 P.M.

 

Attendance:

In attendance were J. Potts, D. Babineau, J. Atkinson, J. Roberts, C. Hommel, D. Giggey, P.Perry, and General Manager W. Fournier.  Others present were:  E. Wrzesinsky (Lot 285), E. Charrette (Lot 79), B. Roberts (Lot 111),  G. Morin & T. Cappy (Lot 287) and B. Nisula (Lot 16).

 

Approval of Minutes:

            The minutes of the Board meeting of July16, 2004 , were approved as revised.

The minutes of the Frye Island Stockholders meeting of October 12, 2002 were also approved to complete records.

 

Communications and Petitions from the Public:

It was noted that there were numerous examples of folks living in “temporary quarters” on the Island who may or may not have their home under construction.  The Town Manager will write letters to those in violation of the covenants to rectify their specific situation, especially where there might be obstructions and parking on the roads that could interfere with fire truck and other safety passage. 

 

Reports:

Review of current FII financials as of July 31, 2004 in preparation for making decisions on FII 2005 Budget.

It was noted that FII needs to have standard warranties associated with the Deed  from Odwyer on Lot 1805 when it is transferred to FII in the property swap of 1769/1770.

It is anticipated that by the next meeting that there will be finalization of the Approved 2004 FII Asset transfer to the Town.

Discussion:

Prior to drafting a plan for any further transfer of FII Assets in 2005 to the Town, the Board wants to have competent legal persons to come and to address any questions that have come up or may rise concerning the tax impact (if any) to both FII and the Town.  A meeting with them is to be arranged as soon as possible.

The Board has decided to take no action on the impact of a proposed DEP Sebago Lake Level Recommendation.

D. Babineau MOVED and J. Roberts SECONDED that the Maintenance Building Loan of approximately $14,400 be paid off at the next payment due date.  This will complete an unencumbered transfer of all of the assets in the Golf Course transfer package approved at the July 3, 2004 Stockholders Meeting.  MOTION passed unanimously.

The Board generally agreed to the goal of no winter meetings if at all possible.

J. Roberts MOVED and D. Babineau SECONDED that no action will be taken by the Board on the Speed request concerning Lot 1159 access.  MOTION passed unanimously.

Old Business:

With reference to the obstructions on the FII pathway between lots 1737 and 1738, J. Potts MOVED  and D. Babineau SECONDED that the Town Manager will write a letter to the Real Estate Agent representing the sale of Lyon’s lot 1738 that the potential buyers must be made aware that this right-of-way may in the future have to be returned to its original condition and that they, the buyers, may be required to perform this task of removing rubble and the satellite dish stand, etc.  MOTION passed unanimously.

MOTION by J. Potts, SECONDED by D. Babineau that J. Potts will work with E. Charrette to develop a prioritized listing, in doable segments, for the transfer of unbuildable lots into permanent green space for the Town.  This listing will include specifics on these lots and will state potential covenants to be included in the transfer to insure that they cannot be sold or built upon in the future. MOTION passed unanimously.

New Business:

MOTION by D. Babineau, SECONDED by D. Giggey, to accept the proposed FII 2005 budget which includes the new lease amount of $31,000 to the Town.  This reduction in the lease is a reflection of the previous 2004 transfer of property to the Town.  MOTION passed unanimously

MOTION by J. Atkinson, SECONDED by J. Potts to transfer the long standing FII Marina Reserve based upon a split between the Equity and Rental components.  Thus 65/116 (approximately 56%) will be transferred into the Town Marina Equity Reserve and the balance (approximately 44%) will be retained by FII and used to retire current obligations.  MOTION passed unanimously.
 

MOTION by J. Roberts, SECONDED by J. Atkinson to set the Town Management Services Fee for FII to the more realistic amount of $5,000 vs. the current $2,000 in the FII budget.  MOTION passed unanimously.

The Board took no action on the Charrette request for a restriction change on a privacy lot to increase the allowable footprint beyond 120 sq. ft.. for an out-building.

MOTION by C. Hommel, SECONDED by J. Roberts for FII to accept the title to the Emerald Point roads concurrently with giving the Town an easement to those roads and is contingent upon the Town accepting said easement.  MOTION passed unanimously.

Next Board Meeting Dates and Stockholders Meeting:

The FII Board will meet at the Community Center at 7 P.M. Thursday August 26, 2004 and at 8 P.M. Friday September 17, 2004.

The FII Stockholders Meeting will be at the Community Center at 9 A.M. Saturday Morning, October 9, 2004.

The FII Board went into Executive Session at 10:30 P.M. and recessed at 10:50 P.M.

MOTION by J. Roberts, SECONDED by D. Giggey to appoint C. Hommel to the position of Clerk of Frye Island, Inc.  MOTION passed unanimously.

MOTION to adjourn at 10:55 P.M. by J. Roberts, SECONDED by J. Atkinson, MOTION passed unanimously.


Respectfully Submitted,
Phil Perry