[Lnc-business] Added Mortgage Payment

Tue Nov 29 13:47:19 EST 2016

While would like to have a mortgage balance of zero, I think added mortgage payments are something that should be considered AFTER we decide what needs to be funded in 2017.

There is going to be a proposal forthcoming from the LP of Ohio for a petition drive in 2017 to regain party status in Ohio.  While I want to see the details of the proposal from the LPOH before I decide how I would vote on such a motion, I am predisposed to support such a motion.  We need to try to maintain party status by earning 3% of the vote for Governor in Ohio in 2018, and I think it is very important that the LP respond to the bully boy tactics of the Republican Party of Ohio that got us kicked off the ballot.  I am urging the LPOH to put a lot of skin in on this drive, and, to that end, being a native Ohioan, I have assumed personal responsibility for 750 gross signatures.  (About 53,000 valid signatures will be needed.)  I gathered about 100 sigs over Thanksgiving weekend and will do more over Christmas vacation.  I will pay for what I don't gather.

I also intend to ask the LNC to authorize the Chairman to enter into a loan agreement of up to $25,000 with a potential Governor campaign in Virginia in 2017 to fund a paid petition drive, with repayment from the Campaign of 50% of funds raised until repayment in full has been made.  I think it is highly likely that the LNC would be fully repaid.  Even if I make such a motion, I will abstain on the vote, being from Virginia.

I think it is important to keep our occupancy costs in perspective.  We were paying rent of over $10,000 per month at the Watergate.  Our monthly mortgage payment is now about $3,000.  We have done a great job reducing occupancy costs, regardless of how much more principal prepayment we do.

Bill Redpath

--------------------------------------------
On Tue, 11/29/16, Caryn Ann Harlos <carynannharlos at gmail.com> wrote:

 Subject: Re: [Lnc-business] Added Mortgage Payment
 To: "ken.moellman at lpky.org" <ken.moellman at lpky.org>
 Cc: "Libertarian National Committee list" <lnc-business at hq.lp.org>
 Date: Tuesday, November 29, 2016, 1:23 PM

 Ken, I
 have been doing some thinking, and while I am not saying I
 support what I am about to say, I don't oppose it, and
 IF there is some compromise position (though with all due
 respect - when you say to satisfy the desires of some LNC
 members - you so far have been the only dissenting voice and
 are an alternate - we do not yet know what your regional
 representative thinks on the issue), using round numbers,
 this one:
 We shorted 2015 by
 about 40K. We have about 105K that we can take
 from the bequest that would not otherwise be
 accessible.
 That puts
 us at roughly 145K which would be satisfying our prior
 obligation AND accessing money that is not coming from any
 other line item next year (thus not shorting any other
 project).
 So we were
 proposing paying another 55K.  If we did that, we could not
 make any further Wiener rule payments and still pay off
 early with no balloon.
 We could allot this 55K, not as an
 extra "payment" but as the 2017 Wiener rule
 payment which we *already have to pay* if we are going to be
 compliant.   And we would be making an extra payment this
 year - only it is coming out of the bequest.  So
 that is a 205K payment in 2017 which does not take away from
 anything else in extra payment.  And we would still be
 committed to the Wiener rule payment in 2019.
 This is basically getting back to
 Sam's original proposal of $150K.  That is the minimum
 I would accept in light of this information.  We are
 obligation to do a 60K payment in 2017 - what is at issue is
 whether we do an "additional" 60K payment.  But
 we could even perhaps do that - depending on how the bequest
 rules are- we could make the 105K building fund this year
 and exhaust the Bequest in the next year and use that
 generous donor's money to get us more quickly out of
 this.  AND still fund-raise to make additional
 payments.
 And this
 does not keep us from having funds for other
 projects.
 I am not
 saying this is what I support but this is a reasonable
 path.
 -- 
 In
 Liberty,Caryn Ann
 HarlosRegion 1
 Representative, Libertarian National Committee (Alaska, Arizona, Colorado,
 Hawaii, Kansas, Montana, Utah, Wyoming, Washington) - Caryn.Ann.
 Harlos at LP.orgCommunications Director, Libertarian Party of
 ColoradoColorado State Coordinator, Libertarian Party
 Radical Caucus

