Minutes

FoHPS Emergency Board Meetings March 29, 2021

FoHPS Emergency Board Meetings – March 29, 2021

The FoHPS Board met for emergency meetings to discuss potential settlement with the Holland Group which intends to develop the old Kmart site in the Town and Country shopping center.  Sean Doorly served as FoHPS Secretary for Laura Robbins, FoHPS Secretary,  who was not present.

Upon the following motion:
(1)    You have thoroughly read and understand the Settlement Agreement and its attachments;
(2)    You have had the opportunity to ask the attorney FHPS retained, Lisabeth Rothman, any questions related to the Settlement Agreement;
(3)   You are satisfied with the responses provided to any questions posed or have waived your option to ask any questions or seek any clarifications;
(4) You agree and understand that FHPS Board Members who are practicing attorneys, including, but not limited to Shanon Trygstad, Isack Fadlon, Danielle Schenker, Andrew Jhun and Daniel Kolodziej, have not served in any legal capacity when the terms and conditions of the Settlement Agreement were discussed and decided upon;
(5)   You understand the requirements of non-opposition by FHPS Parties as stated in the Settlement Agreement;
(6) You understand your duties and obligations as a FHPS Board member under the Settlement Agreement;
(7)   You understand that FHPS will receive $3million (in 4 installments) as consideration for performance of the obligations under the Settlement Agreement; and
(8)   You understand an affirmative vote will bind the FoHPS Board to all Settlement Agreement terms

The majority of the Board approved the settlement agreement negotiated with the Holland Group which in part provides for incremental donations to FoHPS if the construction proceeds as agreed and which, when paid in full, will amount to a total donation of $3,000,000 to FoHPS.