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HomeMy WebLinkAbout2023-09-20 Board of Directors of Reading Ice Arena Authority Inc Minutesrt C,• =1VLJ CLERK t1A. MINUTES FOR THE SEPTEMBER 20,2023; i, 18 hM 9: 42 MEETING OF THE BOARD OF DIRECTORS OF READING ICE ARENA AUTHORITY INC Pursuant to notice having been given sufficiently in advance to all Directors, the meeting of the Board of Directors was called to order by Dennis Hughes, President on September 20, 2023 at 6:04p.m. The meeting was held at the Burbank Ice Arena on Symonds Way, Reading, Massachusetts. Present and participating were Directors Kadudeen Cutone, Mark Doherty, Dennis Hughes, Dave Hunter, Jim Liston and Cert McFadden. The Directors welcomed John Forrlsnll, new Reading Youth Hockey President to the Board as a Director. Also present was Edward Peduto (Arena Manager). The Board received word that due to an injury, O. Bradley Latham would no longer be serving as RIAA, Inc. legal counsel. Carl McFadden made a motion, seconded by Jim Liston, to approve the minutes for the June 28, 2023 meeting of the Directors. The motion passed unanimously. Ed Pedum gave the Operations and Scheduling Report. One of the largest projects that the RIAA has undertaken is replacement of the roof. After many meetings and discussions, but without any licensed engineers' input, it was decided that the extra expense and weight involved to make the arena roof "solar ready" was not justifiable given the proposed modest annual roof rental fee from Reading Municipal Light Department (RMLD), who would own the solar sorry. The existing roof will be replaced as built with a net cost to RIAA, Inc. of $283, 885 plus the cost of any damaged insulation that may be found. Discussion followed about the Town of Reading Selectboerd and its recent discussions about the development of the Symonds Way property that the Town recently purchased. It was agreed that RIAA will need to secure a law fun to represent it to replace O. Bradley Latham. RMLD. The arena will be undergoing an energy efficiency audit in a program sponsored by Carl McFadden made a motion, seconded by Katbaleen Cutone, to accept the Operations Report The motion passed unanimously. Ed Peduto gave the Scheduling Report. The schedule through Thanksgiving is consistent, with the Reading Youth Hockey tournaments taking place the weekend after Thanksgiving. The Reading High School boys' and girls' coaches have been given through October to schedule any nonleague games and notify the areae of dates that they play away and will not need practice ice at Burbank Arena. Dave Hunter made a motion, seconded by Kathaleen Cutone, to accept the Scheduling Report. The motion passed unanimously. Dave Hunter gave the Financial Report. A check for $ 99,609 was prevented to CentlMark Corp, the roofing contractor. That leaves $ 275k in the Eastem Bank Money Market account, S 25k in Eastern Bank checking and S 42k in Reading Co-op certificates of deposits. Mark Doherty made a motion, seconded by John Furrislall, to accept the Financial Report. The motion passed unanimously. Dennis Hughes gave the Audit Report. Dennis discussed the process by which RIAA should find new legal representation. Dennis invited all of the Directors to participate in the selection, which will likely involve a number of firms being interviewed. It is thought that a firm with experience with non-profit organizations will best suit RIAA. With the potential lease alteration to accommodate pickleball courts for the Town of Reading Dennis feels this process has to be priority one for the Board. Tonneson & Co. is performing the FY 23 audit. Tonneson's John Harradon wants the Board to know that RL4A has never filed its ORS 990 form Into according to generally accepted accounting principles. Tomeson is in possession of what it needs to perform the FY 23 audit there will be the usual requests to check various transactions that occurred during FY 23. Carl McFadden made a motion, seconded by Kathaleen Cutone, to accept the Audit Report. The motion passed unanimously. In Other Business, John Forristall was asked to report on the health of Reading Youth Hockey. John mentioned a lack of goaltenders, particularly on the girls' teams. The Board wanted to express its gratitude to O. Bradley Latham for his decades of service to RIAA. Reading HS Boys' coach Mark Doherty anticipates that his team will be competitive this year. Carl McFadden made a motion, seconded by Mark Ioherly to adjourn the meeting at 7:34pm. The motion passed unanimously.