MASSACHUSETTS THROUGHBRED BREEDERS ASSOCIATION

Board of Director’s Business Meeting Minutes

April 15, 2010

Double Tree Inn, Waltham, MA

Chairman George Brown called the meeting to order at _7:40 PM.

Board Members Present	Absent	Guests
Brown, George – Chair	Clarke, Mathew-alternate	Brown, Arlene –Recording Secretary
Catapano, Frank	Janjigian, Armand	Robbins, Harland -Financial Director
Currie, Joyce-alternate	Joyce, Daniel	Robbins, Bill - Accountant
Emery, Velma-alternate	Rose, Gregg	Robert Currie
Ferguson, Meg	Spadea, Anthony/Treasurer
Loebelenz, Lee
Posco, Ken
Reagan, Kathleen
Salim, Adel
Stone, Ed

1.) Secretary’s Report:

The secretary’s report from March 18 was read and approved.

Motion to accept report: Meg Ferguson Second: Lee Loebelenz.

Objection: None Abstain: None

2.) Treasurer's Report

Bill Robbins presented a report on the financial condition of the organization. He reported that we are 14% below our income level from last year but feels we can still go with 8 stakes races. Bill suggested that if the slots bill is signed into law for next year, the Board should consider getting an unsecured line of credit between $100,000 - $200,000 and run 12 stakes races. The loan could be paid off out of next year’s anticipated revenue.

Motion to accept treasurer’s report: Lee Loebelenz Second: Meg Ferguson.

Objection: None Abstain: None

3.) Chairman’s notes and comments

a. George Brown reported that the House passed the gaming bill 120 to 37 which is more than enough to

override a governor’s veto if there is one. The bill was very favorable to the breeders and saving open

space.

4.) Old Business

a. Golf Tournament 2010

All members were asked to try to get 3 hole sponsors for the charity golf tournament to be held August 5.

Arlene has tried to make contact with Eileen Aviza but has not been able to. She will contact Armand

Janjigian to see if she is still the contact person for the tournament.

b. Voting Procedures

Kathy Reagan reported that she will be attending a meeting in KY in May and will collect information

on other organization’s voting procedures. Harland Robbins expressed opposition to changing them

which was duly noted. A motion was made to wait for Kathy’s report from the KY meeting and then the

committee of Kathy, Meg Ferguson, Gregg Rose and Lee Loebelenz will make recommendations.

Motion: Lee Loebelenz Second: Frank Catapano.

Objection: None Abstain: None

c.) Contract signing

Contracts were signed by Bill Robbins and Arlene Brown for the 2010 season.

d.) TOBA nominees

Several names were put into nomination for the TOBA breeder of the year award. A vote was taken and

the TOBA Breeder of the Year will be Adel Salim. Congratulations to Adel.

5.) New Business

a. Retainer for a lawyer

George Brown brought up the question about retainers – what they were and should the organization

have one? Kathy Reagan explained the purpose of having one. It is like having a lawyer on call for

whenever he/she is needed. The average retainer is between $1000-$5000 and it is used by the lawyer

whenever they do work for the organization. Most lawyer fees are around $200 per hour for work done.

b. Other new Business

A motion is made to send Armand Janjigian a fruit basket. Arlene will take care if it.

c. Harland Robbins asked if MTBA wants to

1. sponsor a hole for Al Balestra’s charity golf tournament

2. Send a check to reserve the booth for next year’s Equine Affair

3. Send MTBA dues to TOBA for the ensuing year

Motion to do all 3: Adel Salim Second: Lee Loebelenz.

Objection: None Abstain: None

6.) Next Meeting

Date: MAY 20, 2010 Time:__ 6:30PM ______ Place:___TBA__________________

7.) Adjournment:_8:55__ PM

Motion to adjourn: Meg Ferguson Second: Lee Loebelenz__

Respectfully Subitted:

Arlene Brown