Vote To Create Building Fund
Sponsors
- Andrew Wingate
- Jennie Plasterer
- Lyn Cole
- CrazyUncleDave
History
- Mailing List Announcement: 8-27-24
- Officially Proposed:
- To be Voted on:
Background
We have 18 months remaining on our lease. Our landlord is not interested in renewing it. He has offered us the opportunity to purchase. The asking price is $1.3 million. Negotiations are ongoing.
We believe purchasing the building is the best option to continue PS1's existence. The landlord is generously willing to owner finance the building for a period of 3 years, with a down payment of 20% ($260k).
Our goal is to raise $300k for down payment and related expenses. Realizing this objective will require dedication and mindfulness. Our current financial trajectory will not accomplish this goal; change is necessary.
- Member dues will need to be raised.
- Member votes will need to be considered carefully.
- Extraneous spending in areas will need to be reduced.
We propose authorizing the Treasury Team to direct $15k a month to a Building Fund designed to position us for building purchase, moving expenses, or whatever other solution we can devise in the coming months.
Language
The membership authorizes the Treasury Team create and direct $15K a month into the Building Fund. The Building Fund is designed be spent on building purchases and building-related expenses. A vote of the membership or board of directors can undo this.