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2008-02-12 BEVERLY GOLF & TENNIS COMMISSION 134 McKay Street Beverly, Massachusetts 01915 Meeting of February 12, 2008 Commission Members Jeffrey KLein, Chairman Richard Barger, Vice-Chairman Kevin Ascolillo Chad Crandell Gary Lambert. Martin Lawler Douglas Richardson Diane Presutti, Recording Secretary Guests Present: John Dunn; Manny Barros, Jane Ash, Call to Order: Mr. Klein called the meeting to order at 7 p.m. He introduced the guests present and thanked them for attending tonights meeting. Approval of Minutes of November 13. 2007 Mr. Lawler motioned to approve the minutes of November 13, 2007, seconded by Mr. Richardson. Motion carried 6-0. Finance Report Mr. Lawler explained that there were no bills paid in December. He continued to explain that $7000 was paid in January to Delorenzo Electric for upgrading the heating in the back room which consisted of radiators and controls. The purchase of the greens covers totaled $6,700 which covered six greens. The balance YTD is $39,500 and he expressed that the BGT may come under budget for maintenance. Mr. Barger motioned to accept the finance report and presented, seconded by Mr. Richardson. Motion carried 6-0. Mr. Lambert arrives. Update on Barros/Johnson Ne20tiations Mr. Barros indicated to the Commission that he is working with his bank on the loan. He also indicated that he has a long term relationship with this bank and they are moving forward in a positive direction. He indicated that the bank is not yet comfortable with the armortized period of the loan. He stated that the Board of the bank will meet on February 19 and he needs to present something more concrete for the them to be comfortable. Mr. Barros has stated that he has signed a letter of intent and Mr. Johson has cashed the deposit check. He also stated that Mr. Johnson is currently traveling and has provided a Plan "B" if the bank will not close on this last piece which is the most difficult. Mr. Lawler indicated that come the first of March the club and course need to begin preparations for opening and some members are worried about their money. Mr. Barros also indicated that he is currently selling some assets to make this deal complete. He stated that there are 209 members, $228,000 in escrow, the loan will cost $13,OOO/monthly, with the payment to the City of$60,000/monthly. He indicated that Mr. Johnson does want this to work; he wants out. Facilities Update on Proposal to Mavor Scanlon Mr. Dunn expressed that he wishes to target the City Council at their first meeting in March. He also expressed to the BGT that waiting for the end result in the JohnsonlBarros negotiations may be a good thing, but he expressed the first presentation to the City Council will be in March and the second meeting will follow. Mr. Lawler motioned to ask Mr. Dunn to present to the City Council at the March meeting the plan from the BGT regarding financing for the Master Plan which will consist of ADA and Maintenance repairs; the second meeting will consist of financing for irrigation and drainage updates and repairs. Motion seconded by Mr. Barger. Motion carried 6-0. Mr. Dunn stated that there has been no tree work done as of yet, he stated that the City Workers will approach that project in March or April. New Business None at this time. Public Response Mr. Klein asked the members present if they wished to speak. Mr. Butler spoke in regards to the extension regarding the lease of the contract to be transferred from Mr. Johnson to Mr. Barros. He stated that the Mayor can extend that lease at any time to allow the finalization of the negotiations. He also indicated to the Commission that Mr. Barros is invested and motivated. He asked the Commission to make a motion to ask the Mayor to extend the lease to 7 years to allow Mr. Barros to close his deal with the bank. Mr. Klein assured Mr. Butler that the BGT Commission is 100% behind Mr. Barros. Mr. Lawler motioned to adjourn public meeting and to go into Executive Session at 8:20 p.m., seconded by Mr. Richardson. Motion carried 7-0.