Middle Bass Island Yacht Club

1
Middle Bass Island Yacht Club
1989 - 2007
2
MBIYC Reconstruction

• This presentation has been prepared for the
  members of the Club. It attempts to show the Club
  managements plan for the reconstruction of the
  the new State Park marina and the MBIYC grounds
  and buildings.
• All plans are still being developed but we have
  reached a point where membership approval is
  required to move further forward.
• The Club Constitution requires the Officers and
  Directors of the Club to obtain member approval
  prior to indebting the Club. In order to execute
  the current reconstruction plan, a long-term
  lease commitment with state and financing from
  commercial institutions must be obtained.
• We ask that you take in the complete presentation
  before beginning a questions and answer session
  as many of your questions may be answered
  throughout the presentation.
• Thanks for your help,
• John Wierzchowski
• Commodore

3
MBIYC Vision

• The "organization" shall continue to maintain,
  enhance and improve the club's facility for the
  enjoyment of its members, families and guests. To
  preserve and protect the natural habitat of the
  area for all that visit and abide by all laws and
  covenants set forth by the township and State of
  Ohio.
• The "organization" shall maintain its commitment
  to all members for continued growth and
  prosperity of the Middle Bass Island Yacht Club
  for now and in the future.

4
Special Membership Meeting

• 4.3 Special Meetings Special meetings of voting
  members may be called by any of the following
• 4.3.1 The Commodore, or, in case of the
  Commodores absence, death, or disability, the
  Vice Commodore
• 4.3.2 The directors by action at a meeting,
  or a majority of the directors acting without a
  meeting
• 4.3.3 The lesser of (a) ten percent of the
  voting members or (b) twenty-five of the voting
  members.
• 4.4 Notice of Meetings Notices of all regular
  and special meetings of members shall be mailed
  to the last known address of each member entitled
  to receive such notice at least 20 days prior to
  regular meetings, and at least 10 days prior to
  special meetings. The inclusion of a Notice of
  Meeting in an official Club publication mailed
  the required time before such meeting will be
  deemed to comply with the foregoing provisions.
  Any notice of Special Meeting shall describe the
  object of the meeting, and no other business than
  that stated shall be acted upon at such meeting.
• 4.5 Postponement If weather or other
  circumstances make it impractical to hold a
  meeting as scheduled, the Board may postpone the
  meeting provided no such postponement shall be
  for a period longer than 30 days. Notice of such
  postponement shall be provided as directed by the
  Board.
• 4.6 Quorum At any annual, regular or special
  meeting of members, attendance in person by 10
  of the Active members as determined by the
  records of the Club, shall constitute a quorum.
• 4.7 Voting
• 4.7.1 Attendance Attendance at meetings
  shall only be in person and voting may not be
  conducted by mail or the use of communication
  equipment, except with respect to election of
  directors, officers and elected committee
  members, where written absentee ballots may be
  used, or as specifically provided by the Board of
  Directors with such provision stated in the
  notice of meeting.
• 4.7.2 Number of Votes Each Active member
  present and in good standing in this Club shall
  have one vote on each question.
• 4.7.3 Voting Except as otherwise provided
  in Article 5, voting shall be by voice unless a
  poll is demanded by an Active member duly
  qualified to vote, in which event votes shall be
  cast by a show of hands. Upon a motion supported
  by at least one-fifth of the Active members
  present and voting, a roll-call vote shall be
  held. The presiding officer may require that
  voting be by secret ballot if circumstances
  warrant.
• 6.3  Authority   The Board of Directors shall
  have general control and management of the
  affairs, property and funds of the Club but,
  unless authorized by a two-thirds vote of the
  members present at any duly called meeting, shall
  not make the Club liable for any debt or debts
  beyond the amount of cash on hand at the time the
  debt is incurred.

5
Meeting Agenda

• How did we get here? Todays Situation
• Paths Pursued
• State Negotiation Goals
• Marina Plans and MBIYC Options
• MBIYC Dock Plans Costs
• MBIYC Leasehold Plans Costs
• MBIYC Building(s) Plans Costs
• Dollars ense Plans Forecasts
• Questions Answers
• Call for Vote on Lease with State
• Call for Vote on Financing
• Call for Vote on Dues Fees

6
Meeting Agenda

• How did we get here? Todays Situation
• Paths Pursued
• State Negotiation Goals
• Marina Plans and MBIYC Options
• MBIYC Dock Plans Costs
• MBIYC Leasehold Plans Costs
• MBIYC Building(s) Plans Costs
• Dollars ense Plans Forecasts
• Questions Answers
• Call for Vote on Lease with State
• Call for Vote on Financing
• Call for Vote on Dues Fees

7
How Did We Get Here?

• When the State acquired the marina and
  surrounding land in 2000 they became our
  landlord.
• In 2003, the State committed to MBIYC to enter
  into a long-term contract for docks, land and
  buildings.
• 2007 State began reconstruction of the State
  Park Marina and MBIYCs lease terminated in
  October 2007.

