MINUTES OF THE BOARD OF TRUSTEES SPECIAL MEETING held October 11, 2009, at the Timberland Library, Belfair. The meeting was opened at 9:05 AM by President Gary Longmire and attended by Mike Croke, Linda Pryor, Daryl Axelson, Roger Hansen, and Dan Poole (Rocky Brown absent) and guest members Wes Stock, Jackie Longmire, and Morina Dustan.
BRIDGE PRESENTATION SUMMARY
The Trustees reviewed the presentation summary for the bridge replacement project as prepared by Bridge Commissioner, Roger Hansen. The presentation is intended for a Special Member Meeting.
The summary included three items for consideration: To replace the existing bridge with a new structure, increase the annual Dues by $233.00 each year with the proceeds to be designated exclusively for a bridge replacement reserve account, and to grant authority to the Board to utilize the Asset Replacement Fund for front-end expenses for a new bridge. The drafted summary included a schedule with which to approach the bridge replacement as a three phase project over a period of three years. The proposed time frame is intended to eliminate the need to spend additional funds on temporary repairs.
The Trustees agreed that continuing to repair the bridge would be cost prohibitive and agreed replacing the structure would be the most cost effective solution to maintain bridge access to and from the island.
The recommendation to increase the annual dues by the sum of $233.00 each year was discussed. The increased income would be used with additional money from the Asset Replacement Fund to commence with Phase I of the replacement project, estimated to cost from $180,000.00 to $225,000.00.
There was discussion regarding the need to maintain a balance in the Asset Replacement Fund, noting that the fund was intended for the maintenance and/or replacement of all the Club’s major assets, most notably the bridge and water system. Depleting the Fund for bridge expenses would leave the Club in a precarious position with regard to the water system and emergency expenses. A suggestion for an $800.00 per lot increase to fully fund Phase I was not received with favor. The Trustees agreed to propose a Dues increase of $245.00 per lot as a minimum to move forward with Phase I of the bridge replacement project during the next six months. It was agreed that the increase should be designated for the Asset Replacement Fund as opposed to designating the money for a separate Bridge Fund at this time. The increase will be re-evaluated following a review of the Asset Replacement Fund and projections for maintenance and replacement of all of the Club’s assets; separation of funds will be considered at that time.
The Trustees agreed to schedule the Special Member Meeting for November 14th. Suggestions for revisions to the draft were discussed and accepted in accordance with the consensus of the Trustees. Roger will incorporate revisions into the draft for a final review at a Special Board Meeting to be held on October 24th.
INITIATIVE TO AMEND BYLAWS
Gary Longmire reported information received via consultation with the Club’s attorney, Robert Houle. The member petition for an amendment to the Bylaws must be included on the agenda for a membership meeting exactly as it was written. However, he advised that there was conflicting language in the amendment with regard to how proxies would be used and recommended that the Board propose an alternative amendment to clarify their limited use. This alternative proposal would be presented for a vote in addition to voting on the amendment as proposed by the petition. Due to time constraints with regard to preparing an alternative proposal, it was suggested that voting on this issue should be included on the agenda for the next Annual Member Meeting as opposed to the next Special Member Meeting.
MOTION to postpone presentation of amendments to the bylaws until the next annual member meeting was made by Dan Poole, seconded by Mike Croke and carried. Daryl Axelson and Linda Pryor opposed.
MOTION to adjourn the meeting at 11:05 AM was made by Mike Croke, seconded by Dan Poole and carried.
Linda Pryor
Secretary