Educational Trustees Meeting

In addition, there were drainage difficulties with the site as the hotel was built upon granite. The current car park area would need to be tanked, to provide an underground reservoir for the run- off water. This would necessitate an extra spend. It had been planned to expand the facilities and capacity of the Nursery, to accommodate 60 children (double the current number). It was thought that this would bring in £70k to the Educational Trust. However, the hotel appeared to have been subsidising the Nursery to a greater extent than had previously been thought, through previously shared services. As a result, the Nursery new build was now in doubt. There was a discussion over the farm track to be used by contractors for access to the building site. Again, this will inflate the budget for the total build.

There was a discussion of the possibility of additional house builds.

The build was now estimated to cost between £5 and £5.5 million.

£3.5 million was to be offered, upfront, by the GFTU.

The balance would be secured through loans. There was a discussion as to whether crowdfunding could be used as an additional source of revenue.

8. Ownership of the site.

The Secretary proposed that 2-4 of the members of the Educational Trust should become named trustees, in whom ownership of the property at Quorn should be vested. It was agreed that Doug Nicholls and John Smith would be the nominated Trustees. There was. However, the question of unlimited liability and a discussion took place around what the implications of this were for individual trustees. The Secretary undertook to explore the principle of limited personal liability and would ask Morrishes’ Solicitors to approach Wrighley’s in order to obtain a swift answer. He would also resolve the position on personal liability as regards the hotel and the nursery.

It was agreed to increase the insurance cover for all Trustees to £1m.

9. Agreement of Budgets

It was reported that the Nursery budget had not yet been decided upon.

All other budgets were ready, but discussion would be held over for the next meeting.

10. Secretary’s Report

A written report was submitted and circulated.

A 1% spend on art was suggested and discussed for the hotel new build.

The post of Education Administrator had been advertised and was, shortly, to be filled.

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