8
Todays Situation

• State began reconstruction of the marina basin in
  October 2007.
• Marina is closed until summer 2009.
• State to award dock contract in January 2008 and
  finalize by March 2008. Dock deliveries to begin
  fall 2008.
• Marina to reopen Spring 2009.

9
Meeting Agenda

• How did we get here? Todays Situation
• Paths Pursued
• State Negotiation Goals
• Marina Plans and MBIYC Options
• MBIYC Dock Plans Costs
• MBIYC Leasehold Plans Costs
• MBIYC Building(s) Plans Costs
• Dollars ense Plans Forecasts
• Questions Answers
• Call for Vote on Lease with State
• Call for Vote on Financing
• Call for Vote on Dues Fees

10
Paths Pursued

• Purchase our own property and construct our own
  marina outside the State Park.
• Purchase our own property outside the State Park
  and purchase or lease docks within the State Park
  marina.
• Lease property and purchase or lease docks within
  the State Park.
• Lease only property within the State Park and
  utilize State Park docks in the manner as the
  general public.
• Purchase or lease only docks within the State
  Park marina.

11
Paths Pursued

• Purchase our own property and construct our own
  marina outside the State Park.
• Purchase our own property outside the State Park
  and purchase or lease docks within the State Park
  marina.
• Lease property and purchase or lease docks within
  the State Park.
• Lease only property within the State Park and
  utilize State Park docks in the manner as the
  general public.
• Purchase or lease only docks within the State
  Park marina.

12
Meeting Agenda

• How did we get here? Todays Situation
• Paths Pursued
• State Negotiation Goals
• Marina Plans and MBIYC Options
• MBIYC Dock Plans Costs
• MBIYC Leasehold Plans Costs
• MBIYC Building(s) Plans Costs
• Dollars ense Plans Forecasts
• Questions Answers
• Call for Vote on Lease with State
• Call for Vote on Financing
• Call for Vote on Dues Fees

13
State Negotiation Goals

• To negotiate a long-term contract with the State
  to provide the Club with docks and land in the
  new State Park Marina.
• Minimum 25 year term with renewal options.
• Docks purchased by MBIYC for exclusive use.
• Maintain or increase current dock capacity.
• Minimize membership and dock cost increases to
  members.

14
Meeting Agenda

• How did we get here? Todays Situation
• Paths Pursued
• State Negotiation Goals
• Marina Plans and MBIYC Options
• MBIYC Dock Plans Costs
• MBIYC Leasehold Plans Costs
• MBIYC Building(s) Plans Costs
• Dollars ense Plans Forecasts
• Questions Answers
• Call for Vote on Lease with State
• Call for Vote on Financing
• Call for Vote on Dues Fees

15
Marina Plans
16
Available Options

• West End Location
• West end of the marina is not desirable due to
  proximity to Park buildings and campgrounds.
• Split dock arrangement
• Must provide ADA docks near marina buildings
• East End Location
• East end is preferred by State
• Offers separation from State activities
• Dedicated Dock

17
Recommendation

• East End Marina Location
• Clubhouse on southeast corner of Marina
• NEXT Determine dock requirements for Club
  members

18
Meeting Agenda

• How did we get here? Todays Situation
• Paths Pursued
• State Negotiation Goals
• Marina Plans and MBIYC Options
• MBIYC Dock Plans Costs
• MBIYC Leasehold Plans Costs
• MBIYC Building(s) Plans Costs
• Dollars ense Plans Forecasts
• Questions Answers
• Call for Vote on Lease with State
• Call for Vote on Financing
• Call for Vote on Dues Fees

19
State Proposal Highlights - Docks

• 25 year initial term 15 year renewal option
• MBIYC owns and maintains docks
• Maintenance includes cleaning, repairs to
  fixtures, general upkeep, etc
• State will winterize and repair ice damage as
  required.
• Single Pier (F) with 56 docks
• Could lease extra docks on a seasonal basis from
  State in the future at a rate not to exceed the
  public seasonal rate.

