Ray Massey led in prayer for Diamondhead Community and the decisions of the Board.
All Board members were present.
President Massey called the meeting to order.
October minutes were reviewed and passed unanimously.
Financial Report – Treasurer Tom Lockette
Net Loss of $3,000.00 for last month. Total cash flow for the year is looking good. We will have the same cash balance at the end of the year that we started with. It is looking better than we thought a few months ago.
Eric thinks the 19th Hole should be at a 60% Gross Profit Margin.
Financial Highlights:
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| Click on the picture to enlarge to a readable size. |
New Business:
DPOA Replat from DRC-
This was not noticed until DRC had the opportunity to sell the property to Family Fun Center / Larry Brown. This will be trading a few feet of land.
Resolution as made by Jack Watson:
That the Diamondhead Property Owners Association, here in known as DPOA, will execute a warranty deed encloses a portion of Track 2, Ohio Drive as shown on the attached plot, exhibit A. DPOA by proper resolution, by the Board of Directors, duly authorize the transfer of title to Diamondhead Resort Community Incorporated, here in known as DRC. Further resolve that the DPOA will accept a warranty deed from DRC for the property described on the attached exhibit B.Charles Wood seconded the motion. Passed unanimously.
Old Business:
Duane Mountain’s proposal regarding “For Sale” signs requires no action by the Board because the Grantor retained the authority over this issue.
Announcement:
The Town and Board meeting will be held on December 16th. The Town meeting will begin at 6:pm and the Board meeting will immediately follow at 7:pm.
Family Fun Center:
Regarding the Memorandom sent by Larry Brown:
“The investors are coming to town to view the site. They are going to have a meeting over there. Than they will have lunch over here. This is basically for the investors in the project.” Terry Shipp
Ray Massey stated: What Terry is saying is that they (Family Fun Center) are having a ceremony over there, on Saturday, November 20th, at 10:30am. Basically he is bringing his investors in. It is not a ‘golden shovel’ ground breaking. Mr. Brown will be saying a prayer over there. Than that group will be coming over here for lunch and discussion. Any of us is welcome to go to observe. But it is not a ‘Ground Breaking’.
Charles Wood made a motion to adjourn. It was seconded. Discussion….”Happy Thanks Giving”
Notes submitted by Diane Porterfield
