American Contract Bridge League Unit 522 – Fresno, Inc.

A Non-profit Corporation Serving Fresno, Madera and Mariposa Counties

2415 East Clinton Avenue, Fresno, California 93703

July 13, 2008

DIRECTORS PRESENT: Richard Meffley, Jill Wood, Margaret Mahaffey, Bert Rettner, Paul Boyd, Dora Gostanian, Mary Jo Davila, Kay Chrisman, Dave Shuster, John Oakshott and Anita Penny.

Richard Meffley called the meeting to order at 4:45 p. m.

APPROVAL OF MINUTES:

No minutes were presented for approval. June 2008 will be presented at the September 2008 meeting.

TREASURER REPORT:

Paul Boyd reported on the Financial Statements for June 2008 including the January through June 2008 comparison to the same period in 2007.

1. Net income for the month has increased again in June due to the increase in fees from Club and Unit games. Expenses increased in June 2008 by 9%.

A motion to accept the Treasurer’s report was made by Margaret Mahaffey and seconded by Jill Wood and unanimously accepted by the Board.

SITE SELECTION COMMITTEE:

Site Selection Committee recommendations were given to the Board by Chairman, Bryon Steinert.

· The committee considered at length, the option to purchase a building but concluded the cost of suitable property to be in excess of $1 million. It was determined, after consultation with specialists, that the borrowing capacity of the Fresno Bridge Club was limited to between $300 - $400 thousand when the $192,000 in the building fund is used as a down payment.

· The committee considered several lease options presented by Charles Tingey and Eric Jans of Colliers Tingey International. The committee concluded that one site located in the Guarantee Financial Center, 1329 East Shaw Ave., Suite 100, was most suitable after the proposed tenant improvements are completed.

1. The building is approx. 2800 square feet.

2. Proposed tenant improvements would provide two game rooms, one with 15 tables and the other 10 tables that could be used for lessons, two Director stations, a kitchen and adequate storage for all equipment and supplies. The number of tables in each room can be increased for special events.

3. The restrooms are conveniently located in an adjacent building just a few steps away in a covered walkway.

· The committee has determined that the FBC has the ability to pay $3,600 per month in lease payments on a “Full Service Lease”.

Recommendations:

1. Approve and sign the attached Letter of Intent to authorize Colliers Tingey International to enter into lease negotiations with the owner of the property.

2. Approval to pay all one-time relocation expenses from the Unit’s Building Fund.

Discussion:

1. Jill Wood expressed a concern that the same firm is handling both the lessee and leaser. Eric Jans answered that different brokers within the firm are working each side of the negotiations.

2. Jill also questioned the lease price per square feet as possibly on the high side. Byron answered that the lease price was “Full Service” which means that the lease payment includes all costs such as PG&E, water/garbage, cleaning and maintenance. As a Full Service Lease, the price will certainly be negotiated with an attempt to reduce the price per sq ft; however, the asking price is at market values.

Questions called and voting per recommendation:

Recommendation #1, Approval to sign the Letter of Intent:

Bert Rettner made the motion to approve with Paul Boyd making a second. Unanimously approved by the Board.

Recommendation #2:

Margaret Mahaffey made a motion to table recommendation #2 until more information was received. Jill Wood made the second and the Board unanimously approved.

Recommendation #3:”

The committee made a recommendation to “Pay only one-time relocation expenses from the Unit’s Building Fund. After much discussion, Dave Shuster made a motion that changed the Committee’s recommendation, removing the word “only”. Dave made a motion to approve one-time relocation expenses from the Building Fund. Paul Boyd made the second. The Board unanimously approved.

EDUCATION AND RECRUITMENT:

The Friday morning Beginning Bridge class was cancelled and the few students moved into the Tuesday evening class.

CLUBHOUSE:

A condensation problem in the air conditioning unit resulted in a mild flooding in the card room. The problem was corrected.

NEW BUSINESS: Jill Wood stated the importance of all directors attending the September Board meeting to cast their vote for the District 21 Director.

AS THERE WAS NO FURTHER BUSINESS TO DISCUSS, THE MEETING WAS ADJOURNED AT 6:00 pm.