TheLower Merion Historical Society

Executive Board Meeting

November 10, 2009

The Lower Merion Academy

Present: Jerry Francis, Dennis Montagna, Denise H. Francis, Barbara C. McElroy, Max Buten, Andrew Amsterdam, Ross Lance Mitchell, Bruce D. Reed, John B. Hagner, Edmund L. Goldsborough, Anna O'Hora, Stephen P. Selinger, Alison B. Graham, Leon Levine, Joanne Murray, Sarah E. Francis and Philip Eidelson. Note: this represented the membership of the entire Executive Board; there were no Board Members absent at this meeting.

There was a correction to the September 17, 2009 Minutes. Under the Education Report, Ted Goldsborough made the following update: “Ted attended the Sept 12 Friends of Autocar Luncheon at the West Goshen Fire Hall in West Chester, taking Frank Weer, LM '52, and 103 year old Mrs. Fran Flaherty in his 1938 Ford.  On behalf of the society, Ted displayed some Autocar ads from the 1930's the Society bought from a woman going out of business in Maine.”  The Minutes of the September 17, 2009 meeting were then approved with Ted’s amendment. The Minutes of the October 1, 2009 meeting were approved as written.

Cynwyd Train Station

Jerry briefly reviewed the past reports listed in the agenda, but focused on the new reports. 

·     Broadlands Financial Group Report by Christopher Russell.  A copy of this report was distributed and Jerry described the quality of the work done by Stumpo Construction.

·      Stumpo Construction Report by Ned Stumpo. A copy of this report, along with a report on Soft Dollars and our Green Initiative, was distributed. Ned’s report was divided in four sections: Winterization / Certificate of Occupancy / Tenant Fit Out / Outside Details. Each section listed the project and its associated dollar amount.

·      Financial Report and Analysis by Jerry Francis was distributed and discussed. The issue is whether the Society should continue with construction and get the Certificate of Occupancy or suspend construction until the necessary funding is in place.

·     Capital Campaign Proposal by Steve Selinger was distributed and discussed. The main question to the Board was whether everyone would support starting a Capital Campaign. This idea was unanimously approved by a show of hands. 

·      Board Discussion:  At our last Board meeting (October 1, 2009) the Board approved the floating the necessary funds for the winterization of the station that included the installation of roofing shingles, the second floor windows and a primer coat of paint on the exterior of the building. Also, it was determined that we have to proceed with the installation of the fire suppression system. Based on Ned’s report, the cost of Winterization is $89,280. The question is whether the board would like to continue the project to get the station to the point where the Certificate of Occupancy (CO) can be acquired, for an additional cost of $91,565 with a possible small reserve for contingencies.

Andy Amsterdam made the motion that we should withdraw the necessary funds from our savings account in order to complete the stage where a Certificate of Occupancy can be acquired. Dennis Montagna requested that we include the brick cleaning and re-pointing in our motion. Leon Levine restated the motion by amending it to say that the Board approved an amount not to exceed $100,000. Joanne Murray made a second and there was a unanimous vote by the Executive Board for its approval.

The meeting adjourned at 9:15pm.

The next scheduled Executive Board Meeting is Thursday, January 21, 2010 at 7:30pm at the Lower Merion Academy.

Respectfully Submitted by Joanne Murray