Chicago Market Board Meeting – 6/28/17

Minutes: Heather Lalley

Guests:

Edward
Maia
Lee Herman
Dana McKinney
Katie Lopez
Matt Ryan

• Grant is going to be out of town a lot in the coming month.  Because of call for board candidates, we want to monitor the board@email while Grant is away.  Emily is proposed candidate.
  • During that time frame, we need to produce annual report.  Grant will have a draft going within the next few days.
  • Anthony proposed including the mayoral packet as an addendum.
  • Going to table talking about the presentation for the annual meeting and handle on Basecamp.
  • Grant asked people to push harder on Board candidate outreach.
    • Anthony pointed out that we need an email.  Anthony will draft by Friday
    • Grant encouraged people to reach out to orgs!
    • Monthly Finance Report:
      • Balance is staying solid.
      • Good month for income.
      • Grant asked if Jeremy at Meadowhaven got a reissued check.
      • Grant asked if we should keep finance check-in monthly, and board agreed to keep it monthly.
      • Cost Controls
        • Bill wants to formalize cost controls more than they are now.
        • Wrote up a simple set of starting points and read to the board.
          • Grant clarified that “go through the treasurer” is about notification, not pre-approval. 
          • Bill suggested a system where an under $200 expense is automatic, but notification is important. From $200-1000, he requests that we get estimates to confirm we are getting a good price. From $1000 and up, treasurer and at least 2 members of LT.
          • Lee H raised a question of a board subcommittee on finance. Anthony agreed that it was likely necessary, but suggested we discuss it the section of the agenda on things necessary if we get the RFP.
          • Bill suggested we try to recruit a CPA as a board member.
          • Grant asked for a document which laid out who had access to finances and how – checks, debit cards, etc.
          • Grant – concerned that when people are posting documents to BC, they aren’t giving enough context. Please identify documents with a description in the thread below.
          • Jen – Owner Rights Language.
            • Grant described the process with FCI that prompted this.
            • Jen read the owner rights document to the group.
            • Karen pointed out a couple possible other areas of inclusion.
              • Privacy – what we do with their data, contact info, communications.
                • Lee pointed out that we’re working on a privacy policy, and so we can just link to that.
        • What if an Owner wants to propose a referendum?
        • Transfer and refund of shares.
• Lee brought up the question of creating a policy manual, to connect the bylaws and the owner rights.
• Jen is going to take these suggestions and incorporate them.
• Greg suggested we make explicit what Owners are entitled to do at a meeting, and that they can attend a meeting.
• Discussion of whether responsibilities and liabilities should be included – yes.
• Scenario Planning for Yes!
  • Site Team has a list already
    • For negotiation: Attorney  (already done!)
    • Post lease signing:  Project Manager; Decide about the DC.
      • Is the project manager an interim GM?
      • GM
      • Identify General Contractor
      • Firm up design
      • Have a Charette.
• MORE
  • Community Outreach
  • Owner Recruitment
  • OLC marketing materials
  • Web 2.0
• Funding
  • OLC
  • Banks
  • TIF
• Strategic Partnerships
• Short Term Budget For initial expenses
• What can go?
  • Pop-Up?
  • Some MORE tasks can be outsourced
  • Site team will get the permitting timeline.
  • TAKEAWAY:  TEAMS NEED TO FIGURE OUT HOW THESE THINGS WILL GET DONE AND WHAT THEY WILL COST.
    • LT will take that information, consolidate and comment back.