 On Mon, Nov 28, 2016 at
 9:25 PM, Caryn Ann Harlos <carynannharlos at gmail.com>
 wrote:
 If people were looking for that amortization
 worksheet Daniel Wiener referenced, I dug it out of the LNC
 archives and attach it here.  
 -- 
 In
 Liberty,Caryn Ann
 HarlosRegion 1
 Representative, Libertarian National Committee (Alaska, Arizona, Colorado,
 Hawaii, Kansas, Montana, Utah, Wyoming, Washington) - Caryn.Ann.
 Harlos at LP.orgCommunications Director, Libertarian Party of
 ColoradoColorado State Coordinator, Libertarian Party
 Radical
 Caucus
 On Mon, Nov 28, 2016 at
 8:02 AM, Caryn Ann Harlos <carynannharlos at gmail.com>
 wrote:
 I have
 stated my position.  And assuming no earth-shattering new
 information or argument, how I intend to vote.  Rationale
 already given.  I have other motions and items that require
 my present attention.
 On Monday, November 28, 2016, Ken Moellman
 <ken.moellman at lpky.org>
 wrote:

 Our Policy Manual also encourages specific fundraising
 for that purpose, in the same section that creates the
 minimums and creates priority.  

 "It shall be the goal of the LNC to completely pay
 off the office mortgage as quickly as possible, and in any
 case prior to the due date of the 10-year balloon payment.
 Towards that end the LNC shall budget a minimum of $60,000
 in each odd-numbered year to pay down the principal until
 the mortgage balance is zero. Fundraising for
 this specific purpose shall be made a high
 priority. This provision does not preclude
 additional fundraising and
 prepayments in even-numbered years. " (emphasis
 added)

 The Policy Manual specifically requires that we give
 high priority to raising money specifically to pay off the
 building.  Have we done so this year? Do we have a plan to
 do so next year?  

 The particular section specifically mentions specific
 fundraising twice. While I think it is a reasonable
 assumption, based on the wording in the manual, that a
 1-for-1 match would be sufficient, I proposed a 2-for-1
 because I do think it's important to pay down the
 mortgage and felt it might be an acceptable
 compromise.

 If we can create some priority - staff should exist -
 then we've already established that there's a
 balance to be struck.  With that established, I believe
 that we can best comply with the Policy Manual and with the
 desires of multiple LNC members by having the 2-for-1
 matching scenario.

 And if the membership wants this to be a high-priority
 project, then certainly they would put their money
 specifically toward that effort, would they not?

 ---

 Ken C. Moellman, Jr.
 LNC Region 3
 Alternate Representative
 LPKY Judicial
 Committee

 On 2016-11-28 09:10, Caryn Ann Harlos wrote:

 No it doesn't.  We have the 100K from the bequest
 that isn't part of our fundraising windfall.  We have
 the deficit from the last payment to catch up- putting us st
 around 150K.  Our policy manual - urges us- on our own- to
 get ahead.  Putting the extra amount ahead is what is
 reasonable and what I will be supporting.

 No one has suggested there is not money for other
 things and this insures saved money for other things.  We
 can do a fundraiser next year with our fiscally responsible
 choice in Dec as a selling point centerpiece.

 -- 

 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
 Communications Director, Libertarian Party of
 Colorado
 Colorado
 State Coordinator, Libertarian Party
 Radical Caucus

 -- 

 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
 Communications Director, Libertarian Party of
 Colorado
 Colorado
 State Coordinator, Libertarian Party
 Radical Caucus

 On Monday, November 28, 2016, Ken
 Moellman <ken.moellman at lpky.org> wrote:

 I guess it depends on who your target audience is. 
 When I walk into a shop and their IT infrastructure is a
 decade old, my immediate thought is that the company
 doesn't have their priorities in order.  Certainly,
 I'm biased in that regard.  Smaller manufacturing
 businesses are notorious from being way out of date.

