Board of Trustees Conference Call January 11, 2014

Mad River Glen Cooperative

Board of Trustees – Phone Conference

Tuesday, January 21th, 2014 7:00PM

President Wimble also joined the phone conference.

On Tuesday, January 21, 2014 the board met via phone conference to discuss the results of the planning study by Demont and Associates.

Trustee Holtan, Chair of the Fundraising Committee stated the committee had agreed to accept Demont and Associates recommendations.After a brief discussion the seven board members present unanimously agreed.

They then took a straw poll vote to determine if the there is sufficient interest on the board in engaging Demont and Associate for the capital campaign to make it worthwhile to begin negotiating Demont’s terms for working with MRG on the capital campaign.All seven agreed that there is interest in engaging Demont Associates. In discussion, the board recognized that it could only engage Demont Associates if the Cooperative’s Board::

<![if !supportLists]>·         <![endif]>Negotiated acceptable terms with Demont.

<![if !supportLists]>·         <![endif]>Took an action to engage Demont Associate during a regularly scheduled, duly warned meeting of the Cooperative’s Board of Trustees

The board spent considerable time discussing negotiating strategies and various financial concerns regarding funding the capital campaign. The need to work closely with SMF was also identified as a key component as we progress.

Respectfully,

Jon Anderson

Secretary