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

October 26, 2008

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

DIRECTORS NOT PRESENT: Dora Gostanian,

Richard Meffley called the meeting to order at 12:10 p. m.

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SITE SELECTION COMMITTEE:

Chairman, Byron Steinert, reported that the negotiations were on going, however, one final counter proposal was needed. Byron presented a proposal and asked the Board for approval of the following items:

1. $1.55 per sq ft per month lease rate.

2. Free rent for the second, third and fourth months.

3. The Unit to pay first and last months rent up front.

4. Instead of 6 additional handicapped spaces on the South side of the building, we would accept 4 spaces marked “Visitor”.

5. Occupancy to be 90 days from signing the lease or upon competition of improvements.

A motion was made by Dave Shuster and seconded by Bert Rettner to sign the proposed counter offer.

CALL FOR DISCUSSION: John Oakshott stated his concern that while the Owners are offering to pay all costs of Tenant Improvements ($89,500), they are simply adding this costs to the per square foot lease rate. Additionally, the annual 3% increase in lease rate is calculated on the cost of the Tenant Improvements. John suggested that we pay the Tenant Improvements from the Building Fund and ask for a lower per month lease rate. Bert Rettner reminded the Board that the $89,500 if it remained in the Building Fund, would earn at a rate higher than the 3%.

After much discussion and many calculations, the vote was called. The motion was approved with seven votes to approve, one no vote and one abstention. The President did not vote.

AS THERE WAS NO FURTHER BUSINESS TO DISCUSS, THE MEETING WAS ADJOURNED.