Minutes:20080307

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Friday, 7 March 2008: Member's Video Conference

  • Meeting brought to order: 17:19
  • Present: James Cowan, Shannon Cowan, Jan Steinman, Carol Wagner.
  • AGREED: EcoReality authorizes Jan Steinman and Carol Wagner, members, to negotiate with Myles Wilson (realtor for the seller) for the 17 acre parcel with two houses at 2152 and 2172 Fulford-Ganges Road. These members are authorized to bid up to $1.3 million dollars for the property as they see fit. The offer will be nominally subject to the conditions stated in a previous email, which may be stricken or modified by those members, and any other condition that these members find reasonable and necessary to assure the purchase.
  • AGREED: Gavin Johnston will simultaneously execute, in writing, the existing "phone call" offer acceptance on the ~20 acre "snake" property adjoining the property above, and that upon successful execution of the 2152/2172 Fulford-Ganges Road purchase (above), will purchase an appropriate number of EcoReality Class A investment shares (approximately $390,000 plus closing costs), and EcoReality will use the proceeds of that investment share purchase to purchase the "snake" property.
  • AGREED: Time that Jan and Carol put into the purchase of 2152/2172, whether the purchase is ultimately successful or not, will be "banked" and eventually either:
    • repaid at the community service rate in effect at the time of payment (currently $15), or
    • counted against their community time commitment (currently 10 hours a month), or
    • exchanged for Class B shares, in accordance with EcoReality Rule 21.3.2.2,
    according to the wishes of the member (Jan or Carol), and at a time of mutual convenience to both the member and EcoReality.
  • Brainstorm: evaluate how well 2152/2172 Fulford-Ganges Road ranks in our land criteria. Jan will provide a model, and members will evaluate conformance to each criteria on a scale of 0 to 10, and each criteria will be weighted by the 0-100 weighting assigned by each member.
    • AGREED: the proposed purchase meets the needs of EcoReality as well as, or better than, any alternative that has surfaced in the past four years.
  • Meeting adjourned: 18:11

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