AGM 2018

Inaugural AGM Gabriola Island Community Investment Coop (GICIC)

November 22nd, 2018 at 6pm
PHC Dining Room

In Attendance:  Julie Sperber, Paul Grignon, Barry Patterson, Katherine Patterson, Bruce Batchelor, Bob McKechnie, Pat Smith, John Peirce, Alison Fitzgerald, Nigel Wells, Richard Strachan, Tom Cameron, Charlotte Cameron, Gerry Bowes, John Switzer, Burtt Fidler, Scott Colbourne, Fay Weller, Steven Earle, Lawrence Spero, Chih-Chao (George) Wu. 

  1. Welcome – Lawrence Spero 

Call to order by Lawrence at 6:03pm

Great  reception from the community for the idea of Gabriolans investing in Gabriolans.

  • Report of Directors – Scott Colbourne 
    • Founding members are Fay Weller, Scott Colbourne, Julie Sperber, Lawrence Spero and Peter George.
    • Our relationship with other investment co-ops has been steadily growing. 
    • Big push to sell memberships for the next 3 months
      • Regular ‘office hours’ for people to come and sign up in person
      • Social media promo
    • Pitch session/project after 3 month membership campaign 
      • Springtime target for the EOI
  • Report on Cooperatives – Julie Sperber 
    • 7 principles of Cooperatives from the International Cooperative Alliance
      • As per the AGM rule 8.02.01 the report of how GICIC has embodied these values is as follows:
      • Principle #1 Membership share was set as low as possible to make sense for an investment co-op and to keep membership accessible to as many people as possible.
      • Principle #5 we have shared info, through hosting speaker events, social media, the Sounder, the new website and a table at Cultivate.
      • Principle #6 Joint launch with the EmPower Gabriola Energy Co-op.
      • Principle #7 The GICIC was formed to be a tool for greater community resiliency, sustainability and autonomy.
  • Financial  Statement and Report -Fay Weller
    • Still some in receivables
    • 18 members that have provided payment for share with approx. 6 more coming in.
    • Advisory Committee will be looking at the proposals
      • The values of the people in the co-op will determine the projects that get funded.
    • The membership will be part of the financial committee, advisory group and the mentorship pieces.
  • Election/appointment of directors – Lawrence Spero 
    • Scott and Julie thank you for work up to this point.
    • Bruce Batchelor and Katherine Patterson have been nominated.
    • The nominees for board positions give a bried bio
      • Fay Weller, Peter George, Lawrence Spero, Katherine Patterson, Bruce Batchelor each give a brief bio about themselves. Lawrence read Peter’s as he was unable to be present.
    • The 5 nominees have been elected.
  • Waiver of Appointment of Auditor

Motion to move that this is not applicable for the GICIC at this first AGM meeting. 

Moved: Lawrence Spero 2nd: Bruce Batchelor

CARRIED

  • New Business
    • The term “resident” may need to be more clearly defined in the rules of membership.
    • Look for ways to be more inclusive as the membership fee of $500 is a barrier for some (young people). 
  • Adjournment 6:35pm

Motion to adjourn the AGM. 

Moved: Bob McKechnie 2nd: Steve Earle

CARRIED

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