Presented at the Annual Meeting

May 10, 2011

FLORA COMMUNITY CLUB

PARK OFFICE BUILDING PROJECT

Club History

• LOOK WHAT WE BUILT!

•1925 -- The Flora Community Club built the Community Building, which was the site of one the finest gymnasiums of its time, and the site of many county and sectional tourneys. • The Community Building was located on the

same grounds where the “old school” sits, today.

•1934 -- the Club used WPA labor to fill low places in the park and install a stone parking lot.

•1934 -- the Scout Cabin was built by the Club using WPA labor

•1941 -- the Club built a furniture factory for VD Rider

•1946 -- the Club built the SAYCO factory

The Flora Community Club was established in 1923 by Flora business-men

The Flora Community Club has served the Community for more than 90 years by providing community activities and venues for the enrichment of the community.

Club History

• LOOK WHAT WE BUILT!

•1950 -- the Club acquired farm ground on the west side of Flora for future industrial expansion, some of which was later sold to Allegiance Wire, John Deere and Robo Car Wash

•1961 -- the Club built a factory building which later was the home to Allegiance Wire

•1967 – the Club purchased the “old” medical office building and expansion site (which is now the parking lot of the Library) and brought Dr. Carlos Amaya to the Community

From theFlora Indiana Centennial BookPublished, 1972

Sayco Building circa 1970

Flora CommunityClub – TODAY!

• Carroll County 4H Fair – The Club organizes “everything NOT 4H” at the Fair, including Merchant’s Building, Carnival attractions, Music Events• Carroll County 4H Fair – FISH FRY

– the Club’s most profitable fund-raising event.• Moonlight Madness – Town-Wide

Garage sale and downtown Street Festival • Christmas Parade – Brings youth

and adult organizations together for a parade of floats and Santa!• Touch-A-Fleet of Trucks –

Sponsored by the “KICK Team,” this family event brings heavy equipment to the Park for display and interaction

Still a strong

Presence in the

Community

Many projects to

Encourage and

Develop the

Community

New Opportunities

•Flora Park Building Project• 50-seat, high-tech, classroom space for meetings, educational classes, and presentations•Offices on either end• Carroll County Extension Office• Carroll County SWCD• Carroll County FSA

• Easy access to 4H Building for complementary use during the Fair and at other times when the blended venue would be helpful• 4H meetings, Ag Association meetings• Large Group meetings• Youth organizations

The Club has the opportunity to bring an office building and meeting space to the Flora Park

Concept DrawingProposed Flora Park Office

Front View – Flora Park Offi ce

Proposal for Flora ParkExpansion – Includes Park Office Building

Project Costsand Funding

• Costs• Target cost – between $100 and $125 per square foot• Total Cost – projected to be $600,000 to $750,000

• Funding• Financing – Discussion with local

community banks show that a loan of $470,000 could be supported by rent income• Grants – Grant applications to NCHS

are being developed to fund between $250,000 and $400,000 of the project.• Debt Service – Approximate annual

income of $60,000 in rent from the office space is anticipated• Community Support – Local

donations to the project would be welcome!

All information is at the VERY early stage of development

ClubAssets

•Approximately 20 acres of real estate located on the west edge of Flora• Currently cash-rent farm ground• Zoned and available for industrial development• Approximate Value (not appraised)

-- $170,000 •Cash Assets -- $ 67,177

•Total Net worth -- $237,177

Financial Resources

As of May 10, 2010

Logistics

1. Approval of Club Membership for project

2. Develop Contract with Town of Flora

3. Approval of County Commissioners

Contract for Lease of Space Negotiated

4. Approval of County Council5. Approval from State USDA

Leasing officeCurrently, evaluation of existing space requirements is being conducted.

When analyzed, proposals for space will be accepted by the State USDA Leasing Office

6. Funding ObtainedBank Financing

Grant Funding

Community Support

Lease Contracts

Steps beforeGroundbreaking

ClubMembershipApproval

• Section 8.02. Authorization of Expenditures. Any officer may make expenditures or obligations of funds of Corporation or combination of officers of Corporation as may be determined from time to time by the Board of Directors, with the exception that the Board of Directors or any officer may not commit the Corporation to the sale or purchase of Real Estate in excess of ten thousand dollars ($10,000) nor spend or commit more than ten thousand dollars ($10,000) or ten percent (10%) of cash reserves (whichever is less) without the approval of a majority of Members obtained at a regular or annual meeting for which prior notice is given for the proposed use or commitment of funds or resources.

Bylaws Require Approval by Members of a project of this scope

ClubMembershipApproval

• The Flora Community Club’s Bylaws provide a purpose that is consistent with constructing, owning, and leasing real estate:

• Section 2.01. Real Estate. To acquire, own, improve, manage, rent and lease real estate and including the ability to construct a community building and operate the same, all for charitable, religious and educational purposes and particularly for the betterment and education of the citizens of the Town of Flora and its environs; to borrow money for the improvement of said real estate and to secure any and all such loans by mortgage or otherwise.

Club purpose as stated in the Bylaws support a project of this type.

Action Requiredat Annual Meeting

• Possible Action by Membership –

• Approve – Grant the Board the authority to proceed with the project as outline.

• Approve with Conditions – Grant the Board authority to proceed with this project, but changes in the parameters which increase the projected cost more than 20% must be approved by the Membership

• Decline with Conditions – More information is needed before the project can be approved

• Decline – The Membership does not wish to pursue this project for any reason

The Board of Directors request the Membership provide direction and approval to proceed with this project.

Thank you for your attention!

ANY QUESTIONS?