2013-07-23-CFC-min - Laserfiche WebLink

Browse Search

13. Educational Programming: Please clarify how Lexington residents will be given preference in educational programming. We will consult with the committee to determine which of the following would be valuable for the community: - One of our goals is to find local educators to conduct classes or seminars. All else being equal, we will give preference to instructors from Lexington - Opening up early registration for Lexington residents - Discounted admission to the model Farmyard - Discounted price for FarmBucks 14. Exceptions to RFP/Lease Agreement: We are aware that you have some concerns regarding the release of financial information and the inspection of the buildings located on the farm. In the Town's response to bidder questions, dated May 9, we did explain requirement for financial documents and allowance for inspections. After reading your proposal those concerns resurfaced and we would like to be clear on whether or not you intend to: 1) submit annual financials; and 2) require any further information regarding the inspection of existing structures (as we as the Town have nothing to disclose at this time). - Thank you for clarifying this requirement during our meeting. We are willing to give financial statements in order to provide a picture of the financial health of the business. At this time, they will not be audited, we will provide printouts from our accounting software (Quickbooks). Noel's education and work experience in accounting provide the skills to do our own bookkeeping and accounting. - Yes, we would like to pay a professional to conduct an inspection of the structures and get an understanding as to what it will take to "do business" — it is possible that the property has not been inspected for adherence to code, and if we are required to maintain it to local code, we need to understand what costs that would entail. We did not do this prior to submitting our proposal because we did not want to assume the expense if our vision for the property wasn't compatible with the intended use. We understand that it will be our financial responsibility to remove or maintain the structures. If that expense is projected to be significantly more than anticipated revenues, we may need to re- consider our application. 15. Financial Capacity: Can you provide more information on your finances year -to- date? Specifically, what caused you to go into deficit in 2011 and 2012 and how did you finance the operating deficits in 2011 and 2012? and what changes have you made to result in a projected positive results in 2013 and what are you 2013 results year -to -date versus projections? - 2011 deficit — initial costs, no established market. Costs were self - financed, the deficit was small 7