Sean C. Morgan
The Sweet Home Economic Development Group Board of Directors has agreed to a proposal to front the money to School District 55 to purchase and install a sprinkler system in the community fields south of the high school.
SHEDG will provide $34,500, which includes payment for use of the fields for the 2003 Jamboree and the next two years.
Each year, the Jamboree pays a minimum of $6,500 for use of the fields plus up to $5,000 based on the profitability of the event. With this year’s profits, the bill is $11,500.
Under the proposal, District 55 will agree not to charge the Jamboree for the next two years. If either of those years is unprofitable, the Jamboree will receive credit toward its payment in three years.
“We basically package up the use of the field (for three years) up front,” SHEDG President Ron Moore said.
The sprinkler system will use more than 100 sprinkler heads with a 60-foot radius to cover the field. Pipes will be buried three feet down, and sprinkler heads will retract below ground level on a spring arm.
The project is a high priority for the district, District 55 Business Manager Kevin Strong said, and it would like the sprinkler system working by July.
The sprinkler system will allow the district to cut water costs and on manpower moving sprinkler lines during the summer.
The SHEDG Board met Wednesday night last week and approved the plan. The District 55 School Board still must make a decision on the proposal.
Present at the meeting were John Wittwer, Strong, Moore, Herb Heier, Linda Garcia, Beth Lambert and Ed Spencer. Elmer Riemer and Bruce Hobbs were absent. Strong abstained from voting on the proposal.
In other business, the board:
— Agreed to draft a resolution recognizing that the organization may exceed $100,000 in deposits at each bank it uses.
The group discussed whether it should go over that number, which is the amount federally insured by FDIC.
Spencer is receiving pressure from his committee to keep the accounts within FDIC limits, Moore said.
All of SHEDG’s accounts are below that limit right now except Key Bank, Spencer, the treasurer, said. “I didn’t worry about it. If Key Bank goes down, so is Safeway and other institutions.… I think Key Bank will be around.”
Strong suggested that when the Jamboree and SHEDG are not going to use the money for extended periods of time, like six months, SHEDG look to programs like Freddie Mac.
“I’m not losing any sleep being over $100,000,” Strong said.
“It seems to me the money is moving around too quickly to worry about it,” Wittwer said. SHEDG is not exposing any of its revenues to anything like the stock market where none of the money is insured, but the board does need to let SHEDG members know about this at the annual meeting.
The resolution should make a statement that “the risk is minimal. We’ve agreed to take that risk,” Wittwer said.
Sweet Home doesn’t have enough banks to spread its funds out under FDIC limits.
The board agreed to table the issue so a resolution could be drafted.
— Agreed to turn over revenues from the arts and crafts fair held during the 2003 Jamboree to the Sweet Home Beautification Committee. The fair netted approximately $1,350.
— Learned from Event Manager Peter LaPonte that the Sunday headliner for the 2004 deadline has been confirmed. He hopes to confirm one more then announce the names in time to do a Christmas promotion.