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 management’s 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 Commodore’s 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? Today’s 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? Today’s 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 MBIYC’s lease terminated in October 2007.

8. Today’s 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? Today’s 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? Today’s 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? Today’s 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? Today’s 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-potable water (1) 30’ slip single 220V/1Ø/50A non-potable water B dock (40) 30’ slips single 120V/1Ø/30A non-potable 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. Today’s Situation MBIYC Boat Sizes DOCK HOLDERSWAITING 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 <1% 44’ 0 1 1% 2 <1% 43’ 1 2% 0 3 <1% 42’ 0 0 10 3% 41’ 1 2% 2 3% 3 <1% 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% 33’ 4 7% 4 6% 19 5% 32’ 7 12% 6 9% 33 9% 31’ 1 2% 4 6% 23 7% 30’ 3 5% 5 7% 24 7% 25’-29’ 13 23% 13 19% 76 21% <25’ 10 18% 4 6% 33 9% Total 57 70 353 1Club data based on 2006 membership roster – There is not data available for all members.

22. Tomorrow’s 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. 3#Needed is based on current dock holder boat sizes. 4#Desired 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) 52’64 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? Today’s 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 MBIYC|0.6-0.7 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? Today’s 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 S&W

36. Building(s) – Clubhouse N&E

37. Building(s) – Floor Plan

38. Building(s) - Costs • Preliminary Plan A Only! • Features • About twice as large as our tent. • 38’x29’ 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 Women’s Restroom • 2 Stall, 2 Urinal, 2 Sink Men’s Restroom • 4 Stall Shower Facility • 16’x19’ Warming Kitchen • Office and Storage Rooms • Estimated Construction Cost • 2,690 square feet @ $130 per sq.ft. = $349,700

39. Meeting Agenda • How did we get here? Today’s 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? Today’s 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