[Lnc-business] Added Mortgage Payment

Sun Nov 27 22:04:31 EST 2016

Hi Ken, while I appreciate that, our Policy Manual puts the building
pay-off as a priority.  We can always find an excuse to put that off.  I
will not.  If we are going to expect our government to follow commitments
and shed debt, we must.  The IT infrastructure that exists - existed at the
same time we got the mortgage.  We sold the idea of the mortgage to members
on a certain committement and vision, and I fully intend to keep it.

-- 
*In Liberty,*
*Caryn Ann Harlos*
Region 1 Representative, Libertarian National Committee (Alaska, Arizona,
Colorado, Hawaii, Kansas, Montana, Utah, Wyoming, Washington) - Caryn.Ann.
Harlos at LP.org <Caryn.Ann.Harlos at LP.org>
Communications Director, Libertarian Party of Colorado
<http://www.lpcolorado.org/>
Colorado State Coordinator, Libertarian Party Radical Caucus
<http://www.lpradicalcaucus.org/>

On Sun, Nov 27, 2016 at 7:45 PM, Ken Moellman <ken.moellman at lpky.org> wrote:

>
> All -
>
> While paying off the building faster is a great goal, we may have other
> priorities.
>
> Specifically, we have 12 states without ballot access at this time, and we
> have an IT infrastructure that's from the last century - literally.  These
> things will take money to remedy.
>
> Just something to keep in mind.
>
> ---
>
> Ken C. Moellman, Jr.
> LNC Region 3 Alternate Representative
> LPKY Judicial Committee
>
>
>
> On 2016-11-27 19:42, David Demarest wrote:
>
> Tim,
>
>
>
> Your plan sets a good example of fiscal responsibility for all
> Libertarians. I also support your higher amount.
>
>
>
> Thoughts?
>
>
>
> *The War on Compulsory Authoritarian Majority Rule Cronyism Begins Now*
>
>
>
> ~David Pratt Demarest
>
>
>
> *From:* Lnc-business [mailto:lnc-business-bounces at hq.lp.org] *On Behalf
> Of *Caryn Ann Harlos
> *Sent:* Sunday, November 27, 2016 4:33 PM
> *To:* Tim Hagan <timhagan-tyr at yahoo.com>; Libertarian National Committee
> list <lnc-business at hq.lp.org>
> *Subject:* Re: [Lnc-business] Added Mortgage Payment
>
>
>
> Tim,
>
>
>
> That sounds like the smart plan.  Future Libertarians will thank us.  I
> support your higher amount.
>
>
>
>
>
> --
>
> *In Liberty,*
>
> *Caryn Ann Harlos*
>
> Region 1 Representative, Libertarian National Committee (Alaska, Arizona,
> Colorado, Hawaii, Kansas, Montana, Utah, Wyoming, Washington) - Caryn.Ann.
> Harlos at LP.org <Caryn.Ann.Harlos at LP.org>
>
> Communications Director, Libertarian Party of Colorado
> <http://www.lpcolorado.org/>
>
> Colorado State Coordinator, Libertarian Party Radical Caucus
> <http://www.lpradicalcaucus.org/>
>
>
>
> On Sun, Nov 27, 2016 at 2:50 PM, Tim Hagan <timhagan-tyr at yahoo.com> wrote:
>
> I will call your $150,000 and raise it to $207,500. I request we add 20
> minutes to the December meeting agenda for a motion to make a payment on
> the principal on our office mortgage.
>
> The mortgage's loan rate is 4.85% with a balloon payment at ten years,
> which is in July 24, 2024. Robert was kind enough to furnish the attached
> load amortization spreadsheet. I ran five scenarios on it to get the amount
> of interest we will pay from December 2016 to when the balloon payment is
> due, and to get the amount of the balloon payment that will be due at that
> time.
>
> Without any more prepayments (not paying an extra $60,000 on odd-numbered
> years):
> Interest: $139,400.40
> Balloon payment due 7/24/2024: $301,040.34
>
> With the current policy of paying an extra $60,000 on odd-numbered years:
> Interest: $84,900.77
> Balloon payment due 7/24/2024: $6,540.71
>
> Paying an additional $207,500 in the December payment, and not paying
> extra in future years:
> Interest: $45,751.59
> Balloon payment due 7/24/2024: $0.00
>
>
>
> Paying an additional $150,00 in the December payment, and paying an extra
> $60,000 on odd-numbered years:
> Interest: $32,805.22
> Mortgage gets paid off July 2021.
