In attendance:

JJ Booth - Co-Chair , Billy Neu - Co-Chair , Patty Badini - Recording Secretary

 Jim Osborne ,Veronica Osborne, Kevin Byrne ,Doug Scholpp, James Vickers, Janet O’Connor

7:45pm

Unable to see any property. Has been in touch with a realtor. South Coast Real Estate.

Tax implications. As of this meeting the IRS had assigned someone to investigate the concerns about capitol gains tax. This could take up to 30 days. Jane Brondell suggested that the Hall consult with a tax accountant or tax attorney. Per the IRS web site it did appear that an entity has three years to reinvest funds from the sale of the property with out penalty. (Note: A few days after this meeting, Kevin did report that there are no capitol gains taxes to be concerned about because there is no dept on the property.)

After review of the stack of available properties provided by the hall. Janet gave a few to Doug and Billy to follow up with.

Per a real estate agent he consulted with, there are concerns with zoning issues for a Hall.

Mileage expenses paid by the hall is currently $750. per month on average. A ve

y conservative estimate would put the savings to the Branch at approximately $400. per month if the Hall were centrally located.

Current annual expenses:

Insurance $3800.

Lawn Maintenance $1800.

North Rap Session rent $1200.

Holding Corp $6000.

After discussion on which expenses could be impacted by relocation of the hall, the committee agreed that there is potential for $6600. savings annually.

Although it was discussed, this figure did not include the potential savings to the Branch for it’s social events such as the picnics and the annual Christmas Party. A larger building and more property could accommodate those types of events, as well as provide a location for those members who would like to use the hall for weddings, graduation parties, etc.

Currently investigating the shopping center off of PGA. It is currently run down. It is available as a rental. He will follow up. The committee did discuss that a central location for the Hall is not a requirement.

A high quality steel building would run $100. - $150. per square foot. From septic to roof. This would be to build on vacant land. Shell only.

Jim is working on getting an additional market analysis. This is hard to find with the soft real estate market.

Both J.J. and Kevin know individuals who may be able to give an additional market analysis. Veronica spoke with a builder on her route. She will send any info to the next committee.

James Vickers verified that the current building is 3000 square feet and sits on 7/10 of an acre.

Doug reviewed article in the E-Activist on relocation of a Branch Hall. It suggested what is needed to accomplish this.

- Transparency

- Define the purpose of the committee

- Committee should recommend what the branch needs

- Create a checklist

- Hunt with due diligence and consideration of codes and building law

- Inspection service suggested

- Real Estate Attorney suggested

Check list suggested for 1690:

- 4000+ square feet

- 2+ Acres

- Rooms, 3 offices, conference room, Hall meeting area, Kitchen, Bathrooms with 2+ stalls each,

Bar / Pool room, 144 square feet for separate storage (out building)

- Parking as per code (60+ spots)

Billy Neu reported that there is a potential to build a steel building for approximately $45. - $75. per square foot. This would be a standard building as opposed to the high end building suggested earlier. Just for reference Billy explained that this would mean a 10,000 square foot building could run $55,000. and a 5,000 square foot building would run around $35,000. Plus labor, the interior construction, septic, and electric, etc.

Jim Osborne posed the question to the Committee. Is it feasible to relocate the hall.

The Committee voted : 8 YES, 1 Abstained. No further meetings required.

It is suggested by this committee to obtain an appraisal for the existing building and consider moving forward.

The current building is not adequate for the current membership. It is too small, and in a bad location.

Consider a larger building with more property.

This could create additional savings by unifying large events hosted by the Branch. Eliminating the need to rent a larger location.

Meeting adjourned 9:24 pm