[Lnc-business] Mail Ballot on HQ purchase

[Scott L.]

"Daniel Wiener moves the following:

 

Motion to approve the purchase of an office in the greater Washington, D.C.
area contingent on the following conditions:

*	A minimum of 33% of the purchase price plus build-out shall be
raised from dedicated contributions.  If a portion of that is in the form of
pledges, the pledges must be converted to cash before a purchase contract
and loan agreement are finalized.
*	Any loan must be based on a minimum of a 30% down payment and a loan
with options extending for a minimum of 10 years before a final balloon
payment becomes due.
*	The most recent financial statement reported unrestricted general
fund balance must exceed $167,000 before a purchase contract and loan
agreement are finalized.
*	A 2/3 majority of the LNC must approve the specific terms of the
purchase contract and loan agreement on an up-or-down vote.
*	Additional payments towards the principal loan balance of at least
$60,000 per year above the minimum loan requirement must be made, with this
requirement structured in such a way that future LNC bodies cannot easily
circumvent it.  These payments shall be in the form of an additional $5,000
per month paid out of the general fund, but reimbursable from dedicated
building fund contributions."

 

 

I vote No.

  Scott Lieberman

 

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