The NDC Special membership Meeting came to order at 7:35pm, was
chaired by Bill Jones, and resulted in the following:
- Peter May outlined the details of the financial situation ($92K in
loans; $30K in outstanding bills); Joel Moodie (cafe manager) gave his
vision/business plan for the cafe’s future.
- The Board has completed financial projections to accompany an
updated business plan (written by Joel).
- Members voted to not to close the cafe permanently on September 30th.
- Members made over $15K in pledges to loan the cafe money.
- The Board will apply to the National Consumer Bank (NCB) for a renovation loan this week.
- Members voted to reduce payroll costs by limiting hours to 40 hours per week, subject to management discretion,
and by supplying volunteers (one four (4) hour shift per member per month) to assist paid staff. In
return, members will receive a 10% discount the following month. The limited hours will be in effect until four (4)
consecutive months of positive financial operations occur.
- Individuals were encouraged to contribute tax-deductible donations
to FONDCA’s Arts & Music fund which will be applied to cafe rent and
utilities and free up monies for other cafe expenses.
- The members tabled the proposal to form a shareholder corporation and sell shares.
The meeting adjourned at 10:30pm.
Submitted by Bill Wilkerson, Secretary.