Event:2015/09/21 Until the Revolution Working Group

Omni "Buy the Building" working group meeting - Monday September 21, 2015

=Attendees=
 * Laura, Yar, Robb, Jenny, Fred

Update on Lender

 * see laura's email - lender is afraid of being the bad guy, and wants a shorter term. impressed by $1M donor, thinks we should find another one
 * won't donate himself, but says "not my project"
 * rob: sounds like maybe he doesn't want to loan. telling you to do something else...
 * laura: i think we can meet his terms
 * need to clearly outline what happens in case of default and how loan is secured, in order to protect him & his reputation
 * 10 years max, but we could propose a lower interest rate
 * not keen on grace period - made him curious about our cashflow
 * matt's going to write up projections of loan terms, interest rates, etc
 * need to show how omni is related to internet archive
 * robb: what if sudo was the fiscal sponsor of the omni?
 * need to show him a business plan
 * jenny: maybe ask the berkeley business students to help us?
 * need to account for potentially 2 years of paying property taxes before we get refunded w/ welfare tax exemption

= New Donors =
 * Laura has an outreach plan a couple weeks from now

= Owner Financing? =
 * $750,000 down payment was discussed before the lease was signed bit there is nothing in the lase or option to purchase.
 * much talk around the subject of the owners' personal qualities

=501c3 App=
 * Fiscal Sponsorship Resolutions:
 * we can imminently sign one with sudo mesh (jenny was delegated the decision by the board)
 * awaiting replies from Fermentation Station, MPM, OpAl/LLC, Real Vegan Cheese & BAPS
 * would have to get delegates consent on Thursday once we get confirmation from interested projects


 * Financial Statements
 * All collectives poked today by Matt G
 * We have enough $ for October
 * One of our awesome volunteer accountants was sick last week, got less work done than predicted.

=Last Week's Action Items=
 * Digitize and send sublease agreements [Jenny]
 * DK is looking for Phat Beets', need a sig from FNB
 * Finish bios for BoD [Jenny] - just need Dragons!
 * Print, sign and send updated Bylaws [Jenny] - sent 9/14, may need to edit OpAl's name
 * Ping lender again [Jenny] - pinged 9/14`
 * Edit Charitable Activities response: https://pad.riseup.net/p/omniactivities

=Action Items=
 * Contact Media Alliance & SchoolFactory re: overhead for being a fiscal sponsor of multiple projects [Jenny]
 * Arrange meeting with BACLT, Jesse, & Lender
 * Next Tuesday at meeting with Berkeley business law bring up idea of helping us with writng business plan (laura)

=Previously=
 * https://omnicommons.org/wiki/Event:2015/09/14_Until_the_Revolution_Working_Group
 * https://omnicommons.org/wiki/Event:2015/09/07_Until_the_Revolution_Working_Group
 * https://omnicommons.org/wiki/Event:2015/09/02_Meeting_with_Jesse_Palmer
 * https://omnicommons.org/wiki/Event:2015/08/31_Until_the_Revolution_Working_Group