Archives: Newsletter from DEC 2023

Island Home Club Monthly Newsletter

DECEMBER 2023

Holiday Edition

Message from the IHC President.

by Scott MacPherson, IHC President 

Happy Holidays to our island community! Tonight is the Winter Solstice meaning that as of tomorrow, the days are getting longer once again. I am happy to say…summer is coming!!!

We are in budget season and the executive committee has been reviewing data from 2023 and preparing a budget for 2024. Earlier this month, the Long Range Planning committee recommended a course of action to repair the failing infrastructure on the mainland pierhead.  They identified a contractor who submitted a proposal to have the work completed early Spring 2024.  To expedite the approval process, an email motion to approve the project using the capital improvement fund was distributed.  We received nine cottage responses approving the motion.  The long range planning committee has a representative from each cottage and is doing a fantastic job of planning and coordinating projects across the island.  

We are scheduling the winter meeting for Sunday, February 4th that will again be held virtually this year.  As defined, our agenda will primarily be focused on reviewing the 2023 financials and voting on the 2024 proposed budget.  Please submit any proposals in writing 7 days prior to the meeting so the full agenda and budget can be distributed ahead of time. I will be sending out a friendly reminder in January.  

Finally, keep an eye out for those town tax bills.  Georgetown is conducting a reassessment as we speak.  This was brought to my attention with the recommendation that we might be better positioned with a unified community response (rather than individual cottages) if needed.  

THIS MONTH’S

TOP STORIES

Government Center 

by Kari Jones, Island Engineer 

The Long Range Planning committee has done an excellent job of coming together and combining forces to determine the best path forward with some of our more pressing infrastructure projects.  Big thanks to the team for their contributions. Below is a quick highlight of the main topics, however more information will be provided in the winter meeting.  

Mainland Pier Head:  A motion was put forth to the community to give the committee approval to hire a contractor and secure their services to complete necessary repairs before docks arrive in the spring.  Motion was approved. 

Sea Wall:  All quotes received to repair seawall proved to be prohibited and therefore the committee recommends to complete this project ourselves, utilizing specific work weekends in the spring and fall to steadily build up sections. Team leads have been identified, and more information will follow.

Moorings:  Same contractor that agreed to do the work on the pierhead also offered to service our yacht club moorings.  We are looking to group the home club moorings to be serviced as well.  Any cottage that would like their own moorings to be looked at, considering Chuck Fuller is no longer in the mooring business, please reach out to Dave Robinson to funnel communication and interests. 

Work Boat: Wrapped up for the winter. Center console and seat have been removed, and additional cosmetic work on the bow to be completed by Bill Plummer. Thank you to Corby Lane for letting us store both the new and old workboat on his property. 

STORM UPDATE:  A separate email will be sent regarding the latest storm and the work that needs to be immediately addressed. A big thank you to Dick Walker (and friends) for being our eyes and reporting back their findings. 

Treasurer's Ledger 

by Will MacPherson, IHC Treasurer 

The work behind the treasurer transition continues as access to accounts and services require excessive logistical maneuvering (presumably for security reasons). But despite this, I expect to have an initial electronic payment solution available by the winter meeting. We have also begun putting together initial thoughts for the proposed 2024 budget which will also be communicated in advance of the meeting.

Additionally, I am pleased to share a rare piece of good news from our 2023 budget. Central Maine Power recently indicated that they made a mistake and have been overcharging the island at the wrong rate. They are issuing a refund and a customer service guarantee credit which combines to approximately $3,600. For now, we plan to divert those unexpected savings into the capital fund to help counter the recently approved pier head spend. What a nice holiday gift from our favorite regional utility. 

Secretary’s Notes

by Kate Roloff, IHC Secretary 

The updated distribution list for the IHC membership has been completed. Many thanks to the representatives who shared their cottage’s information with me. Once the website is up and running, we will continue to build a community directory and design methods to continuously revise member contact information, as needed. In the meantime, please contact me at secretary@islandhomeclub.org with any revision requests.

Community Announcements

From David Robinson - 

COMPOSTING 101 IN 2024

Think back 152 years…no automatic dishwashers, clothes washers or dryers; no septic, and of course, no trash or garbage removal. HOW did our forefathers ever survive? Well, you can now take a step back in time – composting for the Island Home Club is ready for your refuge.

Two bins (collectors) have been built on the southern side of the Icehouse. One is already receiving “leftovers”. Please refer to the flyer distributed to all cottages which details acceptable materials for composting. There are two bins such that we can alternate years of collection and thus have rich soil each year for your geraniums.

