Rainbow Board Meeting Minutes

March 20, 2007

 

Attendees:  Luke Lundemo, John McNeal, Barbara Scobee, Amy Breckenridge, Nicole Jenkins (and non-board members Steve Whitlow and Bruce Frazier)

 

December 2006 and January 2007 minutes were approved.

 

Manager’s Report

  • Steve Whitlow reviewed the monthly reports and indicated that February was a good month with an average of $10,000 in sales per day.  Board members questioned the increase in net income from December 2006 to present.  Steve reported that the first of the year there is usually an increase in sales due to New Year’s resolutions, folks trying to eat healthier, etc. 
  • An amendment to the lease with Fondren Traders was given to the Board.  The amendment to the lease increases the space for Fondren Traders thereby increasing the rent based on square footage added.  The rent will increase by $213 for March and $252 in April.  Amendment includes allowing construction to the entrance making it more appealing.  The invoice for the construction work must be provided to Steve prior to the work commencing.  One year remains on the existing lease.   Ann Herlihy, Board member and owner of Fondren Traders, was not present for the vote.  The Board approved the amendment to the lease.
  • There is an opportunity to obtain eight (8) parking spaces in the Woodland Hills Baptist Church lot with entrance off State Street.  The cost would be $280 per month.  Luke recommended a cost-benefit analysis be done to see if freeing up that many spaces could increase sales.  If we could increase sales equal to or more than the cost per month, it may be worth doing.  Steve raised concerns that the lot is not guarded and wondering about the guarantee that we would always have eight spots.  Luke will look into the cost-benefit analysis and report to the manager and Board.
  • All original member loans will be paid for by June 15 (those in the bankruptcy plan).  Bruce indicated there may be a few more that were not part of the plan and we are still working on paying those back.
  • Renovations to the plaza (i.e. installing better ceiling for sound buffer) was brought up again that it is hard to find contractors to provide quotes.  Several Board members brought up that if we do not spend money on this, what else could we ‘improve’?  A new stove would be a major improvement and may increase productivity in the bakery, etc.  Decision was to proceed with trying to obtain quotes on renovations; however, if it does not appear that we will make it for year-end tax purposes, then we should research obtaining a new stove with money-down and possible small term loan.

 

President’s Update

  • Board member Karen Parker resigned from the Board.  Luke read her letter of resignation.
  • In lieu of Karen’s resignation, we have an open Board position.  Cano is the first alternate.  Luke will check with Cano on whether he wants to serve and if he does not, the second alternate (Gen Barbour) will be contacted.
  • Deadline for Board Candidate applications are set for April 25, 2007.  A list of the current Board members terms/term expiration was handed out.  Nicole Jenkins reminded everyone that she does not plan to run for election due to time constraints.  If no potential candidates are found to run, she may reconsider. Voting in the store will probably commence on May 4.
  • The Annual Picnic will be held at the Cedar’s again.  The date is scheduled for May 20.  We need to make the last Bylaw change regarding how we communicate voting for members via email.
  • There is a place in Gluckstadt that will sell us plants for the Plaza cheap.  Luke will double-check on the costs and times when we can pick them up.  This will be more cost-effective than having an annual contract with another company to provide and service the plants.
  • We will try to compile a calendar with all major events listed to help us better manage our time/goals.  It was recommended that we also use this calendar to help us with month-to-month assignments between Board meetings. 

 

Other Items

General Manager’s evaluation must be completed next month. Additionally, we should decide on the GM’s goals for next year.  Luke will forward the ‘GM Goals and Objectives’ write-up to all Board members so we can review prior to next month’s meeting and officially vote on the item.

 

 

No other business so meeting was adjourned.