MINUTES OF THE SPECIAL BOARD OF TRUSTEES MEETING
February 20, 2013
CALL TO ORDER
President John Jacobsen called the special meeting of the Board of Trustees of the Los Angeles Firemen’s Relief Association to order at 9:35 a.m. The meeting had been noticed to the Board on February 14, 2013.
ROLL CALL
MEMBERS PRESENT:
- John Jacobsen, President
- Juan Albarran, Vice President
- Andrew Kuljis, Secretary
- Jim Dolan, Assistant Secretary
- Trustee James Coburn
- Trustee Jeff Cawdrey
- Trustee Chris Hart
- Trustee Craig White
- Trustee Doak Smith
- Trustee Gene Bednarchik
- Trustee Robert Steinbacher
- Trustee Chris Stine
- Trustee Francisco Hernandez
- Trustee Steven Domanski
- Trustee Rick Godinez
- Trustee Kurt Stabel
- Trustee Mark Akahoshi
- Trustee David Ortiz
- Trustee Barry Hedberg
- Trustee David Lowe
- Trustee Tim Larson
- David Ned Smith – Executive Director
- Todd Layfer – Controller
MEMBERS ABSENT:
- Trustee Michael Overholser (Excused)
- Trustee David Peters (Excused)
- Trustee Steve Tufts (Excused)
Building and Lease Options
John Jacobsen called the Special Board Meeting to discuss LAFRA’s options of purchasing a building or continuing to lease with LAFCU. He asked that the items discussed in the meeting be kept confidential. He indicated that they have been working with realtor Steven Gelber in searching for properties. David Smith also informed that he and John had met with Mike Mastro regarding the lease and requested a new long term lease at a lower rate. He stated that the Credit Union has not gotten back with them on pricing new proposal.
John and David presented information on a specific property that meets our requirements. Preliminary cost estimates were reviewed.
Barry Hedberg motioned to move forward with the option to purchase a building by executing a non-binding Letter of Intent. Chris Stine seconded. After further discussion of leasing options and investments, there were no objections. John stated that we would bring back more details to the Board on both options when they become available.
Motion carried to move forward with the option to purchase a building.
ADJOURNMENT
The Special Board of Trustees meeting adjourned at 10:20am.
John Jacobsen, President
