The regular meeting of the Stowe Cemetery Commission was held Tuesday, February 2, 2010 starting at 8:00 A.M. in the Banquet Room in the Akeley Memorial Building.
Members present: Leigh Tabor, George von Trapp, Donna Adams. Absent: Judy Demeritt and Joy Fagan. Also present was Omar Graddock at 8:30 A.M.
Members, as well as myself offer condolences to Joy on the loss of her husband Bill. We know that Bill has always supported Joy when it came to our Cemetery matters and we acknowledge and appreciate that.
Minutes of December 1, 2009: Ona motion by Mr. Tabor and seconded by Mrs. Adams, the minutes were approved with minor corrections.
Book # 2: Mrs. Adams told members that she had been in contact with Mrs Fagan and Pat Haslam to seek suggestions how to advertise the books. They are now on the town website; it is possible there can be a link on the Historical Society website and 16 letters were sent to former organizations/individuals who purchased book # 1. It was agreed that Mrs. Adams should not spend her time trying to promote the book, and it is hoped when Mrs. Fagan feels it is time to become involved again, she will pursue promoting the books.
Repurchasing of Lots: Nancy and Tom Bryant contacted Mrs. Adams seeking advice on how to sell back to the town the two (2) lots they own in Riverbank. Barbara Allaire sent a letter, along with the appropriate paper work to them in order to make this possible.
There has been no response to date.
8:30 A.M. Omar Graddock from Morgan Stanley:. Mr. Graddock explained the Commission’s investment situation from the past 3 years. There is presently $203,000 cash/money market (down 17%) He said the average maturity is 4.9 years. Mr. Graddock suggested putting more in international exposure (major companies) by adding another manager, which will enhance the performance. He is aware there can be only 35% in stock. Presently there is $37,000 in Union Bank at .4%. Members felt this action would be a good idea and discussed the amount to be transferred. Mr. Tabor moved to withdraw $25,000 from Union Bank account and transfer to Morgan Stanley. Mrs. Adams seconded the motion with all in favor. Judy Demeritt and Joy Fagan were not present. Mr. Graddock left at 9:10 A.M. tape 1 side 2
Rules & Regs Discussion: Mrs. Adams said 3 small brochure holders to go in Old Yard and West Branch have been ordered and received. Continue to look for a large kiosk type holder for Riverbank.
Re: large monuments, Mrs. Adams said at a workshop with Bruce Godin and Barbara Allaire, that Bruce said he would have a problem with a foundation accommodating a monument higher than 6’ being approved by the Commission without more knowledge. Mrs. Adams gave members an example of the possibilities, i.e. a couple could purchase 4 lots, which would allow an 18’ high monument, requiring a large foundation (but the Commission does not know how large and what it would require). Mrs. Adams suggested any monument over 6’ high, an engineer be required, whether it be the Town engineer or an outside firm to approve the foundation at the purchaser’s expense. Mr. von Trapp said he would prefer restricting the size of the monument- did not wish to see a very large monument (he gave an example of one in Hyde Park). The Commission agreed that Mrs Adams (and others who wish to attend) take different scenarios to the Selectboard to explain some of the logistics. Mr. Godin will be asked to attend as well. After the meeting with the Selectboard, the Commission, at their next meeting, will continue revising the Rules & Regs in order to finalize before spring.
The Commission will be sending a contribution of $50 to the William T. Jr. & Joy A. Lipman Fagan Endowment Fund at Special Collections, UVM in memory of Bill Fagan.
March meeting to be held on the 9th.
There being no further business, the meeting adjourned at 9:45 A.M.
