[Imc] Finance Group Meeting Minutes (8/21/02):

[Brian Hagy]

how does the idf deal with their apartment spaces?  i know one is room in
exchange for management.  how are the other spaces (if there are other
spaces) dealt with?

brian



On Fri, 23 Aug 2002, Paul Riismandel wrote:

> John,
>
> I'm the one who raised the concern with the IMC being a landlord.  My
> concerns have nothing to do with legal or tax issues, and everything to
> do with relationships between organizations, people and the community.
>  I think it's fair to say that many landlord-tenant relationships are
> rocky or hostile, for any number of reasons. Living space is vital,
> necessary and emotional.
>
> My concern is that it's a difficult position to be in. Does the IMC ever
> want to have to evict someone?  Can we really be fair in offering
> housing?  What about people who might be utterly hostile to the IMC's
> mission--can they rent from us and share a civil relationship?
>
> These are just some of the issues in being a landlord.  I understand the
> IMC's need for cash, but I'm also hestitant to see us gain it that way.
>  I will always prefer a more cooperative approach -- and between being a
> landlord for rent or exchanging a safe, clean living space for some
> valuable labor, I find the latter to be more cooperative.  What if we
> were able to have artists or journalists in residence who could instruct
> and dedicate significant time to production in exchange for housing?
>  What if most of us didn't have to pay rent -- how much less might we
> have to work at "straight jobs" and therefore be able to pursue our
> passion in Indymedia?  To me that's a goal much more in line with our
> principles.
>
> Further, while the IMC does have a small retail operation, we don't sell
> anything that is utterly essential for a person's daily survival. This
> means, our pricing on these things or their availability is not a life
> or death matter.  Shelter, however, is different.  Would the IMC offer
> apartments at market rate?  Or a "living rate"?  What about credit?
>  What kind of lease terms?  As someone who's rented many apartments,
> these can be sticky issues. Not insurmountable, but definitely something
> to be concerned about.
>
> On the flip side, renting living space does present the opportunity to
> be the best landlord in town. That's not insiginificant.
>
> But I'm not living in a fantasy world, and so I raise these concerns so
> that we all have the opportunity to think about them, not because I
> necessarily plan to block any action.  I recognize that it might be
> practical for us to start out renting space and transition into a more
> cooperative arrangement.  Frankly, that's what I'd prefer and, at least
> right now, I'd be hostile to any plan that did not somehow include
> cooperative arrangements.
>
> --Paul
>
>
> John Wason wrote:
>
> >At 12:33 PM 08/23/02 -0500, Sascha Meinrath wrote:
> >
> >
> >
> >>Finance Group Meeting Minutes (8/21/02):
> >>
> >>Attending: Paul R., Sascha M., Mike L.
> >>
> >>
> >
> >[ ... ]
> >
> >
> >
> >>Buying the building: due to a family emergency, the Beavers would like to
> >>sell their building ASAP; the finance group discussed this issue and some
> >>length.  Generally, the group supports the idea and the following concerns
> >>were raised:
> >>
> >>1. Lasers Edge would like to sign a long-term lease on their space.
> >>2. Landlord status could be construed as counter to the IMC's mission and
> >>barter agreements (instead of rent) should be encouraged if fiscally
> >>possible.
> >>3. What is the state of the roof, water dammage in the northwest corner of
> >>the building, and the front facade -- are any of these concerns pressing?
> >>
> >>
> >
> >With regard to number 2 above, I'm wondering what is the precise nature of
> >the concern.  For tax purposes, the IRS construes barter in exactly the
> >same way that it construes cash transactions.  But if you take the income
> >from rent and put it into the eleemosynary work of the IMC, you're still a
> >non-profit organization.  And frankly, the IMC needs all the cash income it
> >can get to help defray (a) the purchase of the building and (b) normal
> >monthly operating expenses.
> >
> >John
> >
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> >
> >
>
>
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