Frye Island Incorporated, Board of Directors Meeting
Sunday July 9, 2006, 7:00 PM, Community Center
1. Call Meeting to Order and Take Attendance.
a. Meeting called to order at 7:10 PM by Pres. Joe Potts.
b. Board members present were: Ed Charrette, Dave Gleeson, Bob Hannah, Phil Perry, Joe Potts. Also in attendance representing the Town, Wayne Fournier.
2. Approval of Minutes.
a. Approved minutes of 6/10 Board Meeting and 7/1 Stockholders Meeting unanimously.
3. Communications & Petitions from the Public.
a. Several members of the Stockholders were present and they asked questions concerning procedures. Phil raised the question concerning reporting the survey results to the stockholders via the website. After much discussion, Joe Potts was to draft a cover letter presenting a clarification of the issues covered in the survey. Voting on how to proceed was postponed, with a final vote expected at the next Board meeting.
4. Election of Officers. The following were elected:
President, Joe Potts
Treasurer, Phil Perry
Secretary, Bob Hannah
5. Reports. The Treasurer’s report was accepted.
6. Discussion Items.
a. 2007 FII Draft Budget. In 2005 there was a $65,000 maintenance expense to the Town. In year 2006 $25,000 went into a property repair. A vote on the 2007 budget is expected at the next meeting.
7. Old Business.
a. FII By-Law Revision. Approved unanimously the FII By-Law Revision with an effective date of Jan. 1, 2007. This requires notification to the Stockholders to complete the revision process.
b. Capital Improvement-Community Center. Flooring and lighting in the Community Center were discussed. Approved up to $1500 for lighting in the Recreation room. Questions regarding the flooring were raised and Bob and Phil were to look further into possibilities.
8. New Business:
a. Review Open Bids on FII Lots—Lot 1768. Authorized getting an appraisal of Lot 1768.
Establish Scheduled Board Meeting Dates. The following dates were
August 11, 2006, September 6, 2006, Stockholders October 7, 2006, June 13, 2007.
The August 11 meeting is on a Friday, while the September 6 and June 13 meetings are on Wednesdays.
9. Executive Session: There was appreciable discussion regarding Lot 1768 and how to proceed with release of the survey results to the Stockholders. Results of theses discussions are given in Items 3 and 8a above.
10 Adjourn Meeting: Meeting was adjourned at 9:10 PM.
Robert W. Hannah