Meeting notes Long Term Capital Assets Funding Committee November 4, 2020

Meeting notes Long Term Capital Assets Funding Committee November 4, 2020.
In attendance were: Rick Diachenko, Phil Lombardo, Al Capozza, Mike Johnson, Dan Lemieux, Steve Beauchene and Ed Zito
Since our first meeting on July 26th 2020 we have collected and annualized a significant amount of information and developed a thorough list of the Association’s capital assets. They are divided into three sections: Major assets, Shoreline assets, and Other assets. Also, the report from GNCB Consulting Engineers covering shoreline maintenance costs through 2050 has been reviewed. We feel that we have gathered enough information to make a recommendation to the Board.
It is clear that the $8,500 a year that the Association has been putting aside for capital projects is woefully inadequate. The results have caused periodic major one-time assessments to cover issues that were predictable.
Our next step is to provide the Board with a strategy that will:
·         Quantify the Association’s long term assets
·         Project the cost of maintaining these assets and provide strategies to meet the funding objectives
·         Suggest ways that the Association could generate funds to help reach the funding goals
The report will be ready for the January Board meeting. Rick has volunteered to initiate the first draft.

Charter Commission Volunteers Needed

CHARTER COMMISSION VOLUNTEERS NEEDED, re: trusts and voting rights

Black Point Beach Club Association (“appointing authority) is seeking volunteers for a charter commission, as a result of the following motion that was passed on October 22, 2020: 

” … to establish a charter revision commission to review the possibility of allowing property held in trust at Black Point Beach Club Association to designate a trustee or member of the trust to vote and/or participate in the governance of the association. ”

If you are interested, please send your name, email, address, phone number, and political affiliation (see Sec. 7-190 [a]) to bog@blackpointbeachclub.com.  You must be a property owner at Black Point (not associated with a trust or LLC) or a registered voter in East Lyme and residing at Black Point.

,
Please submit your information by Dec. 31. 2020.
Thank you.
Cheryl Colangelo, Chair, BOG

 

Sec. 7-190. Commission: Appointment, membership, duties, report, termination.

(a)    …the appointing authority shall by resolution appoint a commission consisting of not fewer than five nor more than fifteen electors, not more than one-third of whom may hold any other public office in the municipality and not more than a bare majority of whom shall be members of any one political party, which commission shall proceed forthwith to draft a charter, or amendments to the existing charter, or amendments to the home rule ordinance, as the case may be.

(b) The appointing authority shall direct the commission to consider those recommendations included in the petition and may make other recommendations to the commission. The commission may also consider other items for inclusion in the proposed charter, other changes to the charter or home rule ordinance and such other items as it deems desirable or necessary. The commission shall in its reports comment on each recommendation which it has been directed to consider, if any, and on such other changes or items. The appointing authority shall specify by resolution when the commission shall submit its draft report, which shall be not later than sixteen months from the date of its appointment.

(c) The commission shall terminate upon acceptance or rejection of its final report by the appointing authority.

Long Term Capital Funding/Improvement Subcommittee November 4th, 2020 Meeting Scheduled

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BPBCA BOG October 22nd, 2020 Meeting Minutes

View Minutes Here

Attachments to October 22nd, 2020 Minutes #1

Attachments to October 22nd, 2020 Minutes #2

Long Term Capital Improvement Task Force September 21st, 2020 Meeting Minutes

Long Term Capital Asset Committee notes for September 21, 2020 meeting

In attendance were Rick Diachenko, Janet Bonelli, Phil Lombardo, Al Capozza, Mike Johnson, Dan Lemieux, and Ed Zito,

The committee reviewed possible new income sources for funding long term assets. The suggested ideas from each member were evaluated and sorted into priory groupings of High, Medium, and Low.

We still have not received the final engineering report we need for assessing the value and maintenance costs of our shoreline assets. We scheduled another meeting for October 19th at 10:00 for that purpose.

Phil Lombardo

BPBCA Longterm Capital Improvement Task Force September 21st, 2020 Meeting Scheduled

 

Notice:
The next Long term Fiscal Planning/Capitol Improvement Task Force Meeting will be on Monday September 21 at 9:00 in the clubhouse.

BPBCA September 5th, 2020 Annual Informational Meeting Minutes Posted

View Minutes Here