Board of Directors Meeting Approved 04/08/04
March 4, 2004
Minutes
 
Present: Dean Frisbie, John Justus, Jeff Wilson, Jerry Sullivan, Lorraine King, Debbie Steiner, George Bardizbanian, Gary French, Don Young, Claude Capozzo, Lisa Sottana
 
Excused: Marsha Hughes, Sherm Passalacqua
 
Guest: John Sconza
 
The meeting commenced at 6:35 p.m.    
 
Long Range Committee - Phase II - John Sconza
Sconza briefed the Board on the General Membership Meeting regarding Phase II of the Master Plan.  Prior to the General Membership, Sconza adjusted the Phase II plan by moving some of the projects on the plan to C.I.F.  The adjustment reduced the original cost proposal of the Phase II plan from $4.12 million to $3.8 million.
 
Members in attendance felt very strongly about being prorated funds if they pre-pay the Phase II assessment and then sell their membership within the loan payment schedule.  Sconza scheduled an ad-hoc finance committee meeting with the interested members to review such payment options.  Sconza presented these options to prorate funds to the Board.
 
Young motioned that the adjusted Phase II plan, as proposed by Sconza, be sent to the membership for vote.  The ballot is to have the return date of Monday, April 5, 2004, no later than 5:00 p.m.  The ballot is to be mailed Friday, March 12, 2004.  Should the ballot fail, the Board wants a Plan B to be sent to vote as soon as possible as there is a concern with the water/irrigation system for the golf course.  Wilson seconded, the motion carried.
 
Young motioned that Sconza prepare a detailed letter to the membership explaining the adjustments to the Phase II plan and the updated financing options.  This letter is to be mailed on Wednesday, March 10, 2004.  French seconded, the motion carried.
 
Minutes of February 5, 2004
Bardizbanian motioned to approve, French seconded.  The motion carried.
 
Treasurer's Report
Frisbie wants the Treasurer's Report reviewed by the treasurer, the general manager and himself prior to being mailed to the Board of Directors.  Capozzo will give a report on the food and beverage budget at the May Board meeting.
 
C.I.F.
The approved 2003 C.I.F. items can be paid.  There are funds available for the 2004 approved C.I.F. items.  The account is in good standing.  Frisbie mentioned setting up reserve funds.
 
Committees
Golf: The committee is requesting a $500.00 budget to advertize 2004 Club golf events.  The Board asked Capozzo to look into to the request to see if it can be done from the operational budget.
Green: The bridge rails are to be installed within the next few days.  Golf course 2004 C.I.F. equipment has been purchased.  Kirby markers and colors were discussed.  It was agreed the colors will be red/white/blue used at 100/150/200 yards.  They will be installed in mid-March.
Membership: A proposed Exit Interview was distributed by the committee liaison for Board review.  Sullivan motioned to approve the Exit Interview, French seconded.  After a lengthy discussion, the motion carried.
 
Membership Sales & Notation
Prospective Members: Jerry & Shereene Wilkerson, Doug & Jolinda Sim, Don & Margarite Morrow.
Family Transfer:   Itsuko Moridaira.
Young motioned to approve, French seconded.  The motion carried.  There were five Notice To Sell forms and one Reduction in the asking prices of a membership.  All notices will be effective for sale on Friday, April 5, 2004.
 
Minimum Selling Price
The current minimum selling price and transfer fee are as follows:
Minimum Selling Price: $15,000
Transfer Fee:   Sixty (60) percent to the selling member and forty (40) percent to GVCC with a minimum of $12,500.
Wilson motioned to extend current minimum and transfer fee for six months.  Bardizbanian seconded, the motion carried.
 
Old & New Business
Credit Cards: Bardizbanian explained that the Golf Pro Shop would like the Board to consider the use of credit cards for purchases.  Staff feels that GVCC is losing sales by not accepting credit cards in the Pro Shops.  Bardizbanian requested Capozzo to report to the April Board meeting the positive and negative aspects of using credit cards for Pro Shop purchases.
 
The meeting adjourned at 8:30 p.m. and Board members toured the fitness facility.
 
Respectfully Submitted,
Jeff Wilson, Secretary

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