Board Meeting Minutes for 4/27/16


Chicago Market Board meetings, held monthly, are now open to Owners. Please RSVP here if you'd like to attend May's meeting. 

Chicago Market Board Meeting Minutes for 4/27/16
7 p.m. at Beermiscuous
Board members present: Kelly, Esther, Malcolm, Grant, Tony, Dan, Heather, Emily, Mark, Linn, Jen, Mike, Anthony
Board members absent: Karen, Lance
Guests: Greg
Owners present: Emily Cole, Nathan Pfeifer, Paige Dolan, Matthew Frigo, Sarah Frigo, Julie Solomon, Bill Pett

Board Meeting Minutes for 4/27/16

Grant congratulated the site team on its well-organized presentation for the night's meeting. He also congratulated Linn and her team for their hard work on May's two upcoming pop-up markets.

Linn added that we need Board members to volunteer at the pop-up events.

Mark said that someone from Natural Food Merchandiser magazine might attend the pop-up.

Esther gave the finance report. She said there's nothing new to report this month -- that Owner payments continue to come in and the pro forma review continues. 

Greg gave a Funding update. All Board members have pledged loans as part of the Owner Loan Campaign, with the current total at $52,000. Research continues to determine the escrow point. He's also working to research and contact other people who might be interested in being early participants in the Owner Loan Campaign. 

Greg also discussed an upcoming USDA grant to promote local food. Grants are available in $100,000 and $400,000 amounts. The deadline is May 12 and Greg will begin a discussion of the application process on Basecamp. If selected, we'd be notified over the summer and funds would be delivered by Sept. 30. The application would need to be completed by May 6 and approved by the Board by May 8. Mike moved to approve the plan to move forward with the grant application. Grant seconded the motion and it was approved.

Mike discussed a plan for Board governance as we move from a working Board to a governance one. He told us about a model called Policy Governance that would regulate how the Board interacts with the General Manager. If we choose to adopt this model, it must be in place before we select a GM. The model sets forth "ends" and "means" and communicates the Board's expectations of what the GM can and cannot do. This model is recommended by co-op expert Jacqueline Hannah. Mike said he is not yet sold on this model. He will lead a discussion on Policy Governance via Basecamp for us to vote on at our next regular Board meeting. All Board members are to read the Policy Governance document Mike posted on Basecamp.

Mike provided an overview of the site-selection process for our Owner guests, discussing how to we found prospective sites, meeting with aldermen and research done on sales estimates. 

Owner guests left the meeting and the Board entered into Executive Session. 
The Board adjourned following Executive Session. 

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