MINUTES

BOARD MEETING, CHAPTER 309

MAY 3, 2005

The Board met at the Gastonia Airport. The meeting was called to order by President Wigney at 7:12 pm. Present were John Wigney, Howard Cochran,

Sam Stewart, Bob Thayer, Ravi Thakkar, Sara Forrest, and Don Sink. The minutes of the last board meeting were reviewed and approved. The announced agenda contained the following items.

(1) Review of the hangar construction estimates

(2) Review hangar financials, Chapter By Laws, and Tax exempt

Status.

(3) Next steps towards hangar construction

(4) Schedule of events

(5) Brainstorm list

The Board examined the proposed construction site. It was announced that Wally Overton is preparing a presentation package to review with the City of Gastonia and that the proposal does not have to go to the County for approval. Sam Stewart reviewed the financial plan. He indicated that the Chapter has $25000 cash towards the estimated $65000 cost. To date approximately 45% of the balance has been pledged with other pledges expected to raise this amount to at least 50%. The Finance Committee has also explored obtaining a loan to use for completion. It is also expected that hangar space rentals and working space rentals will yield approximately $250 monthly.

Bob Thayer informed the Board that the quote for insurance on the building is $800/year for property damage and for $1200/year for liability.

The application for tax exempt status is on schedule. The Chapter By Laws need some modifications to include language that affirms the Chapter is incorporated under the laws of the State of North Carolina as a non-profit, tax exemptible organization.

The Board agreed that the next step needed is for the membership to be provided with a set of the proposed new By Laws and with enough information to make a valued decision about the construction project proposed. These will be distributed to all members. The Board feels that it is necessary for all members to make a decision as to their support of this project and to express this with their vote for or against. Copies of these materials are attached to these minutes. Those members who cannot attend the next meeting will be provided with a means of casting their vote via mail.

The next scheduled event for the Chapter is June 11, 2005. This is a fly in at Gastonia. Ray Petty will host the event. This will be a breakfast fly in. Ronnie is handling publicity with Kevin Cromie and David Borders the food. It was suggested that we have a pilot log in with name tags. It was suggested that we have some attendance prizes.

Brainstorm Session

Why are we considering building the hangar? Suggestions included:

(1) Space for Chapter projects

(2) Home meeting place; focus point for activities

(3) Tools

(4) Fellowship

(5) Fly Ins

(6) Parties

(7) Training/ Educational Programs

(8) Location for safety and other forums.

The meeting adjourned at 9:19 pm.

Attachments.