So, take a trip back to the past and make your ancestors proud…and take a bow – you are now an environmentalist! GOOD JOB!

Important Dates:

  • Long Range Planning Committee Meeting -  TBD

  • Monthly Board of Directors Meeting - Monday, January 8th

  • IHC Winter Meeting - Sunday, February 3rd

Photo of the Month

Old man winter watching over the place for us!

Island Home Club

Five Islands, Maine

Archives: Newsletter from OCT 2023

Island Home Club Monthly Newsletter

OCTOBER 2023

Cheers to Summer 2023!

Message from the IHC President.

by Scott MacPherson, IHC President on October 6th 

In an effort to streamline communication, the officers and I are launching a new IHC Monthly Newsletter. These newsletters will be sent at the beginning of each month to share updates and important information with the IHC community. The objective of this newsletter is for the officers to communicate efficiently with the membership in a centralized format.  

On a more personal note, I would  like to extend a huge thank you to Dick Walker, Beth Jones, and Corby Lane for their hard work in locating a new work boat for the Club! This 19’ Carolina Skiff will soon begin an endless journey hauling lumber across the harbor for generations to come. Hope to see many of you at the upcoming Fall Work Weekend!

She’s a beauty! Check out the new club work boat.

 THIS MONTH’S

TOP STORIES

Government Center 

by Kari Jones, Island Engineer on October 6th

Many tasks were completed in preparation of Hurricane Lee, big thanks to those who came to help batten down the hatches and begin the overall island shut down process, especially Frank, Al, Gail, Sam, Scott, Will, Dicki, Hank, Sue, Rick, Janet, Bob, Doug and Anne.

The Fall Work Weekend 2023 is scheduled for Saturday, October 14th. Unfortunately, the weather is looking a little suspect, however there will be no rain date for this work weekend.  Anything not completed will be on the list for the Spring. There will be a burn pile if weather permits.  Antifreeze is available for cottages to use while closing and can be found at Government Center.

“Need to do” tasks: install Cookhouse windows and final shutter, put finger floats out on the moorings, cover Cookhouse bell, haul remaining boats (if any).

“Nice to do” tasks: trim hedges/overgrowth, install/fix child safety rails, paint Ice House trim, take the old mower to the dump.

Cookhouse Corner

by Jeni Robinson, Cookhouse Manager on October 5th

This year saw an increase in meals served and memories made in the cookhouse. We look forward to another fantastic season in 2024. 

Many hands make light work. A handful of IHC members have put in time in recent weeks to get the cookhouse ready for winter. With the exception of the scheduled window replacement and a few final touches, the cookhouse is ready to be closed for the season. 

Message from the Treasurer

by Will MacPherson, IHC Treasurer on October 6th

Please continue to send your assessments to Janet Cosseboom as we evaluate the options for electronic forms of payment to the IHC and continue the transition. Potential future payment options might include Venmo and/or via the new IHC website. There are several capabilities that the website offers and all are being explored currently.

Secretary’s Notes

by Kate Roloff, IHC Secretary on October 6th

The updated distribution list is coming together nicely. This has been a wonderful opportunity to make name changes, include new members, and recognize younger members who are transitioning into active roles within the community. Thank you to the cottage representatives who have shared their member contact information. 

We are currently waiting for a few more cottages to send an updated list - please have a representative(s) email me at secretary@islandhomeclub.org as soon as possible. This distribution list will be the basis for IHC communication moving forward and we want to make sure everyone is included. 

Also, please share photos, stories and updates for the community with me at any time. Efforts are ongoing to build the IHC website and many thanks to Will MacPherson and Bo Yalenezian for dedicating time and skills to this project. 

Please note: the website is currently offline while under construction but will be available in the near future as we transition the club to this new format. 

Important Dates:

  • Monthly Board of Directors Meeting - Monday, October 9th

  • Fall Work Weekend - Saturday, October 14th

  • Long Range Planning Committee Meeting - Wednesday, November 1st

Photo of the Month

Hurricane Lee approaches from the south. Photo credit: Will MacPherson

Island Home Club

Five Islands, Maine

Archives: Newsletter from NOV 2023

Island Home Club Monthly Newsletter

NOVEMBER 2023

Fall Newsletter

Message from the IHC President.

by Scott MacPherson, IHC President 

The island is officially shut down for winter!  Thanks to all who participated in the fall Work Weekend and to those who got tasks accomplished on their own time. The new windows were successfully installed in the Cookhouse and an enormous load of metal debris was taken off the island, including the old riding mower.  And, we were treated to Bob Jones serenading the crowd during an evening burn pile!  The officers are working away to streamline our communication and are still missing updated contact information from a few cottages.  Please share any updated information with secretary@islandhomeclub.org.  We are starting to look at summer 2024 and some important dates to share.  Next month we will be looking for any proposals or New Business for the upcoming winter meeting.  Have a great November everyone!

