Blakely Island Maintenance Commission, Inc.

Minutes of November 26th, 2005 BIMC Special Meeting

The special meeting was called to order by Marc Droppert at 10:10 AM in the shop building at the Blakely Island Marina. Board Members in attendance included:

Marc Droppert, President
John Madden, Vice President
Ben Dole, Fire and Waste Commissioner
D.L. Fitzpatrick, Secretary
Jane Loura, Treasurer
Jeff Fegert, Roads & Airport Commissioner

Cindy Zech – Unable to attend

Marc opened the meeting by thanking everyone in attendance and briefly reviewing the various stages of the Marina development.

Marc asked the Secretary D.L. Fitzpatrick if the meeting had a quorum. Fitzpatrick reported that it did.

At 10:20 Marc Droppert opened the floor for discussion regarding the proposal being reviewed for vote.

Much discussion ensued regarding the surrounding issues and operations of the marina.

Cheryl Pflug placed a motion on the floor to reject the proposal. Instead, asking that the community empower the board to indicate to the BIT that we would like to enter into a lease for access. However, requiring further approval, at the BIMC annual meeting or via mail of the detailed final lease terms.

Seconded by Mary Ellen Hogle.

Discussion ensued.

The Question was called, rejected by a majority vote.

Jeff Fegert placed a motion on the floor, as follows….

RESOLVED, the Board of Directors is authorized to undertake and conclude negotiations to lease certain portions of the BIGS facility from the BIT (and form a wholly owned subsidiary for such purpose), on terms consistent with those outlined in the November 16 mailing to the BIMC Membership, subject to the following clarifications and to completion of related facility due diligence:

  1. BIMC and its subsidiary will not incur additional capital expenses related to BIGS without first obtaining the further consent of the BIMC Membership.
  2. BIMC and its subsidiary will not conduct retail operations of the store facility (other than sale of fuel products) in a manner which make it accountable for related inventories, or which place it at risk for the profitability of such operations.
  3. The reference to the Bald Bluff Easement is deleted from the November 16 mailing.
  4. BIMC will obtain BIT’s commitment to negotiate an appropriate extension of the lease term in good faith in the event material capital improvements are proposed to be made to the leased facilities, and to incorporate renewal option language in the lease, that allows BIMC or its subsidiary to renew the lease on equivalent terms provided the facility continues to be operated for the benefit of the community, is and has been maintained in good working order, is and has been operated in compliance with applicable laws and regulations, and to the extent there is no material change in related circumstances.

Seconded by Nancy Chapman.

Cheryl Pflug placed a motion on the floor to amend the proposal to limit free water right to the term of the lease.

Seconded by Pam Roats.

The Question was called on the amendment, passed by majority vote.

The Question was called on the motion, passed by majority vote.

Marc Droppert thanked the board for their time; and the community for their time in this process. He requested volunteers for the soon to be formed due diligence committee and board, inviting any with interest to contact a board member.

The meeting was adjourned at 11:20 AM.

D.L. Fitzpatrick III, BIMC Secretary