Vote To Create Building Fund: Difference between revisions
From Pumping Station One
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Sponsors | ==Sponsors== | ||
*Andrew Wingate | * Andrew Wingate | ||
*Jennie Plasterer | * Jennie Plasterer | ||
*Lyn Cole | *Lyn Cole | ||
*CrazyUncleDave | *CrazyUncleDave | ||
==History== | |||
* Mailing List Announcement: 8-27-24 | |||
* Officially Proposed: | |||
* To be Voted on: | |||
==Background== | |||
We have 18 months remaining on our lease. Our landlord is not interested in renewing it. He has offered us the opportunity to purchase. The asking price is $1.3 million. Negotiations are ongoing. | |||
We believe purchasing the building is the best option to continue PS1's existence. The landlord is generously willing to owner finance the building for a period of 3 years, with a down payment of 20% ($260k). | |||
Our goal is to raise $300k for down payment and related expenses. Realizing this objective will require dedication and mindfulness. Our current financial trajectory will not accomplish this goal; change is necessary. | |||
*Member dues will need to be raised. | |||
*Member votes will need to be considered carefully. | |||
*Extraneous spending in areas will need to be reduced. | |||
We propose authorizing the Treasury Team to direct $15k a month to a Building Fund designed to position us for building purchase, moving expenses, or whatever other solution we can devise in the coming months. | |||
==Language== | |||
The membership authorizes the Treasury Team create and direct $15K a month into the Building Fund. The Building Fund is designed be spent on building purchases and building-related expenses. A vote of the membership or board of directors can undo this. | |||
