FIRST UNITED METHODIST CHURCH

LEXNGTON, KENTUCKY

CHURCH CONFERENCE MINUTES

February 27, 2006

Rev. Paul Brunstetter, Senior Pastor welcomed the membership to the Sanctuary by saying he considered it a real privilege to be part of First United Methodist Church and asked that we begin the evening by singing a song.

Rev. Brunstetter informed the congregation a 70% vote was needed for approval in order to move forward with the purchase of the CMW property. That 70% vote figure was later modified to a 2/3^rd vote. Rev. Brunstetter requested a “voice vote” to the proposal: 2/3 vote of the people present be required to purchase the property. All ayes were heard, no nays were heard. Approved.

WELCOME AND CALL TO ORDER

Scooter Leonard, Church Administrator shared the entire purchase process has been bathed in prayer. He mentioned the appraisal was lowered due to the historic house being on the property.

Rev. Brunstetter opened the floor to a time of Questions and Answers such as:

· The grading of the parking lot.

· The quality of the historic house.

· What is the current debt of the church – Scooter said the current debt amounted to about $585,000 with probably $385,000 for vans and other items totaling to $845,000 debt and funded in the budget right now.

· Individuals need to determine how they will enter and exit the new parking areas and how accessible they are from where they live.

· We need to consider how this is going to impact our negative cash flow.

· Would the historic house be rented out for the immediate financial need and have possibility of future ministry uses? Scooter said we would need to rent it out for cash flow purposes right now but future use would be up to us.

INFORMATION SHARING

Resolution: That the Board of Trustees, for and on behalf of First United Methodist Church, Lexington, KY., be and hereby are authorized to purchase that real property described as: Being all of Lot No. 1 of the CMW Real Estate, LLP Property as shown on Final Record Platt, CMW Real Estate, LLC, S. Broadway, S. Mill & W. High of record in Platt Cabinet M, Slide 253, in the Fayette County Clerk’s Office; said property being known and designated as 300 South Broadway a/k/a 316 W. High Street for the purchase price of $2,200,000, the deed therefore to contain the appropriate trust clause as required by the Book of Discipline, subject to receipt of a title examination opinion acceptable to the Board of Trustees and that the Finance Committee and/or a representative thereof appointed be and hereby is directed to negotiate and secure financing for said property for up to $2,600,000 (purchase price plus appraisals, inspections, and other closing costs, improvements to the property, demolition of one building and first year cash flow deficit); such maximum loan amount may be increased to accommodate the refinancing of existing debt on the Andover property; and further that the Officers and Trustees of First United Methodist Church, Lexington, Kentucky be and hereby are authorized to perform such acts and execute all documents necessary and incident to carry out the purpose and intents of this resolution, including, without limitation, the incorporation of a nonprofit corporation for the purpose holding title to said real property as may be determined by the board of Trustees.

RESOLUTION

RESOLUTION continued…

Rev. Brunstetter called for the question, but first requested Meredith Clark, Lay Leader to pray before the ballots were passed out.

The ballots were collected and counted in the Sanctuary.

Paul Ferrell, Administrative Council Chair announced 90% of the vote approved the purchase of the property. The actual count results are as follows:

Total Votes	221
Yes	193	87.33%
No	28	12.67%
		100.00%

CALL FOR THE QUESTION AND VOTE

Rev. Brunstetter thanked everyone for their participation and closed the Church Conference with prayer at 8:10 p.m.

CLOSING

Respectfully submitted,

Joyce Miller

Recording Secretary