 The Democratic Party provides websites for their
 candidates for a nominal fee. Why?  Because that way
 campaigns can focus on issues and real politicking, not
 spending excessive amounts of time on back-office work.
 They're out knocking on doors and building their
 base.

 The Republican Party, through the Kochs, is building a
 massive database of voters for their Big Data project.
 Why?  Because that way they know what issues drive voters.
 They can micro-target messaging, making their outreach and
 GOTV more efficient.

 The Libertarian Party currently has a mailing list that
 sends everything to a Google list so that people can
 subscribe to the Google list to watch.

 If we are to appeal to the Millenial generation, we
 can't be running on a 286 in a basement.  Once upon a
 time, the LP was ahead of the game when it came to
 technology.  We have stagnated and let our competition
 overtake us. If our primary political opponents are crushing
 us on the phones and at the door, how do we ever expect to
 win?

 When I became chair of LPKY in 2007, we had no IT
 infrastructure. We had a website that was put in place by
 the previous chair, that cost too much money, was poorly
 organized, and didn't do the job.  Thankfully, the
 situation isn't exactly parallel - while there are
 problems, we don't have to start over from scratch. But
 it will take time and investment to get the website to where
 it needs to be. That will happen.  Likewise, other parts of
 our operation need to have similar focus. 

 I'm all about paying down debt. I absolutely love
 it, conceptually. I just don't want to see us cripple
 the party in 2017 in order to achieve the goal of paying off
 that debt.  

 So here's what I'd propose, if we want to put
 over $200K toward the mortgage. Let's do a 2-for-1
 donation match. We put $60K in the budget, as
 required. Subtracted from the proposed $207,500, that
 leaves $147,500. For ease of numbers, let's round that
 up to $50,000.  So, if we can raise $50,000 specifically
 for paying off the building, we will put $100,000 as the
 match.  Let's let our membership determine the
 projects on which they want us to spend the money.  

 Does that seem reasonable? 

 ---

 Ken C. Moellman, Jr.
 LNC Region 3
 Alternate Representative
 LPKY Judicial
 Committee

 On 2016-11-28 08:31, Caryn Ann Harlos wrote:

 I would further note- if we make this payment now and
 make NO additional payments (which I do not support) because
 the 60k is needed next year (odd numbered year) - we will
 have freed future Libertarians from the balloon payment AND
 an amount in interest that would pay a good chunk of a
 ballot access drive.  In every scenario, this is the right
 choice.  And we would have only two more policy manual
 extra payments - 2017 and 2019- and the mortgage would be
 paid in full just by the 2020 election- a fantastic example
 for others.  We will have set up the next LNC for
 success.

 And our fiscal responsibility can be used in our new
 member retention program as they can trust we are wise with
 funds.

 -- 

 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
 Communications Director, Libertarian Party of
 Colorado
 Colorado
 State Coordinator, Libertarian Party
 Radical Caucus

 On Monday, November 28, 2016, Caryn Ann
 Harlos <carynannharlos at gmail.com> wrote:

 There
 is no proposal to spend "all" of the discretionary
 monies.

 And Hagan pointed out this is a way we can have access
 to the bulk of a bequest that the donor certainly wished we
 had access to.

 The bequest money isn't available in that amount
 now for this OR that.  It is available for this.

 Hagan's last option is the most prudent and responsible
 and does not require anything like an "all"
 scenario and doesn't burden the next decade of
 Libertarians with interest that the policy manual urged us
 to avoid in making more than the 60K extra- and here with
 the bequest we have the opportunity to access over 100K and
 have an unexpected windfall in new members.

