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

Attendees

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

$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

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.

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

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)