20
Current Dockage

• Dock description power water
• A dock (39) 30 slips single 120V/1Ø/30A non-pota
  ble water
• (1) 30 slip single 220V/1Ø/50A non-potable
  water
• B dock (40) 30 slips single 120V/1Ø/30A non-pota
  ble water
• C dock (16) 20 slips no power no water
• N dock (12) 25 slips no power no water
• --------------------------------------------------
  --------------------------------------------------
  -
• Totals (40) 30 slips with power non-potable
  water
• (12) 25 slips no power no water
• (16) 20 slips no power no water
• (68) slips

21
Todays Situation

• MBIYC Boat Sizes
• DOCK HOLDERS WAITING CLUB1
• 50 0 1 1 7 2
• 49 0 0 0
• 48 1 2 0 4 1
• 47 0 0 0
• 46 1 2 1 1 4 1
• 45 0 0 1 lt1
• 44 0 1 1 2 lt1
• 43 1 2 0 3 lt1
• 42 0 0 10 3
• 41 1 2 2 3 3 lt1
• 40 0 1 1 7 2
• 39 2 4 1 1 6 2
• 38 1 2 5 7 14 4
• 37 2 4 2 3 16 4
• 36 2 4 2 3 17 5
• 35 1 2 6 9 8 3
• 34 7 12 12 17 43 12

22
Tomorrows Needs

• New Slips (length x well for 2 boats)
• SLIPS2 Needed3 Desired4
• 32 x 30 34 60 28 45
• 36 x 33 14 25 16 25
• 40 x 35 5 9 8 12
• 44 x 40 2 3 4 6
• 45 x 40 0 4 6
• 52 x 40 2 3 4 6
• Total 57 64 100
• 2Slip size is taken from sizes presented at Feb.
  State meeting. Well size is based on average boat
  beam with 4-5 spacing between docked boats.
• 3Needed is based on current dock holder boat
  sizes.
• 4Desired is based on the max we think we can get
  from the State and overall membership boat sizes.

23
Dock Layout
(28) 30 (16 ) 36 (8) 40 - (4) 44 (4)
45 - (4) 5264 Total
24
Marina Plans F Dock
56 Total
(6)
44 (2) 48 (16) 36 (8)
40(24) 30
(28) 30 - (16 ) 36 - (8) 40 - (4) 44 - (4)
45 - (4) 52
25
Marina Plans F Dock
56 Total
(6)
44 (2) 48 (16) 36 (8)
40(24) 30
(28) 30 - (16 ) 36 - (8) 40 - (4) 44 - (4)
45 - (4) 52
State Estimated F Pier cost - 850,000
26
Meeting Agenda

• How did we get here? Todays Situation
• Paths Pursued
• State Negotiation Goals
• Marina Plans and MBIYC Options
• MBIYC Dock Plans Costs
• MBIYC Leasehold Plans Costs
• MBIYC Building(s) Plans Costs
• Dollars ense Plans Forecasts
• Questions Answers
• Call for Vote on Lease with State
• Call for Vote on Financing
• Call for Vote on Dues Fees

27
State Proposal HighlightsLeasehold

• 25 Year Initial Term 15 Year Renewal Option
• The 25 year term provides MBIYC with the
  necessary time to pay off the financing required
  without requiring fee increases so large that
  membership retention is adversely affected. The
  membership has indicated it will support
  increases to fund the new marina and facilities
  but support will be lost if the increase exceeds
  150-175 of current levels.

28
Leasehold - Previous
29
Leasehold - Previous
30
Leasehold - Proposed
MBIYC
31
Leasehold - Proposed
MBIYC0.6-0.7 acres
Previous Lease 2.4 acres - 20,000 per
year Proposed Lease 3.1 acres - 10,000 first 2
years
15,000 next 3 years Then negotiated
adjustments every 5 years
32
Leasehold Value Calculation

• Water
• 104,000 ft2 x .05/ft2 5,200
• 0.05/ ft2 was determined from recent appraisals
  for submerged land leases.
• Land
• 100,000/acre x .7 acres 70,000 x 12 return
  8,400
• Calculated Lease Rate (First 5 Years)
• 5,200 8,400 13,600 x 5 years 68,000
• Negotiated Lease Rate (First 5 Years)
• 10,000 per year, first 2 years - 15,000 per
  year, next 3 years
• Total First 5 Years 65,000
• Previous Lease Rate - 20,000 per year
  100,000/5 years