 If any other priority is given as well - new member
 retention must be up there as mentioned in emails leading up
 to the Sept meeting.

 As for the website - well members were
 told that in 2006 too, and that data is still
 waiting. 

 -- 

 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
 Communications Director, Libertarian Party of
 Colorado
 Colorado
 State Coordinator, Libertarian Party
 Radical Caucus

 On Monday, November 28, 2016, Ken
 Moellman <ken.moellman at lpky.org> wrote:

 My goal isn't to pull something over on people. 
 If nothing else, know that I am open with my personal
 thoughts on matters -- as you may have noticed -- and
 I'm not trying to hide anything. I'm a Libertarian;
 I don't believe in using force or fraud.

 There are other IT issues beyond the website that I
 dare not mention on a public list; things that range from
 embarrassing to disabling. I'll be more than happy to
 discuss these issues in person in December. 

 The new IT committee is taking over from a previous
 committee with an entirely different personnel makeup.  The
 new IT Committee, such as it exists at the moment, is far
 from ignoring the calls for repairs and changes to the
 website. This is a priority of everyone involved.  This is
 currently being done under staff direction, and they are
 working on it.  The website continues to be populated with
 important information, and will continue to evolve and have
 more information added/returned, in addition to other
 important website changes. (Ironically, I was trying to find
 out exactly when the building was purchased and couldn't
 because that information wasn't brought over. Heh.)  In
 sum, the website will get fixed to the best of our
 ability. 

 But if all the discretionary income gets spent on the
 mortgage (which is not the worst way to spend it) then there
 won't be an opportunity to get other fixes in place. 
 And that's just IT.  I know there are Ballot Access
 drives in our future in 2017 - Arkansas and Ohio,
 specifically - and those won't be cheap.  Arkansas will
 be about $37,500 and Ohio will be about $255,000, based on
 2016 validity rates and assuming no volunteer signatures or
 other sources of funding (which there will be, of
 course).

 In my opinion, we need to really leverage 2016 to get a
 record-breaking amount of fundraising in the
 "after-year".  

 ---

 Ken C. Moellman, Jr.
 LNC Region 3
 Alternate Representative
 LPKY Judicial
 Committee

 On 2016-11-27 23:26, Caryn Ann Harlos wrote:

 Now that wasn't the entirety of my
 argument, but I am not getting into another LNC spitting
 match.  Interested members and readers can go through my
 comments and see what I said- the policy manual was a big
 part, but a part and not the entirety.  It is indeed less
 out of date then than now.  And something obviously know as
 the passage of time and aging is a known quantity.  As is
 debt and interest, something Libertarians are supposed to
 model fiscal responsibilities for.  And having not
 transferred 83% of our data certainly will look to our
 members like throwing good money after bad.  

 This is selling the members a bill of goods.  Just
 like they are suspecting on the website data loss.  We have
 not inspired confidence, and I am not about to vote to
 further sell our word down the river.  The ludicruousness
 of the proposition that a reading would mean to fire staff
 if my reading that surpluses need to be given priority there
 is as self-evident to me as the idea that we also do not
 need to sell ourselves into slavery as committee persons. 
 If it is not self-evident, then the sky is a different
 colour in my world.

 With the data loss (more accurately lack of transfer -
 and there is still a folfer of files from the 2006 site that
 were supposed to be restored and not) and what I and enough
 others see as mismanagement of the website transfer, if I
 were an affiliate, I would not be entrusting my
 affiliate's email to a natonal-provided service. 
 Let's get the website straightened out and then perhaps
 other investments will be in order.  

 And certainly that is not a bigger priority than
 already incurred debt.  There is ALWAYS something great to
 spend money on.  We are selling the efforts of future
 Libertarians just like our country is selling the future of
 today's children.  No.  I will not do that.  If we
 can't elimiante our own debt we have zero business
 thinking we can tell others that is how they have to live.

