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

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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

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