33
Meeting Agenda

• How did we get here? Todays Situation
• Paths Pursued
• State Negotiation Goals
• Marina Plans and MBIYC Options
• MBIYC Dock Plans Costs
• MBIYC Leasehold Plans Costs
• MBIYC Building(s) Plans Costs
• Dollars ense Plans Forecasts
• Questions Answers
• Call for Vote on Lease with State
• Call for Vote on Financing
• Call for Vote on Dues Fees

34
Building(s) Site Plan
35
Building(s) Clubhouse SW
36
Building(s) Clubhouse NE
37
Building(s) Floor Plan
38
Building(s) - Costs

• Preliminary Plan A Only!
• Features
• About twice as large as our tent.
• 38x29 Great Room with Fireplace. (170 people
  max)
• Large screened windows face marina (north) and
  lake (east).
• Propane grilling area on outside wall of
  fireplace facing docks.
• 4 Stall, 2 Sink Womens Restroom
• 2 Stall, 2 Urinal, 2 Sink Mens Restroom
• 4 Stall Shower Facility
• 16x19 Warming Kitchen
• Office and Storage Rooms
• Estimated Construction Cost
• 2,690 square feet _at_ 130 per sq.ft. 349,700

39
Meeting Agenda

• How did we get here? Todays Situation
• Paths Pursued
• State Negotiation Goals
• Marina Plans and MBIYC Options
• MBIYC Dock Plans Costs
• MBIYC Leasehold Plans Costs
• MBIYC Building(s) Plans Costs
• Dollars ense Plans Forecasts
• Questions Answers
• Call for Vote on Lease with State
• Call for Vote on Financing
• Call for Vote on Dues Fees

40
Dollars ense Summary

• Capital and Finance Assumptions
• Docks - 750,000 - 850,000
• Club - 350,000
• Total - 1,100,000 - 1,200,000
• 20 Downpayment
• Finance Bank, Building Fund, Bonds
• Bank Interest 8
• Financing Up to 1,000,000

41
Dollars ense Capital Costs
42
Dollars ense - Financing
43
Dollars ense Summary

• Membership and Dues Assumptions
• Membership 350 - 400
• Dues - 225
• Initiation - 250 Work Hour - 50
• Docks - 475 - 775 (30 50)
• Transient 35/Night
• Transient Nights 500 - 800

44
Dollars ense Summary

• Annual Income and Expense
• Income - 166,000
• Expense - 150,000
• Cash Flow - 16,000
• Bank Required Cash Flow - 13,000

45
Dollars ense - Income
46
Dollars ense - Expenses
47
Dollars ense Summary Cash Flow
48
Yesterday
49
MBIYC MBI State Park2009
50
Meeting Agenda

• How did we get here? Todays Situation
• Paths Pursued
• State Negotiation Goals
• Marina Plans and MBIYC Options
• MBIYC Dock Plans Costs
• MBIYC Leasehold Plans Costs
• MBIYC Building(s) Plans Costs
• Dollars ense Plans Forecasts
• Questions Answers
• Call for Vote on Lease with State
• Call for Vote on Financing
• Call for Vote on Dues Fees

51
Questions Answers
52
Meeting Agenda

• How did we get here? Todays Situation
• Paths Pursued
• State Negotiation Goals
• Marina Plans and MBIYC Options
• MBIYC Dock Plans Costs
• MBIYC Leasehold Plans Costs
• MBIYC Building(s) Plans Costs
• Dollars ense Plans Forecasts
• Questions Answers
• Call for Vote on Lease with State
• Call for Vote on Financing
• Call for Vote on Dues Fees

53
Call for Vote - LEASE
To permit the Commodore and the Board of
Directors of MBIYC to negotiate and execute a
Lease with the State of Ohio for property located
at the Middle Bass Island State Park Marina. Term
of the Lease shall be not less than 25 years with
an option for an additional 10 years. Lease rate
shall be 10,000/yr for 2 years, 15,000 for 3
years then as negotiated.
54
Call for Vote - FINANCING
To permit the Board of Directors of MBIYC to
negotiate and execute required financing for the
purchase of docks and construction of buildings
on the property leased from the State of Ohio at
the Middle Bass Island State Park Marina. The
total amount of debt incurred shall not exceed
1,000,000 for a term of no longer than 25 years.
55
Call for Vote Dues Fees
To increase the MBIYC membership dues for active
members to 225 per year and the Club Initiation
Fee for new members to 250, effective January 1,
2009.
56
MBIYC MBI State Park2009 2034