THIS MONTH’S

TOP STORIES

Government Center 

by Kari Jones, Island Engineer 

We have the club boat in the water at the fisherman’s dock, but anyone who goes over in the winter will need to bring an engine. Overall we had a successful shut down of the island with help of Scott, Al, Sam, Frank and Rick. The new workboat is being stored at Corbys and will be good to go for spring.

Treasurer's Ledger 

by Will MacPherson, IHC Treasurer 

I continue to work closely with the previous Treasurer to climb up the learning curve and start handing over the many tasks and operations that fall under that role. I am also close in identifying a path to allow for electronic payment for dues, donations and, ultimately, weekly meal payments without incurring additional cost. Please continue to send assessments to Janet for the time being. Many thanks for everyone’s patience.

FIYC Update 

From David Robinson - 

Did you know that Five Islands Yacht Club is world famous…well, at least Maine Coast famous!  “A Cruising Guide to the Maine Coast” by Hank and Jan Taft cites that, “The club maintains four free guest moorings for visiting yachtsmen – an almost extinct courtesy, Thank you.”

This was an idea implemented by the club to encourage cruising yachtsmen to stop by our beautiful harbor, and for we inhabitants of Five Islands to witness some beautiful yachts as they cruised Down east.  It’s especially entertaining to see a 54-foot yacht hanging on the mooring next to TRULY BLESSED!

While Taft’s refers to the guest moorings as “free”, it is really only an implied meaning of Guest. The Club has indeed offered the moorings at No Fee.  But don’t we all accept gratuities, gifts, and thank yous from our guests.  How about you – do you go to dinner with your friends without bringing your host a bouquet?

So, this season the club put a Welcoming note in a canister on each mooring and suggested that visiting yachtsmen might make a contribution to be used by the club to help maintain its “Guest Moorings”, a move that was initiated as the Club faces costs of up to $1,000.00 to replace chain on a mooring.

And our visitors were only too happy to participate.  With an average contribution of $20.00 per night – a bargain when cruisers face minimum mooring fees of $40.00 per night in most ports – and “Thank you” notes from many, we continue to be appreciated in our “extinct courtesy”.

The Yacht Club thanks all its members for their support and participation.  Come and stay on your Guest Mooring – free for all Members…for a night. Good job!

Community Announcements

Colin and Kelsey are engaged! A 2024 wedding is being planned. Welcome to our newest IHC member.

Julia Walker married Jason Wheeler in Caratunk, Maine on October 7th. Congratulations to the happy couple!

Important Dates:

  • Long Range Planning Committee Meeting - Tuesday, November 7th

  • Monthly Board of Directors Meeting - Tuesday, November 13th

Photo of the Month

Rachel skippering the old mower and workboat on their final voyage. 

Island Home Club

Five Islands, Maine

SBA Loan Motion

IHC Motion Regarding approval for a “SBA Loan Assessment” to move forward with the final paperwork for the SBA loan. The total terms and conditions of the loan are HERE.

Background: The officers of the Island Home Club, Inc. have made presentations to the Members of the IHC with respect to the borrowing in the principal amount of $757,200 pursuant to a Disaster Business Loan (the “Loan”) being made by the U.S. Small Business Administration (“SBA”) (Please reference document titled: SBA Disaster Lean Terms Summary previously distributed by the IHC President). As a condition of the SBA’s agreement to extend the Loan for the benefit of the IHC, the SBA requires that a majority of the IHC Members pass a “SBA Loan Assessment” in an amount sufficient to fully amortize the Loan.

  • Definition of the “SBA Loan Assessment”: a portion (amount yet to be determined based on what is ultimately borrowed but not to exceed a monthly payment of $3,357.00) of the IHC monthly assessment to be allocated to a separate account noted as the SBA Loan Assessment Account. The purpose of this account will be to pay the principal and interest of the Loan on a monthly basis as indicated by the Payment Terms in the agreement.  This is NOT a special assessment to escrow the full value of the loan, rather an ongoing assessment to cover monthly debt service cost.