 -- 

 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
 Communications
 Director, Libertarian Party of
 Colorado
 Colorado State
 Coordinator, Libertarian Party
 Radical Caucus

 On Sun, Nov 27, 2016
 at 9:13 PM, Ken Moellman <ken.moellman at lpky.org> wrote:

 My contention is that there may be other priorities upon
 which a portion of the proposed $207,500 spending on the
 office mortgage should be spent. I included the examples of
 Ballot Access and IT Infrastructure.
 Your contention is that the priority must be given to
 the paying off of the mortgage, because the Policy Manual
 says so.

 The Policy Manual states in Section 2.03.17:

 "It shall be the goal of the LNC to completely pay
 off the office mortgage as quickly as
 possible, and in any case prior to the
 due date of the 10-year balloon payment. Towards that end
 the LNC shall budget a minimum of $60,000 in each
 odd-numbered year to pay down the principal until the
 mortgage balance is zero. Fundraising for this specific
 purpose shall be made a high priority. This provision does
 not preclude additional fundraising and prepayments in
 even-numbered years. "  (emphasis added)

 The portion of the policy manual highlighted above
 seems to be that to which you reference when you made your
 statement.

 Additionally, you state that you are unwilling to give
 higher priority to the IT Infrastructure, stating that the
 infrastructure was a decade old when the building was
 purchased.

 First, the infrastructure was less out-of-date than it
 is now. It continues to get further and further out of
 date.  We continue to use hacks and other non-standard
 practices to accomplish goals with the existing
 infrastructure, rather than upgrade.  There is a real cost
 to this.  LPedia's decay is an easy example of what
 happens when things don't get upgraded - upgrading
 MediaWiki to a newer version is incredibly painful at this
 point.

 Second, IT infrastructure upgrades would actually make
 staff and affiliate parties more productive. Imagine if LP
 National could, as part of a broader upgrade, provide basic
 services to affiliate parties such as email services.
 Instead of 52 organizations all trying to figure out how to
 manage email, we could upgrade National's email
 infrastructure and provide email services to all 51
 affiliates. 

 Third, there are real security issues that do need to
 be addressed.  There are security patches released almost
 every single day. We're approximately 3000 days behind
 on security patches on a few pieces of our
 infrastructure. 

 Now, if we are to forgo some projects with clear
 benefits, like IT Infrastructure improvements, because the
 Policy Manual tells us we must pay down the mortgage before
 all other things, then what is ludicrous with suggesting
 using the staff budget for further paying down the
 mortgage?

 Certainly, I think it's a bad idea.  But I also
 think foregoing other important tasks in favor of paying
 down the mortgage is also a bad idea.

 That's just my $0.02 on the matter.

 ---

 Ken C. Moellman, Jr.
 LNC Region 3
 Alternate Representative
 LPKY Judicial
 Committee

 On 2016-11-27 22:35, Caryn Ann Harlos wrote:

 No frankly that is a ludicrous
 interpretation. And paying any more interest that we have to
 in member money (OPM) is even moreso.  This is why members
 view this body with distrust.

 -- 

 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
 Communications
 Director, Libertarian Party of
 Colorado
 Colorado State
 Coordinator, Libertarian Party
 Radical Caucus

 On Sun, Nov 27, 2016
 at 8:22 PM, Ken Moellman <ken.moellman at lpky.org> wrote:

 I'm just pointing out that there are other items
 that also need attention.  As an alternate, I probably
 won't get a vote anyway.

 If we are to take the strictest interpretation of
 2.03.17, we should lay off all of the staff and put their
 salaries toward the building debt as well. However, I would
 suggest that doing so would be a foolish approach.

 Putting off IT infrastructure upgrades is only going to
 make the inevitable more painful in the long-term.

 ---

 Ken C. Moellman, Jr.
 LNC Region 3
 Alternate Representative
 LPKY Judicial
 Committee

 On 2016-11-27 22:06, Caryn Ann Harlos wrote:

 Further the bequest rules make it a
 no-brainer in my view.

