Our Annual Meeting was held in January again this year.
The group began the meeting by reviewing the agenda and the financial reports.
This is an important year in the evolution of the Windswept Farmstead Cooperative: both parties have agreed to move forward to become ownership partners of the LLC that owns the land. The initial lease agreement terminates on March 1st, at which point N&J will receive their first ownership shares under the terms of the Purchase and Sale Agreement. After that they agree to continue to purchase shares from Eric and Alison until they own 100% of the shares.
The group worked on the logistics of making this transition work smoothly, and they also reviewed all the language of the Purchase and Sale Agreement together to discuss and resolve any questions that came up before the initial equity transfer.
After the group had a shared understanding of the work that would need to be done before March 1st and then on the appointed day for signing all the necessary paperwork, the group discussed progress on the list of repair and maintenance tasks that had been drawn up at the 2016 Annual Meeting. They crossed off items that had been accomplished, and re-prioritized those that had not. Then they each brought up the items they would like added onto the 2017 task list and prioritized those, assigning responsibility for each of them to the current and future LLC members.
N&J brought up two issues that possibly involved By-Laws changes and the group discussed these. It was clear that a shared understanding of these issues could not be accomplished during this Annual Meeting, so an additional meeting was scheduled for resolving them after some necessary research.
N&J outlined new projects for their business — Dickey Hill Farm — that they planned to proceed with beginning in 2017.
With no other business remaining on the agenda, the Annual Meeting was adjourned.