Chicago Market Board Meeting Minutes - January 24, 2018

Lakeview Pantry
Present: Lee Herman, Grant Kessler, Edward Collins-Fanner, Jen Vest, Kelly Hewitt, 
Linn Austin, Sara Dinges, Dana McKinney, Sofia Jouravel, Dan Miller, Sunny Nguyen, Greg Berlowitz, 
Guests: Molly Milne, Melissa Bartel, Howie Bollinger, Joe McLennan (consultant)
Minutes: Emily Crespo

Owner updates:
We're at 1010! Kudos to Hillary and MORE team for really leaning in this week.

Previous item status updates:
Board: policy governance is on to next steps - Sara and Ankit, aiming for separate conference call to get in to the weeds and present at next Feb 2/28 Board meeting
Board: aggregated timeline in its second draft, ready for discussion tonight
Board: had phone call recently with CDS
Board: Election process document. Ready for voting today.
Funding - were going to follow up with potential banks
Funding: Benefit Chicago application about 3/4 done. Should be done by next interim Board meeting 2/7
Funding: Howard Bowers Fund available for Board training?
Finance: Edward to present
PM: looking to get info pending conversation with CDS and present at 2/7 Board meeting

Hillary and MORE team for rapid Owner growth
Dan and team for Owners Rep work

Reconnecting with our history:
Grant lead us through a series of photos to remind us of the work and people that have gotten us to where we are today.

Edward went through the short term cash flow document that just covers the next 16 weeks. Short term budget needs more development. We need to tie this document together with budget, long term cash flow projections, pro forma, and cash on hand for opening day.
Profit and Loss document: big changes as a result of insurance payments, Kinship, and the new market study. As time goes on we will move to accrual accounting.
Balance sheet: no big movement other than expenses as above.
Statement of cash flows: redundant now, but will become more important when we move from cash basis to accrual accounting.
Lots of smaller co-ops have the GM do all the financing, but some lenders would require us to have a separate person to oversee finances. PM/GM team is looking into more examples of staff structure and hierarchy.
To table for later: does the Board have a direct line of communication to the CFO? Is the CFO hired and managed by the GM or does the Board have a role?

UCUR conference:
Scholarships are available. Due Feb 5. Conference is March 16-17.
Dana: is it a good place to network for GM candidates? There is a panel of GMs. Probably won't be people going there to look for jobs but a good place to learn about searching for and hiring GMs. CCMA is great for networking. 
Lee and Jen are going and their costs are covered. Sunny, Dana, and Sofia would like to go. Grant will decide whether to go last minute. If we don't get the scholarship, it's $225/$275 without hotel. Last year folks covered their own meals and carpooled up there. CM paid for hotel rooms for one night.
Dan moved to have CM pay for the registration and hotel costs for 3 attendees and Jen seconded. All present Board members (13) voted yes and the motion passed. 
Sunny will submit the scholarship application for our attendees. Jen will send her the submission from last year.

Election document:
Grant presented the document. Lee moved to accept the document. Dana seconded the motion. All 13 Board members present voted yes and the motion passed.

MORE and Owner growth:
Fresh thinking brainstorming session scheduled for this Saturday from 10am-12:30 at Bezazian Library
We've made great strides recently in getting to 1,000+ Owners. We've done a lot of work for a number of years, and have tried lots and lots of things. 
The point of the meeting Saturday is to come up with ideas for anything we haven't tried so far. We're also going to be doing scenario planning for "yes we get the Gerber building" or "no we don't get the Gerber building". 
1,000 Owner party, also this Saturday at O'Shaunessey's, should be really well attended (almost 50 RSVPs so far)
MORE team is actively seeking new volunteers. The sheer volume of day-to-day work has resulted in burnout
Jen feels excited and energized by the organic spikes in interest any time there are mentions about CM in the community, especially regarding site.
Dana: Hillary, Daniel, and others have put a ton of work in to this, and it's exciting to see the new tactics are being explored. Not just rehashing old ideas.

Went around the room and the CM team and guests introduced themselves.

End of public session

Executive session


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