 -- 

 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
 Communications
 Director, Libertarian Party of
 Colorado

 Colorado State
 Coordinator, Libertarian Party
 Radical Caucus

 On Sun, Nov 27, 2016
 at 8:04 PM, Caryn Ann Harlos <carynannharlos at gmail.com>
 wrote:

 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
 Communications
 Director, Libertarian Party of
 Colorado
 Colorado State
 Coordinator, Libertarian Party
 Radical Caucus

 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 h q.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

 Communications Director, Libertarian Party of
 Colorado

 Colorado State Coordinator, Libertarian Party
 Radical Caucus

 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

 ______________________________
 _________________
 Lnc-business mailing
 list
 Lnc-business at hq.lp.org
 http://hq.lp.org/mailman/listi
 nfo/lnc-business_hq.lp.org

 ______________________________
 _________________
 Lnc-business mailing
 list
 Lnc-business at hq.lp.org
 http://hq.lp.org/mailman/listi
 nfo/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

 Communications Director, Libertarian Party of
 Colorado

 Colorado State Coordinator, Libertarian Party
 Radical Caucus

 ______________________________
 _________________
  Lnc-business mailing
 list
  Lnc-business at hq.lp.org
  http://hq.lp.org/mailman/listi
 nfo/lnc-business_hq.lp.org

 ______________________________
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  Lnc-business at hq.lp.org
  http://hq.lp.org/mailman/listi
 nfo/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
 Communications
 Director, Libertarian Party of
 Colorado
 Colorado State
 Coordinator, Libertarian Party
 Radical Caucus

 -- 

 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
 Communications
 Director, Libertarian Party of
 Colorado
 Colorado State
 Coordinator, Libertarian Party
 Radical Caucus

 -- 

 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
 Communications
 Director, Libertarian Party of
 Colorado
 Colorado State
 Coordinator, Libertarian Party
 Radical Caucus

 -- 

 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
 Communications
 Director, Libertarian Party of
 Colorado
 Colorado State
 Coordinator, Libertarian Party
 Radical Caucus

 -- 

 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
 Communications
 Director, Libertarian Party of
 Colorado
 Colorado State
 Coordinator, Libertarian Party
 Radical Caucus

 -- 

 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
 Communications
 Director, Libertarian Party of
 Colorado
 Colorado State
 Coordinator, Libertarian Party
 Radical Caucus

 -- 

 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
 Communications
 Director, Libertarian Party of
 Colorado
 Colorado State
 Coordinator, Libertarian Party
 Radical Caucus

 -- 
 In
 Liberty,Caryn Ann
 HarlosRegion 1
 Representative, Libertarian National Committee (Alaska, Arizona, Colorado,
 Hawaii, Kansas, Montana, Utah, Wyoming, Washington) - Caryn.Ann.
 Harlos at LP.orgCommunications Director, Libertarian Party of
 ColoradoColorado State Coordinator, Libertarian Party
 Radical Caucus

 -- 
 In
 Liberty,Caryn Ann
 HarlosRegion 1
 Representative, Libertarian National Committee (Alaska, Arizona, Colorado,
 Hawaii, Kansas, Montana, Utah, Wyoming, Washington) - Caryn.Ann.
 Harlos at LP.orgCommunications Director, Libertarian Party of
 ColoradoColorado State Coordinator, Libertarian Party
 Radical Caucus

 -- 
 In
 Liberty,Caryn Ann
 HarlosRegion 1
 Representative, Libertarian National Committee (Alaska, Arizona, Colorado,
 Hawaii, Kansas, Montana, Utah, Wyoming, Washington) - Caryn.Ann.
 Harlos at LP.orgCommunications Director, Libertarian Party of
 ColoradoColorado State Coordinator, Libertarian Party
 Radical Caucus

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