DOWNTOWN STUDENT FACILITY TRUST 10 June 2003 MINUTES OF THE SEVENTH MEETING OF DOWNTOWN STUDENT TRUST held on 10 June 2003 at 5pm at Peter Robinson College, at a picnic table adjacent to the entrance to Squash Court Hall, Trent U, Peterborough, Ontario. P R E S E N T: Marisa Barnhart. Dwayne Collins, Catherine Dickinson, Chris Mather, John K Muir & Matthew Naylor R E G R E T S: Fraser Smith Also Present: Scott Douglas Notice of this Meeting having been made to all the Trustees, and quorum of the Trustees being present in person, the Meeting was declared duly constituted and called to order at 5:10 p.m., with Catherine Dickinson acting as Chair and John Muir acting as Secretary. Chair's Opening Comments: The Chair welcomed the those gathered at the Meeting. An agenda was agreed upon and discussion followed. The minutes of the previous Trustees' Meeting were presented. UPON A MOTION duly made seconded and carried unanimously the Minutes of the Trust held on 23 May 2003 were approved. Business Arising: Concerning the offer of purchase approved on 13 April 03, and, a) amended by the Trust on 07 May 2003, and, b) a subsequent memorandum from the vendor presented and discussed at a Meeting of the Trust on 23 May 2003, with a revised companion summary schedule of estimated annual receipts and disbursements for each of the first seven years of operation also presented reflecting the some of the elements contained in the vendor's memorandum, and, c) a further memorandum prepared on behalf of the Trust by Richard Taylor following the last Meeting of 23 May 2003 and presented to the vendor, there was a recital of events since the last Meeting of the Trust, including a letter written to Kevin Duguay of the City of Peterborough Planning Staff (see attached) and the proposed amendments made by the vendor to the most recent memorandum were presented. Information was shared and discussion followed. It was noted that the vendor's proposals had achieved positive opinion from the Trust's legal counsel. It was noted at this time that should the Trust agree to the vendor's proposals, a further $5,000 deposit was required. It was agreed that financing for this amount would found from among the Trustees, and that the simple of interest of 3% be paid on this amount, payable along with the principle on or before 30 September 2003. During this time Matthew Naylor left the Meeting to attend to another commitment, and then sometime later, as it began to rain, Dwayne Collins reported he was required to attend another commitment. It was noted at this time that Mr. Collins will attend to Richard Taylor's office (306 Stewart Street, just south of Charlotte) as soon as is convenient to sign the Trust agreement, and that Mr. Collins will set up a meeting with Garth Brownscombe (TrentU Director of Finance) to be held during the first week of July 2003. Attending will be Dwayne Collins, Catherine Dickinson, John Muir & Richard Taylor. At this time Dwayne Collins left the meeting and the Trust reconvened under the shelter of the Trent Radio House porch. Discussion continued on the matter of the offer to purchase. UPON A MOTION duly made, seconded, and carried unanimously, the Trust approved acceptance of the amendments made by the vendor to the memorandum prepared on behalf of the Trust and dated 27 May 2003, and has thereby reached an agreement with the vendor. It was noted that the Chair, Catherine Dickinson, is authorised to sign a new offer of purchase, to be drafted by Scott Douglas and reviewed by Richard Taylor, according to the original offer of 13 April 2003 and the series of memoranda subsequently sent and received. It is anticipated that the new offer will be ready to be submitted early in the week commencing 16 June 03. A cheque in the amount of $5,000 is to be submitted with the offer, increasing the deposit to $10,000. It is understood that the vendor may treat or modify the proposed offer for the consideration of the Trust. If in the opinion of Mr. Taylor, there are substantial changes in terms or differences then the Trust will be reconvened by the Chair to discuss the situation. If there are no substantial changes, Ms. Dickinson is authorised to accept the signed back offer, and to communicate that this has been done to the other members of the Trust. UPON A MOTION duly made, seconded, and carried unanimously, the Trust approved the allocation of $80 for registration fees for two Trust members to attend a grant writing workshop being held by the Peterborough Social Planning Council on 23 June 03. Catherine Dickinson will make the arrangements and report back on this an the next Meeting. It was noted that three committees or working groups will be set up as follows; Publicity and Web Construction - Marisa Barnhart & Matthew Naylor Fundraising - Catherine Dickinson & John Muir Local Business Liaison - Chris Mather Facility Manager Job Description - John Muir The next meeting of the Trust was set for Wednesday, 09 July 03 at 5pm at a location to be determined. There being no further business the meeting adjourned. ____________________________ ______________________ Catherine Dickinson, Chair JK Muir, Secretary --+---- Subject: Downtown Student Facility Trust (DSFT) & 751 Anticipated Uses Date: Wed, 04 Jun 2003 14:10:05 -0400 From: John K Muir CC: kduguay@city.peterborough.on.ca City of Peterborough Planning Division, City Hall, 500 George Street North PETERBOROUGH ON K9H 3R9 Attn Kevin M. Duguay Re: Downtown Student Facility Trust and Contemplated Uses for 751 George Street North (Sadlier House) Dear Mr. Duguay, The Downtown Student Facility Trust was established to fulfil the wishes of Trent students expressed through a successful referendum result passed on 14 March 2003. The referendum question read: Do you support the creation of a $22 levy, indexed annually to the consumer Price Index, to purchase an existing building in the City of Peterborough, close to a Trent bus route, to create and operate a non-profit, cultural and educational student facility, sponsored and operated by the students of Trent University, to be shared with the community as a whole, and governed by an independent Board of Directors? At a plenary meeting held on 20 March 2003 it was decided that the working mission and character of the "corporation to be incorporate" shall include; 1) The purchase of an existing building in the City of Peterborough close to a Trent bus route to create and operate a non-profit, cultural and educational student facility. sponsored and operated by the students of Trent University to be shared with the community as a whole and governed by an independent Board of Directors. 2) A majority of this Board shall be enrolled students of Trent University, and shall be drawn from among the student body, the organisation's volunteers and the community at large. 3) The facility may include provision of rental accommodation, meeting rooms, offices, dining areas, and performance space. At a meeting held on 28 March 2003 it was decided that; Seven people, all having achieved the age of eighteen years, and a majority of whom are Trent students, would enter into a trust agreement, forming "DOWNTOWN STUDENT FACILITY TRUST" to further the aims set out in the above cited referendum and at the previous meeting of the group held on 20 March 2003, and to establish and incorporate this trust as "DOWNTOWN STUDENT FACILITY". The seven people are; Dwayne Collins, Marisa Barnhart, Catherine Dickinson, Chris Mather, John Muir Matthew Naylor, and Fraser Smith, It was further decided; 1) to open a bank account in the name of "Downtown Student Facility Trust" 2) that the head Office and mailing address of the organisation shall be 715 George Street North, Peterborough K9H 3T2 3) that Catherine Dickinson act as Chair and John Muir act as Secretary/Treasurer. In the days and weeks that followed the group set about deciding what property might best suit its need and it was decided to pursue the purchase of 751 George Street North with a severance to include the South Garden. The Trust wishes to carry-on the uses of this building and property established by Trent University during its ownership of same. Contemplated activities would be in accord with the educational and cultural mission of the Trust, forming an integral part of the university community in the Peterborough community and include, not limiting the generality of the foregoing; teaching, study, research, training, the dissemination of knowledge, all matter of presentations, worship, formal and informal gatherings, the provision of student residence and include ancillary office and refectory facilities. Sincerely, John K Muir, DSFT Secretary/Treasurer c.c. Catherine Dickinson Scott Douglas Richard Taylor DSFT Members