A Mariner House Board of Directors meeting was held via telephone conference call on Tuesday, October 18. All Board members were present excepting Kerric Harvey ; President Bill Hathaway called the meeting to order at 6:04PM. Tracy Canty also participated.
PROPERTY MANAGER REPORT
- Mariner House was busy in September with 83% occupancy. September weather was beautiful. Downtown is quieter.
- The Steamship Authority has increased rates.
- Covid infections are beginning to pick up.
- Notices for the MH Annual Meeting have been sent, along with directions for a new conference link for those attending remotely. Given response to date, it appears a quorum will be present, either in attendance, via conference or by proxy. Lunch is scheduled for 11:00 am, with the meeting commencing at noon on Octorer 22.
OLD BUSINESS
- MH received insurance rates for doubling the replacement value of the structure. The current insurance coverage is inadequate, as MH is only covered for 2MM. Increasing the coverage to 4.5MM would raise the annual premium to $20,700, approximately double the current cost. The Board decided that an additional appraisal is unnecessary.
- Awaiting action plan from Stephen Goan for foundation repair. Payment for this project will come out of Emergency Funds.
NEW BUSINESS
- There being no new business or other items for discussion, Gloria Kunz moved to adjourn the meeting at 6:22 p.m., seconded by Eileen Fox and passed unanimously.
Respectfully submitted,
Gloria Kunz
Secretary