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DOWNTOWN STUDENT FACILITY TRUST                             23 February 2004

      MINUTES OF THE EIGHTEENTH MEETING OF DOWNTOWN STUDENT TRUST
      held on 23 February 2004 at 11am at the TCSA Office, Symons
      Campus of Trent University, Peterborough, Ontario.

P R E S E N T: Marisa Barnhart, Catherine Dickinson, John K Muir,
               and Matt Naylor.

R E G R E T S: Dwayne Collins and Fraser Smith.

Also Present: Derrick McIntosh, Steward; and Mike Izzo.

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 11:10 a.m., with Catherine Dickinson
acting as Chair and John Muir acting as Secretary.

01 The Chair made some opening remarks. It was noted that Dwayne Collins 
had communicated his resignation to the Chair and the Steward, now that 
the Trust's work was almost complete. 

UPON A MOTION duly made seconded and carried unanimously the Trust accepts 
the resignation of Dwayne Collins with regret.

An agenda was agreed upon and discussion followed. 

02 The minutes from the previous meeting was presented.

UPON A MOTION duly made seconded and carried unanimously the Minutes of the 
Trust meetings held on 08 February 2004 were approved as presented.

03.  Steward's Report:
Derrick McIntosh presented the Steward's report, (see attached). Discussion
followed.

UPON A MOTION duly made seconded and carried unanimously, the Steward's 
report was accepted as presented.

04.  Overview of Items Incidental to Closing
The Steward led the Trustees through various matters incidental to closing 
the purchase of 751 George Street North.

Various scenarios were discussed regarding structuring of the closing.

Additional matters concerning a mailbox, snow removal and furnishings were 
discussed.

05.  Financial Update
The Secretary/Treasurer presented a report showing the financial position 
of the Trust with reference the purchase of 751 George Street North.
It was noted that there is enough cash to close.

06.  Insurance Report
It was reported that temporary (three month) insurance may be needed to 
provide coverage for the property upon closing and before regular insurance 
can be obtained, at a cost of $9,300 plus 8% PST.  This is very expensive 
when regular annual insurance may cost approximately $14,000. 

07.  Alleviation of Title Search, Severance and Zoning Conditions
UPON A MOTION duly made seconded and carried unanimously, the Steward is 
authorised and instructed to remove final conditions of purchase as per 
the advice of the Trust's lawyer, understanding the caveat communicated to 
the Trust by our lawyer at a Meeting held on 08 February 2004.

08.  Publication of Information (Website)
Matt Naylor was commended for his work on the Trust's website.  Discussion 
followed as how to mark the purchase Sadleir House.

09.  Any Other Business
Mike Izzo presented plans concerning opening ceremonies for the facility.  
It was noted that Mr. Izzo attention to these and other matters is 
enthusiastically welcomed.

A gathering on the evening following closing was discussed, as were 
arrangements for the PRC Cabinet on 01 Mar, a open house meeting set for 
04 Mar and the presentation of a film on 15 Mar.

The next Meeting of the Trust is at 10am on Thu, 26 Feb 2004.

10.  Adjournment
There being no further business, the Meeting adjourned at 12:20am


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