>
> Paying an additional $207,500 in the December payment, and paying an extra
> $60,000 on odd-numbered years:
> Interest: $19,879.20
> Mortgage gets paid off May 2020.
>
> As you can see, paying $207,500 in December will eliminate having a
> balloon payment in 2024 and will save at least $39k in interest. If we keep
> the Weiner rule, it will save $65k in interest and have the mortgage paid
> off four years early. The targeted Reserve is the sum of all monthly
> occupancy, labor and governance expenses, which comes to $45,292. At the
> end of October, the reserve was at $415,669, so I am comfortable with
> paying $207,500, even if next year's budget has a large deficit. We will
> have new reserve number before the meeting.
>
> The trust from a bequest has $167,404. We have been taking the maximum
> allowable amount out each year for the general fund. A law passed December
> 2014 now allows national political committees to have a separate segregated
> building fund with its own contribution limit of three times the limit for
> the general fund. We have not done this before, because we needed the
> bequest for the general fund, but we can transfer up to $100,200 from the
> bequest to the building fund and use those funds toward making a payment on
> the mortgage principal.
>
> My preference is to pay at least $207,500 toward the mortgage principal to
> save on interest payments and to ensure no balloon payment. If that passes,
> then I would favor reducing the policy to budget an extra $60k on odd years.
>
> Tim Hagan
>
>
> ------------------------------
>
> *From:* Sam Goldstein <goldsteinatlarge at gmail.com>
> *To:* lnc-business at hq.lp.org
> *Sent:* Sunday, November 27, 2016 8:11 AM
> *Subject:* [Lnc-business] Added Mortgage Payment
>
>
>
> I intend to make a motion at our next meeting to spend a good portion of
> our 2016 surplus to make a payment on the principal on our office mortgage.
>
>
>
>
> Not knowing our final numbers at this time lends some uncertainty to that
> number, but I would like to start the bidding at $150,000.  That amount
> ought to leave us in a very favorable position as to our ongoing reserve
> for unforeseen expenses over the next few years.
>
>
>
> Does anyone want to offer a lower/higher amount?  If so, what is your
> reasoning.
>
>
>
> Thanks and
>
>
>
> Live Free,
>
>
>
>
>
> Sam Goldstein
>
> Libertarian National Committee
>
> Member at Large
>
> 8925 N Meridian St, Ste 101
>
> Indianapolis IN 46260
>
> 317-850-0726 Phone
>
> 317-582-1773 Fax
>
>
>
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>
>
> _______________________________________________
> Lnc-business mailing list
> Lnc-business at hq.lp.org
> http://hq.lp.org/mailman/listinfo/lnc-business_hq.lp.org
>
>
>
>
>
> --
>
> *In Liberty,*
>
> *Caryn Ann Harlos*
>
> Region 1 Representative, Libertarian National Committee (Alaska, Arizona,
> Colorado, Hawaii, Kansas, Montana, Utah, Wyoming, Washington) - Caryn.Ann.
> Harlos at LP.org <Caryn.Ann.Harlos at LP.org>
>
> Communications Director, Libertarian Party of Colorado
> <http://www.lpcolorado.org>
>
> Colorado State Coordinator, Libertarian Party Radical Caucus
> <http://www.lpradicalcaucus.org>
>
>
>
>
>
>
>
>
>
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>
>
> _______________________________________________
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> Lnc-business at hq.lp.org
> http://hq.lp.org/mailman/listinfo/lnc-business_hq.lp.org
>
>

-- 
*In Liberty,*
*Caryn Ann Harlos*
Region 1 Representative, Libertarian National Committee (Alaska, Arizona,
Colorado, Hawaii, Kansas, Montana, Utah, Wyoming, Washington) - Caryn.Ann.
Harlos at LP.org <Caryn.Ann.Harlos at LP.org>
Communications Director, Libertarian Party of Colorado
<http://www.lpcolorado.org>
Colorado State Coordinator, Libertarian Party Radical Caucus
<http://www.lpradicalcaucus.org>
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