07/25/1988
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July 25, 1988 Minutes
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Ms. Smith stated that under' the present circumstances, there is a strong uncertainty
within the Board as to their focus and direction for the next fiscal year and until
specific goals are defined, she did not see a future opportunity for herself in that
environment. She also stated that she would be willing to stay until September 30, 1988,
under the present uncertainty of the Board of Directors.
Bill O'Malley made a motion that Ms. Smith be requested to remain until Sept. 30th, 1988
and that the Board proceed with arranging a compensation package for t1s. Smith. Ed
Armstrong seconded the motion for discussion. The motion was approved by the Board.
Further discussion and exolanation ensued regarding the $20,813 compensation package for
Mr.' Carpenter 'and the proposed $12,156 compensation package for Ms. Smith.
Bill O'Malley made a motion that Ms. Smith be compensated, per her memo dated July 19th,
in the amount of $11,344, which includes benefits plus the base 4 months salary, and
any accured vacation pay at the termination date set. Tyler Grady seconded the motion
for discussion. Discussion ensued - The Board felt that the base pay was fair to Ms.
Smith and that to include benefits for ,an additional, sum at the time of a severance' '
package, was not appropriate. Mr. O'Malley's motion was withdrawn to allow another
one to be made. Tom Brown made a motion to give Ms. Smith 60 days - the motion failed
,for lack of second. Chuck Finegan made a motion that Ms. Smith be given 4 months
severange pay and to make sure there is no misunderstanding, the 4 months would be the
monthly salary times 4 months. This pay would be $6,496 and any additional vacation pay.
Bill O'Malley seconded the motion. The contingency was then added, per Ed Armstrong's
request, that Ms. Smith, under good faith, remain with the Board until Sept. 30th, 1988.
The Board approved this motion and it passed.
Chairman Thompson appointed a Nominating Committee consisting of Chuck Finegan, Tyler
Grady and Tom Br.OWfl:.' Bill O'Malley declined the appointment due to the uncertainty
of the Board's future and the concern over obtaining candidates willing to serve under
the present circumstances. The position is to fill the vacancy left by the resignation
of Board member, Lillian Trickel. A special meeting was set for the following Monday,
Aug. 1,1988. Also at this special meeting, the budget.allocations will be discussed.
Ed Armstrong made a motion that Tyler Grady check with Stone Buick on the retail value
of the leased automobile for Carpenter, Chuck Finegan seconded the motion and Tyler
Grady agreed to do so and the Board approved.
The meeting was adjourned at 7:20 P.M.
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Clearwater Downtown
Develooment Board
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