MBIYC.com
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1/5/2008 The special membership meeting was held as scheduled on 1/5/2008. Quorum requirements were met as the Treasurer reported 316 paid members for 2008 with 54 members attending. The meeting was attended by about 100 people. The presentation by Commodore Wierzchowski lasted about 45 minutes and a Q&A session about the same. The MBIYC membership voted to permit the Officers and Board of Directors to enter into a long-term lease with the State and obtain necessary financing for docks and buildings. To fund these items, the membership approved an increase in dues to $200/year effective 1/1/2009. The initiation fee will also increase to $250 at the same time. We are very close to a final lease with the State at this time. The lease is to have a 25 year initial term and an option for 10 years.
The following
motion was called to vote and passed 49-5.
MBIYC SPECIAL MEETING – MOTION TO APPROVE LEASE, FINANCING, DUES & FEES To permit the Commodore and the Board of Directors of MBIYC to negotiate and execute a Lease with the State of Ohio for property located at the Middle Bass Island State Park Marina. Term of the Lease shall be not less than 25 years with an option for an additional 10 years. Lease rate shall be $10,000/yr for 2 years, $15,000 for 3 years then as negotiated. To permit the Board of Directors of MBIYC to negotiate and execute required financing for the purchase of docks and construction of buildings on the property leased from the State of Ohio at the Middle Bass Island State Park Marina. The total amount of debt incurred shall not exceed $1,000,000 for a term of no longer than 25 years.
To increase the MBIYC
membership dues for active members to $200 per year and the Club Initiation
Fee for new members to $250, effective January 1, 2009.
NOW WE CAN MOVE FORWARD!
The presentation given at the meeting is
available for download. When viewing the presentation please note the dues
are incorrectly noted at $225/year. They should be $200/year. This changes
the finance projections somewhat but we will make adjustments as necessary
to keep the Club in the black. Also, please note the building plans
presented are very preliminary just to get an idea of what a building will
cost and work toward financing it. Building plans will not need to be
finalized for a over a year. The 2009 season will hopefully see us in the
new marina with new docks but we plan to wait until at least 2010 to begin
building construction to allow the State to complete the majority of the
park and marina construction.
Click HERE to download the PowerPoint Presentation - pps format. (9 MB) Click HERE to download the presentation in PDF format. (18 MB)
November 28, 2007
SPECIAL MEMBERSHIP MEETING A special meeting of the active voting members of the Club has been called for January 5, 2008 at 3:00 PM to be held at: Comfort Suites Sandusky The purpose of this meeting is to inform the membership of our continuing negotiations with the State of Ohio for a long-term lease and our plan for the purchase of docks and construction of a clubhouse on the leasehold property. A vote will be called for the membership to grant the Board of Directors approval to proceed with financing the project and enter into lease and loan agreements. In accordance with the Constitution, this will be the only business acted upon at this meeting and a member must be present to vote. Additionally, members need to remember that dues are due on January 1, 2008. Members will not be able to cast a vote at this meeting unless they have paid their 2008 dues. We will be setup to accept dues payment at the meeting.
John Wierzchowski, Commodore |
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