Minutes from July 18, 2017 Board Meeting

Telluride Arts Board Meeting

July 18,2107

Present

Julya

Bob

Todd

Warren

Meaghann

Penelope

Kate

5:05 pm Welcome

5:12 pm Financials

We are in good shape but we have a payment of $100,000 due soon. So our finances may get a little tighter.

Also we have note due to Doug Tueller

Todd points out that looking at a “normal” P & L is challenging with the big Warehouse project.

P & L

Todd says pledges are coming in. We should be enthusiastic about it.

Warehouse Budget

We are in Phase 3

Everything with check marks are a done deal

Ernest payment is triggered when they start working on the warehouse, which is a moving target.

As of now, walls have been wrapped with protective wrap, structural stabilization. First challenge is removal of old vault inside and starting work on masonry rehabilitation.

Ernest money trigger probably in a month.

We have to modify what Merriweather has to do.

Phase 2 = credit for balance of construction.

Phase 3 is actual final construction.

Restoration of building is very important component.

All the architect finalists proposed dropping a box within the box which preserves the historic walls.

“Warm dark shell”

We are on good legal standing and the TOT is behind this.

What’s it going to cost them to restore the shell?

Phase 3

Need to confirm/collect Donations of $400,000

Architecture fees $300,000 is low.

Construction Expense = $15M estimate is from LTL

Todd discusses the “Town of Telluride option”

Todd speaks of the concept of the option of the TOT to purchase, as part of TOT budget process.  So far everything is positive. But, big election this Fall.

Phase 4 Balance of the Purchase is the first priority.

Have to go through P & Z for PUD adjustment.

Board – continue to help with donors, go to all events, talk with folks.

Cudos to Bob for helping with HACR, Landmark Status application, helping with the PUD process.

Mostly need help with raisiing $400,000.

More folks have volunteered or the Warehouse Advisory Committee

StevenGluckstern,        Chair

Doug     Tueller

Chris     Chaffin

Eric       Cummings

(

Jodie     Wri

5:42 pm A & A

discussion about staffing/

result = below standard. Lost some curatorial strength, weaker selection of houses, pairing of food, music, art with architecture.

Architects have more work than they can handle.

Adding mountain village may upthe ante.

Kate is thinking we could have year round person with other events to increase event.

PG suggests considering a contractor. Meaghann suggests a base salary with percentage of growth.

Articulate the idea of a arts district, connect with people we are not yet connected with.

Warren says he had feedback that we could have more art. Discussion about real estate for sale being too obvious.

Warehouse + Fundraising

Work Flow & Targets

We have to pay attention to the community involvement development

Discussion re staffing needs. Hiring Amy to help with administration, especially donor communications.

Staffing is within the budget.

All the workflow for the Warehouse is new for the organization.

Review of 2017 budget vs actual

Phase 3 = restoration & conservation$500,000

“Early stage investor in this project”

Vanguard group are all asked to give $100.000

LtL will come back for HARC work session mtg TBA in August. Mid-August. Donor party, design charetts…

Arts Districts events

artWalks

Holiday Bazzare

Would like to do small gatherings at the warehouse

Discussion re Board development

Julya suggests asking Kelly for assistance

Discussion re strategic plan

Bring in warehouse group for cross fertilization

How does warehouse integrate with the arts district