Emmanuel Episcopal Church

April 15, 2009

Present:  Father Robert Salamone, John Becker, Anne Brightwell, Phillip Cofer, Dee Forester, Matthew Hicks, Chuck Galis, Marty Kemp, Naomi Norman

Absent:  Father Edwin Beckham, Joe Clements, Curt Collier, Erwin Greene, Vince Howard, Matt Humphrey, Nancy McDuff, Lisa Yarn

The meeting was called to order by Senior Warden Naomi Norman at 6:55 pm.

Naomi explained that the special called meeting was necessary to satisfy the legal requirements concerning the lease and gift deed to CASA (Court Appointed Special Advocates) for the second cottage on Pope Street.  She and Emmanuel’s attorney, Darrel Begnaud, have met with Christian Orobello, director of CASA, and their attorney, Rusty Quarterman, to work out the details of the lease.

Naomi informed the Vestry that:

1.      The arrangement with CASA would include a deed of gift to CASA of the cottage for their exclusive use within their mission statement and the charitable purposes for which CASA was founded.

2.      The lease is a ground lease for ninety-nine (99) years at $1/year. The lease includes a buy-back option for Emmanuel if CASA vacates the property. The Purchase Option Price (POP) shall be equal to the lesser of:

a.       Ninety (90%) percent of the current appraised value of the Improvements (i.e., the cottage), or

b.      CASA’s documented and agreed-upon Rehab Costs plus a percentage of the Rehab Costs (as calculated below and based on the length of time that CASA occupies the cottage).

(i)                 Up to 4 years                                       0%

(ii)               More than 4 years to 9 years               10%

(iii)             More than 9 years to 12 years             15%

(iv)             More than 12 years to 15 years           25%

(v)               More than 15 years                             30%

The agreement specifies that:

1.      Emmanuel has the right to sign off on the rehab plans for the cottage by CASA.

2.      CASA must obtain all needed permits for the construction.

3.      CASA will estimate the amount of the rehab costs.

4.      CASA is responsible for the upkeep, utilities, taxes, etc.

Motion:

John Becker moved to approve the contract for the lease and gift deed in the form described in the discussion, considering all three points together:

1.      The lease and gift deed may be signed by the senior warden.

2.      The Vestry is authorized to enter into these agreements.

3.      The senior warden is authorized to agree to any minor changes presented at the signing without returning to the Vestry for approval.

The motion was approved by all present.

The meeting was adjourned.

Submitted by Lee Albright, Clerk of the Vestry

Approved by:  John Becker, Anne Brightwell, Phillip Cofer, Dee Forester, Chuck Galis, Matthew Hicks, Marty Kemp, Naomi Norman