Chicago Market Board Meeting Minutes - September 26, 2018

Lakeview Pantry
Minutes: Sara Dinges
In attendance: Lee, Kristin, Sara, Greg, Dan, Pat, Dana, Ankit, Sofia
Guests: Rachel Ramirez, Jessica Droeger

Meeting begins at 7:45PM (OLC Training preceded the Board Meeting)

Progress Check-Ins: 
1. Site/CDS team -- work on clarifying Wynston role and timing. 
  • CDS team working with Jeannie to coordinate board development work with Leslie leading up to board retreat
  • Save the Date: Saturday 12/08, time TBD for the board retreat
2. Finance/cash flow
  • CF meeting needed 
  • Financial review: Lee notes net profit split with Wilson Underline from Up & Under Fest
3. Funding: 
  • TIF: get numbers from owner rep 9/26. Numbers lead to scheduling of first TIF meeting
  • bank loan discussed
  • Howard Bowers grant applied for to pay for CDS costs (board development)

4. GM/PM: nothing new to report 
5. Legal: nothing new to report 
6. MORE:
- 1379 owners!! 
- Thanks for Up & Under, which resulted in 32 new owners 
- Takeaway from UU and Taste of Uptown: need to have doors open more often at the store space.
7. Owner Loan Campaign: 
- 9/27 email going out announcing OLC launch on Monday 10/1. 
- Email includes starting number so please let Sofia/Ankit know where you stand as a board member 
8. Site:
- Continuing with design process. 
- Some stewardship issues. Proposal to remove graffiti as well as install protective window film. Proposal will go on BC and we need board vote in timely manner due to warm weather needed for film to cure. 
- Apply for grant through SSA for funding security/building improvements
9. Reminder of officer elections: 
- In November, we will re elect officers. Directors can self-nominate or nominate others. Lee officially announces opening of election process. 
- Officer positions up for election each year. 
10. Site Team Presentation on Surveys:
- Dan reports that we are in need of accurate base drawings. We will not get these from CTA. Owners rep has received two surveys from the CTA, neither of which were complete or accurate for our architects to use.
- Proposal started at $11,000 and was scaled back enough to get down to $5,200. Site Team familiar with Surveyor, who has promised timely delivery of survey. 
- Sara moves to accept survey proposal. Ankit seconds. Yes: 9. No: 0. Abstain: 0. 
Motion passes. 
- Ankit asks that as expenses for Site continue to occur, we need to track compared to budget. Dan concurs. 
- Lee asks about timeline from Owners Rep. Dan answers that OR is waiting on Survey. 
Dana raises that we need assistance/experience with finances, particularly an accounting or CPA background. 

Meeting adjourned at 8:45PM.

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