SCA Board Meeting March 8, 2004

Attendance: Katie, Elizabeth, Dinae, Ayal, Melanie, Eric, Ian, Parson (proxy), Jesse, Hollis, Matthew, Holly Jo, Ben

Rent charges increase- Increase $11 and $19 fees in delinquent member collection policy to $25 and $50.

Ian – Doesn’t like the idea of removing the incentive and adding negative reinforcement

Ayal – The $50 only helps those with lots of money, and a plan prevents people from actually being late in paying their dues.

Vote – 2 stand asides, 7 for.

Holly Jo introduces herself. She is a NASCO employee, and her job is to visit co-ops on the west coast, and to be a liaison between NASCO and SCA.

Everybody introduces themselves…

Discussion of goals…

We are pretty well below average market value (1/3 – ½). 10% of operating income goes back into capital fund.

Co-ops can increase % below market value by going with inflation, as the market operates at a higher rate increase.

Real estate depreciates according to the government (book value) but market value increases, and with it, the amount the co-ops can mortgage.

Ian asks about the condition of the CC as it relates to equity, as it affects membership.

We have $1 million in equity, but will we enough to have make it back?

Maintenance goals can be made by having a home inspector look at the building.

We will continue to discuss this tomorrow.

Next meeting is March 28th at CC, general membership.