Since December, our long-range plan implementation team, led by Dan Flaherty, Bryan Smith and Jack Livingston, has overseen the design of the major house renovation, solicited and analyzed bids from contractors, finalized a sound financial plan for the entire Phase 1 plan implementation and readied the club for the completion of the house remodeling. That process has been grueling but has proceeded on schedule and to good result. On Thursday, June 9 at 6pm, the Board of Directors invites you to attend a special member meeting where we will provide the latest information about this long-needed development.
The Board of Directors is required by club by-laws to convene a meeting and obtain a two-thirds vote of support from the members in attendance for a financing arrangement that will require a lien on club assets. From the beginning of the planning effort, we have tried to avoid significant financial impact on current members while completing these projects in a high-quality and timely manner, unlike other area country clubs. For this reason, a major feature of our financing strategy has been to engage with a lending institution to fund significant long-range plan costs. With the advice and support of our Finance Committee, the Board will recommend at this meeting that we enter into a construction loan arrangement with M&T Bank enabling us to complete this major renovation on the schedule we have promised all of you last December at the annual member meeting.
Further information will be provided to you in advance of the meeting. We hope to see you there to support this next big improvement in your club experience.
The full Board of Directors is pleased with how this entire effort has come together. We think you will be as well.
See you on the 9th
Best to you,
Sean Sullivan
President