CMM 2008-09-14
Minutes of Meeting for Worship for Business
Concord (NH) Monthly Meeting of the Religious Society of Friends
9th Month 14, 2008
Concord (NH) Monthly Meeting gathered in a regularly called Meeting for Worship for Business at the Merrimack Valley Day Care Center in Concord, NH. Friends present were Lois Booth, Susan Chambers, David Freeman-Woolpert, Kathy Mercer, Linda Peters, Alisa Bernard, Jonie LaBombard, Bill Noyce, Mark Barker, Greg Heath, Ruth Heath (treasurer, substitute recording clerk) Sara Smith(clerk), Jay Smith, Kathy Urie.
The meeting was opened by the clerk with a period of worshipful silence.
9.1 Ownership the Meeting House: We have consulted with the YM office and discovered that within NEYM, many Monthly Meeting properties are owned by NEYM, which is a 501(c)(3) organization. We are not incorporated as a 501(c)(3) organization but are part of NEYM. Our meeting would appoint a Board of Trustees of this property to manage and control the property. This trust agreement is being worked on in conjunction with NEYM.
We approved that NEYM will be the owner of the property and structures upon it through this trust agreement. The Meeting would appoint trustees through the Concord Monthly Meeting business process. (The process is that they be nominated by the nominating committee and approved by the business meeting on a yearly basis.) This Board would make legal decisions about the property and structures on it. If Concord Monthly Meeting would be laid down, the last act of the Board would be to decide how to deal with the property, because the YM does not really want to manage property.
9.2 Application for Non Profit Corporation status in NH: We discusses whether the Meeting should apply for NH State non-profit corporation status. This is very easy and requires an annual report and possible financial reporting when our size grows. This would give corporate protection of all members so that none of us individually would be liable for suit. We approved this application for NH State non-profit corporate status.
9.3 Terms of Loan Agreement: At this point, it appears that the difference between cost of building and income from gifts, grants, and pledges is about $90,000. The Housing Committee has discovered that loans have been offered by members to the Meeting for construction of the Meetinghouse. The committee suggests that all lenders would be equally secured and paid at the same rate. Payments would be quarterly. We will need an agreement that would address the dissolution and how they will be paid.
We ask that the Housing committee contact the potential lenders to find an acceptable joint length of loan and rate, which we anticipate will be lower than 7%. We reiterated that we hope to be able to lower the loan amount significantly through future fundraising and that we also hope to pay them off sooner than the schedule without penalty. We will approve these loans at a future business meeting.
9.4 Agreement with AMTP: What happens on dissolution of CFM? We propose giving first Right of Refusal to AMTP. People have donated money donated for Quaker purposes and we want to honor that. Our deed from AMTP will have a use restriction (any owner must have as their purpose: education, youth development, conservation, peace, social justice or, spiritual growth). The Housing Committee suggested that we would offer first right of refusal at a rate of 75% of the market value.
We approved.
If AMTP should dissolve, our Joint Use Agreement would be void but deed restrictions on usage would hold. We ask the Housing Committee to let AMTP know that we are seeking and understood there was to be a reciprocal dissolution agreement with AMTP which might us first right of refusal of their property at some discounted amount.
AMTP proposed in July that we sign (at least a month in advance of closing) a Transfer of Property Agreement that contains details about the deed and Joint Use Agreement. This dealt with various issues we have already brought before the meeting, including the dissolution arrangements. We approved of Sara signing this agreement if they still, at this late date, wish it to be signed. This agreement is attached.
9.5 Revised Estimate of Construction Costs: The Housing Committee had hoped to be bringing a relatively firm estimate of cost from the contractor to this meeting but regret that this did not happen.
9.6 Called Meeting for Business: The Meeting decided to have a called meeting for business on September 28th or October 5th in the evening. We will try to use Havenwood. At this meeting, the Housing Committee hopes to present a revised update of construction cost. We would also approve signing of legal documents related to the transfer of property.
9.7 Canterbury Fire Chief on Construction Code Enforcement: We discussed the regrettable fact that the Canterbury Fire Chief notified us that if the building is used for sleeping a more stringent code comes into play (as a commercial place of residence) that requires expensive sprinkler systems. We are not sure if this would prohibit a once a year usage of the property by youth groups over a weekend.
We closed in worshipful silence.
Respectfully submitted,
/s/ Ruth Heath, 9/28/08 Acting Recording Clerk
Accepted as the approved record,
/s/ Sara Smith, Clerk
