Below are the minutes of the Board of Directors
meeting. Each set of minutes is subject to the next month's
SOUTH BEND BRIDGE CLUB,
Tuesday January 13, 2014 at 10:00
The meeting was
called to order by President Tom Hebron.
attendance were Tom Hebron, Karen Drain, Maureen Trubac, Sally
Frame, Bill Searcy, Tim Carl, Tricia Killeen, and JoEllen DePaepe.
Minutes of the
December 17th meeting were approved with a few corrections.
Sally gave more
information on advertising in Boom and Sassy. Boom and Sassy are
magazines distributed to businesses such as medical offices and hair
salons. If we buy two ads we get one free. They do not need to be in
consecutive issues. Each ad is $100. ACBL will help with the cost if
this is approved. It must have the ACBL logo. Tricia and Sally will
work together on this project.
continued the discussion on new lease options. Paul and Tom Hebron
talked to the management of Town & Country. Our lease will expire in
May, 2014. The reasons Paul Silberman gave to consider a new
location are as follows:
1. We need more
2. If we had more
space, we could hold sectionals and regionals. That would result in
more revenue for the club.
3. We are also very
crowded at our present location. ACBL recommends 9 sq. ft. per table
with a minimum of 8 sq. ft.
4. We need more
Paul presented six
options – the first four involve our moving to the present Shirk's
location and two involve staying where we are. Shirk's across from
us is moving part of their business, and they have too much room for
the remainder of their store. They could use our space, and we could
move into theirs. We would have to do some remodeling. Estimated
charges to remodel would be about $50,000. This would include two
bathrooms with 3 stalls, one stall in each for the handicapped. We
would have 4000 square feet as opposed to 2250 (our current square
footage which includes the hallway). Shirk's also has a storage area
of 80 x 50 feet which we might want to change. We would have the
capacity to hold 35-40 tables. Because of our current financial
situation, we would have to get a loan from Town & Country, and they
have agreed to provide funds at 5% interest for 7 years.
Option 1: Get a
$50,000 loan for 7 years. Rent would be $2686 ($706.70 of this would
be the loan).
Option 2: Get a
$40,000 loan for 7 years. Rent would be $2545 (loan service $565.36)
Option 3: Get a
$30,000 loan for 7 years. Rent would be $2403.00 (loan service
Option 4: Move to
Shirk's with no remodeling = $1979/month
Option 5: Stay at
our present location with a 3 year lease. Rent would increase by
7%/year. Year 1 monthly payment would be $1586.
Option 6: Stay at
our present location with a 5 year lease. Rent would increase after
year 1 by 1.5% each year. Monthly payment would be $1482 the first
(click here for a financial analysis
spreadsheet of these options)