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May. 4, 2010 at 9:05am
April 30th Board Meeting Minutes
Friday, April 30, 2010
TFC Board Meeting Minutes
Need to discuss:
- Farmers market dates
- Food on film & meeting on 7/14
- Storage
Present: Molly, Corrinne, Casandra, Amber, Ken, David
Business Plan:
- Molly to get in touch with John regarding numbers and her role.
Earth Day:
- Dupont & Bryant Park: 2 new members signed at Bryant! Dupont attendees were more oriented toward Olympia and south of Dupont, only a few from Tacoma.
Grants:
- No new information, waiting for answers.
- Have not heard back from Stuart Reid from Food Co-op 500
- Should we target types of grants? Local vs. Government vs. other
- Grants will help us fuel future loans
- **Ken to pursue funds further**
Member Loans:
- Having trouble finding co-ops for examples and guidance of the member loan program
- **Ken to pursue board insurance**
- Conflicting opinions from legal community about member loans
- Possible that rules are state specific
- There are specific types of loans that we qualify for
- Pursuing loans from members will require care in structure to avoid being a regulated security or we can go through securities filings (expensive) to be safe
New Action:
- Bumper stickers are now free!
Member loans:
· Discussed potential lenders
· Decided to go forward with 504 option, ideally finding 20 members willing to loan $5000 or more each at favorable rates
- Molly and Ken will look at the required paperwork (form, disclosure notice) this week and decide if we need counsel. By the end of the coming week, they will have a recommendation. If we need an attorney, we will likely need to spend $2500.
- It was moved and seconded that we authorize Molly to spend this money, should it be deemed necessary. Motion passed unanimously.
Membership:
- Consensus emerged that we should take a more “grass roots” approach to increasing our membership at this point.
- We agreed to start this process by having each board member recruit five new co-op members.
Timeline:
- We attempted a conservative estimate of how long it will take to navigate legal issues, implement member loan program, hire a GM, and stock the store. We decided it is still realistic to say we hope to be open in early fall.
45 days to deal with legal issues
60 days: from beginning GM search to hiring;
45 days from hiring to “lettuce on the shelf;”
Newsletter:
Ariel is preparing a newsletter. Amber provided an update.
- Ken will prepare a brief bio and a small piece on the GM search.
- Casandra will provide survey results.
- Molly : financial info
- Amber: letter from the president
- Michelle: upcoming events and volunteer opportunities
All info to be sent to Ariel by Sunday night.
posted by Michelle under board, minutes
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