In Summary: This approval would give the IHC legal and contractual access to the funds and to officially engage with the SBA as the lender. However, actual use of those funds (e.g. to use for building a bridge or the pierhead) will be discussed in subsequent meetings and voted on separately on a per project basis in order to determine appropriate use of borrowed money. The borrowed money will sit in an interest bearing account until it is used, and if all or a portion is not used by 2/14/26 at the latest, will be returned to the SBA without meaningful cost to the IHC.

----------------------------

Motion:  

Allow the IHC Treasurer/Finance committee to create the SBA Loan Assessment account, and an SBA Loan Assessment which:

  1. Is in an amount sufficient to fully amortize the Loan in accordance with the “Payment Terms” set forth in the Loan Agreement.

  2. Refers to and adopts all the terms and conditions of the Loan Agreement and provides that the proceeds of the SBA Loan Assessment will be used solely to amortize the Loan;

  3. Shall be irrevocable until the SBA is paid in full pursuant to the Loan Agreement; and

  4. Shall provide that the SBA Loan Assessment account will be assigned by the IHC to the SBA as collateral for the Loan.

And:

To allow the IHC Treasurer/Finance Committee to proceed with finalizing the SBA loan agreement on behalf of the IHC. The paperwork would be finalized by 11/18/24 which would give the IHC until 2/14/25 to receive funds which would not require any payments nor will it accrue interest on any amount until 11/18/25 at the earliest. This agreement would further pledge all IHC common property as collateral while the loan is outstanding under the Mortgage Agreement included in the loan documents.

SBA Disaster Loan Terms Summary

Basics

Total Proceeds:               $757,200
 Sub-Total for Real Estate Repair/Replacement: $644,800
    Sub-Total for Contents:          $112,400

Rate: 3.25%

First 12 Months: No interest accrual or payments due

Debt Service payment: Monthly payment of $3,357.00 (assuming full amount of loan used)

  • Note: if you exclude Contents, monthly payment is $2,850.00 per month

Pre-Payment Penalty: None

Final Payment (if not pre-paid): 8/14/2054

Tenor & Key Dates

Collateral

1) Security Interest: 

  • Budgeted "Special" Assessments: Money allocated to paying debt service monthly

  • Loan assessments will need to be collected in a separate account and "pledged" to SBA

  • NOT a special assessment to escrow the full value of the loan

  • NO WORD YET ON ANY RESTRICTIONS ON INTEREST BEARING ACCOUNTS. 

2) Mortgage Interest: 

  • Collateral here is all IHC property, including Malden, Hen and Mink islands. 

  • Includes all common infrastructure: buildings, floats, piers, sewer building, etc. 

  • NOTE: Would need SBA approval to sell or transfer IHC property until loan complete

Operating Requirements/Compliance

  • Must submit construction plans for any project over $50,000

  • Post the Equal Opportunity disclaimer somewhere on your place of business if you hire employees 

  • Retain all receipts from spent proceeds

  • Cannot use proceeds to pay wages or compensation to a member for repairs, etc.

  • To the extent feasible, purchase only American made equipment and products w/ proceeds

  • Submit Agreement of Compliance before any disbursement of funds for Real Estate

  • Cannot use lead based paint

  • All proper construction permits must be secured

  • Cannot store excess amounts of hazardous substances

Insurance

  • Real Estate projects must have hazard insurance up to 80% of insurable value 

  • Real Estate must purchase flood insurance for any insurable property 

Penalties

  • Wrongful misuse of proceeds can result in repayment of 1.5x the principle amount

IHC September update from the President

Greetings Island Home Club members,

The new board of officers is excited to do our part to help maintain and preserve our shared community.  We have been meeting as a group on a regular basis to strategically orient ourselves for a smooth transition.  A special thanks to the past officers who are continuing to lend their assistance.  We wanted to start with a brief update on IHC matters. 

  • Monthly assessment payments will continue to be sent to Janet for now.  We are working to set up electronic payments as an alternative option.  In the meantime, we are keeping our procedures the same as we continue working through this transition phase.

  • The fall work weekend is scheduled for October 14/15.  The primary focus will be the winterization of the infrastructure.  Further details will be coming in a future communication.  

  • Hurricane Lee is on all our minds at the moment.  The officers are watching it closely and a response plan will be sent shortly.

Finally, as we work to streamline communication procedures, we are asking for your assistance in assembling the list of members and email contact for your cottage:

  1. Identify a “point person” for each cottage.

  2. Have the point person send a contact list to the IHC Secretary at secretary@islandhomeclub.org.

  3. Please complete this request by September 30th.

Scott MacPherson and the Officers