FII BOARD MINUTES

AUGUST 4, 2002

COMMUNITY CENTER

I. CALL TO ORDER:

               President Thomas called the meeting to order at 1:00 P. M.

II. ATTENDANCE

               The following were present: Diane Babineau, Nancy Fournier, Dick Giggey, Carl Hommel, Fritz Mueller, Dick Norris, Jeanne Sullivan-Toomey, Mark Thomas and Interim General Manager Joseph Potts (part time). Dave Decker was excused.

III. APPROVAL OF MINUTES

               The minutes of the Board meeting of July 19, 2002 were approved as amended unanimously.

IV. FINANCIAL REPORT YTD

               The financial report was presented. A draft budget for 2003 will be worked on at the next meeting.

V. REAL ESTATE

               All pending transactions have been closed, with the exception of Lot 1330 (Osborne).

               The party that wished to purchase Lot 906 from FII and sell Lot1138 to FII has changed their minds.

               The proposed changes to the FII Real Estate Policy were discussed. A new version will be circulated to the Board for review.

               Ed Charette presented the Board with a Trail System proposal. Hommel MOVED and Babineau SECONDED that the Board approves the Trails in Phase 1 (Trails 1-7). The motion PASSED unanimously.

VI. PROPERTY TRANSFER TO TOWN

               Tabled

VII. BALL FIELD DONATION

               Thomas MOVED and Mueller SECONDED that FII donate the sum of $2,500 to the Ball Field, to be used at the discretion of the Ball Field Committee. Norris MOVED and Sullivan-Toomey SECONDED an amendment to the motion, that the original motion be tabled until the FII Board receive a written financial statement of the ball field project, showing all income received, expenses paid, and a statement of future expenses expected. The amendment FAILED by a vote of 1-6-1. The original motion PASSED unanimously.

VIII. FRYES LEAP LEASE

               Ms. O’Conner has not signed the lease as yet, however, her payments have been received.

IX. TOWN-FII LEASE

               Tabled.

X. MARINA COMMITTEE

               Sullivan-Toomey reported that the Marina Committee wishes to have a short meeting with the FII Board. They were invited to meet with the Board at 7:00 P. M. on August 23^th.

XI. NEW BUSINESS

               Dick Norris stated that he believed that the FII Board should have a policy requiring that all requests for funding by FII should be submitted in advance of the pertinent meeting in writing, providing all relevant information and data supporting the funding request. Mark Thomas responded by stating that he thought that was the policy of the Board, that a formal motion to adopt such a policy was not necessary, but that this statement should be included in the minutes of the meeting.

               Thomas asked and received Board concurrence that the Town Hall evaluation project was a Town issue, not an FII issue (unless FII is asked for funding after the evaluation is completed)

XII. FUTURE MEETINGS

               Future meetings were scheduled for Friday, Aug. 23 at 7:00 P. M., Friday, September 20, at 8:00 P. M., and Friday, October 18, at 8:00 P. M.

XV. ADJOURNMENT

               It was MOVED and SECONDED that the meeting be adjourned. PASSED unanimously. The meeting was adjourned at 3:45 P. M.