Frye Island Incorporated – Board of Directors Meeting Minutes

Wednesday, September 6, 2006

Community Center – 7:00 PM

 

1.     Call Meeting to Order & Take Attendance

a.      Meeting called to order at 7:00 PM by President Joe Potts.

b.     Board members present were:  Ed Charrette, Dave Gleeson, Bob Hannah, Phil Perry, and Joe Potts.  Also in attendance was Wayne Fournier, FII General Manager.

c.      The following FII stockholder was present:  Mr. Robert Sutherland

2.     Communication & Petitions from the Public

a.      None.

3.     Approval of Minutes:     8/11/06 Minutes of Board Meeting  *

            a.   The Board approved the Minutes of the August 11, 2006 meeting without change.

4.     Reports:

a.      Financial Report.  There was no report.

b.     Stockholder Meeting agenda items

                                          i.     2007 Budget.  This will be reported as approved at the August 11, 2006 Board meeting

                                        ii.     Report on By-Law Revisions by Board.  (Note:  If the Board approves a By-Law revision unanimously, then it does not require a Stockholders’ vote but the Stockholders must be informed of the change.) There are two changes to the By-Laws to be reported in October, one dealing with the schedule for Stockholder meetings and the second what constitutes a quorum for a Board meeting (see agenda item 7. below for the latter change.)

c.      Shoreline Erosion Lots 272 & 273     *  After some discussion it was concluded that no action was required by the Board at this time.

 

5.     Discussion Items:

a.      Environmental Quality of Road Fill  *   A letter from Mr. Timothy Toomey, Lot 1213, has been received.  In it he points out a health concern regarding the type of material being used as fill on the Island roads.  He has had two samples analyzed and the results show the presence of some very sensitive environmental compounds.  However, the MSD report recommends this material be recycled as road fill. (This material is composed of 3-5% ground asphalt mixed with gravel.)  As noted, it is approved by the state and by the PWD for recycling as road fill.  Wayne will prepare a response to Mr. Toomey.

6.     Old Business:

a.      Review Status of Counter Offer on FII Lot 1768.  Nothing received as of the time of the Board meeting.  Wayne was directed to send a letter to Mr. William Stevens.  The letter should give him the option of either purchasing the lot or moving the driveway by July 31, 2007.   

7.     New Business:

a.      FII By-Law Change – Quorum & Approval Required     *

The change to the By-Laws proposed by Joe Potts was modified to read as follows:

Section 2.  Powers and Duties of the Board.  The Board of directors shall exercise all the powers of the Corporation and shall have the entire control, supervision and management of the business of the Corporation, except for such powers and authority as are exclusively vested in the Stockholders by law, by the Articles or Incorporation or by these By-Laws. The Quorum for a legitimate Board meeting is 51% of the authorized number of Directors.  Any action approved at a legitimate Board meeting must be approved by a simple majority of authorized Directors.

 

            b.   Ed moved to accept this change, Dave seconded.  Approved unanimously.

c.   Allow approval of 9/6/06 minutes by email.  Dave moved to accept this     recommendation, Joe seconded.  Approved.

d. Mr. Sutherland raised a question regarding lots 1601 and 1602 for a beach.  The Beach committee, he reported, favors this unanimously.  Results of the survey were also cited. Revisions planned by the Comprehensive Plan Committee also take the question of more beaches into consideration as growth on the Island occurs.  It was pointed out that the beach on 1601/1602 was extremely small and further Joe pointed out that a better choice might be to expand Beach 12.

e.  Mr. Tony Clement wants to buy Lots 1388 and 1395 as privacy lots.  One of these has a right of way on it.  Mr. Clement would not build on them.  He bid $5000 for each one.  Phil asked if either lot were buildable.  This was not known.  The bids will be considered but the first reaction was that the bid was much too low.

8.     Next Meeting Dates:

a.      Board Meeting – No Board Meeting in October, 2006 

b.     Stockholders Meeting – 9:00 AM Sat Oct 7, 2006

c.      Board Meeting – 7:00 PM Wed Jun 13, 2007  

9.     Adjourn Meeting.  Meeting was adjourned at 8:05 PM.

Respectively submitted,

Robert W. Hannah