Minutes of the 6-07-2010 Board Meeting
Medford Food Co-op
Meeting of the Board of Directors
225 W. Main St., Medford
June 7, 2010
Call to Order: 6:30 p.m.
Present: Augustine Colebrook, Donna Kessler, Tommy Larson, John Miele, and Jim Sims
Absent: none
May 24, 2010 meeting minutes were read and approved.
Old Business:
Board discussed the details of the fundraising campaign. Appropriate and accurate organization of data were agreed upon and delegated. John Miele reported that after almost half of the phone-a-thon completed, we are at about one-third of our goal of total community fundraising.
Regarding the fundraising event planned for June, Augustine Colebrook reported that too much time would be required from board members for organizing this event at short notice. She recommended that we delay the event until later in the summer. This motion was proposed and unanimously approved by the board.
Meeting with Russ Batzer of Batzer Construction reviewed. He indicated that our desired renovations of the Riverside property would require replacing much of the HVAC equipment and ducting, as well as other changes to the proposed lease. He will amend the lease to include necessary improvements to the facility. Jim Agreed to call Russ to request the inclusion of inputs from Tommy and Ric Sawyer during the scope of work process.
Access to the Riverside property through the WinCo parking lot discussed. Tommy agreed to look into potential access through the plaza from this area.
John and Jim met with ComNet Marketing group regarding progress. They have made 413 contacts out of 978 on their list. 35 people who are potential loan donors have been identified.
Jim agreed to contact the local insurance commissioner regarding D&O policy renewal, the penalty fees that they have assigned to the MFC, and their legality of such charges.
John Miele contacted the Oregon Business Development Council regarded potential loan sources for the MFC. Their representative in Salem indicated that they work with the local bank, Premier West. After further investigation, it was found that this bank requires the loan to be personally guaranteed by members of the board or directors. Of course, this is unacceptable in our situation and thus ended this potential.
The importance of including General Manager plans, including hiring, inventory, and other development efforts was discussed agreed upon.
Graphics requirements need to be addressed as soon as we move forward on lease negotiations. Also, marketing requirements in terms of graphics need to be reviewed.
New Business:
Tomorrow, Jun 8, a meeting is scheduled with the Mail Tribune, including Karen Fronik, to help energize our fundraising campaign. Television media meetings have also been scheduled.
Marketing sign size and placement at our selected location was discussed. Tommy Larson was authorized up to $750 for the sign(s) at the Riverside site.
Copies of the business plan are needed for handout to potential investors. Tommy was authorized to spend up to $100 for up to 20 copies of the business plan at a local printer. A potential sponsorship from a local shop would be promoted.
Tommy agreed to contact Scott Coupe of Curtis Restaurant Equipment to determine the potential for assistance with store layout and design. Scott is a representative from a local commercial equipment supplier.
Adjourned at 8:00 p.m.
Thomas Larson
Secretary
