Achieving Extraordinary Together: 2018 DCI General Meeting Highlights
Explore the highlights from the 2018 DCI General Meeting, including teamwork, council activities, buying and selling restrictions, council members' term ends, raffle, and profitability reports. Witness the collaborative efforts and success achieved through teamwork. Contact DCI for more information on investor engagement efforts, ownership opportunities, and election processes.
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Presentation Transcript
Welcome TEAMWORK Together We Can Achieve the Extraordinary 2018 DCI General Meeting March 8, 2018
INVOCATION CALL TO ORDER
Chair Report TEAMWORK Together We Can Achieve the Extraordinary C. Murray-Delaney Advisory Council Chair Diamond Community Investors
Updates Since Last Meeting Reports will provide updates on JCNI, DMI, DCI 2018 Taskforce Progress Investor Engagement Efforts; DCI Committees Salons & Workshops Ownership Opportunities Election Process & Results
Council 2018 Activities Worked w/ 2018 Taskforce Improved Working Relationship & Processes w/ JCNI Updated Investor Contact Information Recruited New Advisors Training on Buying & Selling in Process Conducted 10 Year Celebration!!!
Buying & Selling of Units JCNI is restricted by the SEC from conducting an internal market JCNI/DMI is permitted to repurchase units from deceased investors and their beneficiaries ONLY Per section 9 in the MCP Operating Agreement and sections 1.4.5 & 1.4.6 and 3 of the DCI Charter; Current investors may purchase units from other investors Current investors may sell units to Qualified Buyers* DCI members should contact DCIAC for information about purchasing or selling units and to review the process 619-450-4070 or dci@jacobscenter.org
THANK YOU FOR SERVING! OUR COUNCIL MEMBERS WITH TERMS ENDING TODAY; Joseph Kelly Marquis Snowden Cassie Murray-Delaney E.J. Hardieway Joyce Cummings
Directors Report Reginald Jones President &CEO, JCNI
Profitability Report Update A profitability report of Market Creek Plaza was requested to analyze and access the potential performance of MCP for the next five years. JCNI has engaged RP Valuation Group, LLC Dan A. Paulus, MAI Dan A. Paulus MAI specializes in solving complex commercial real estate problems through focused consulting or real property interest valuation complying with USPAP or UASFLA. He has extensive experience in market and statistical analysis, land use and feasibility studies. The profitability report will be presented at the Market Creek Partners Board Meeting, Monday March 12th We will like to extend an open invitation to the meeting
Financial Report Village @ Market Creek Yolanda Zavala CFO, DMI
Financial Report Market Creek Partners, LLC Statements of Assets, Liabilities and Member's Equity - Income Tax Basis December 31, 2017 and 2016
Financial Report Market Creek Partners, LLC Statement of Revenues and Expenses - Income Tax Basis Year Ended December 31, 2017 and 2016
Schedule K-1 What is in your K What is in your K- -1? your share of the partnership s income, deductions and credits. 1? The purpose of a schedule K-1 is to report What to do with my K What to do with my K- -1? preparer for them to use in completing your tax return. 1? Please provide your K-1 to your tax Questions? Questions? If you have questions about the amounts reported on the K-1, please contact us for an appointment.
2018 Purchase Status L. King 2018 Taskforce Chair
2018 Decision Point DCI option to increase our ownership % Currently 20% DCI, 20% NUF, 60% JCNI/DMI DCI has the option of not taking any action at all Includes Re-visiting the 2018 opportunity every three years There must first be a vote agreeing to take action or not Workshops & Investor Salons will be held to provide more information
TASKFORCE PROGRESS DEFINED PROCESS DEFINED DECISION CRITERIA CONDUCTED FINANCIAL REVIEW CONDUCTED RFP PROCESS FOR LEGAL COUNSEL & ADVISORS RETAINED COUNSEL
LEGACY CHALLENGE CAMPAIGN Sell 10 units to the next generation Your Son or Daughter Your Niece or Nephew Your Grandchild Start our Future Now! Focus on 18-35 year olds Keep It in The Family They have to Live. Work, Serve Here
2018 Next Steps WORK WITH ADVISORS ON ESTABLISHING ENTITY WORK WITH ADVISORS ON SEC AND OTHER COMPLEX ISSUES COMPLETE RESEARCH ON POTENTIAL OPTIONS TASKFORCE SUBMITS OPTIONS TO DCIAC TO DEFINE RECOMMENDATION CONDUCT APPRAISAL (DEPENDING ON RECOMMENDATION) CONDUCT VOTE (DEPENDING ON DCIAC RECOMMENDATION) COMPLETE TRANSACTION (DEPENDING ON VOTE)
2018 WORKSHOP PREVIEW N. Cooper Chair DCI Education Committee
GET INFORMED! 1 TOPIC; 2 FORMATS; Decision 2018 Recommendation Pros & Cons April Investor Salons- Informal, Q & A Sessions in Community Homes May/June Investor Workshops Presentations @ Jacobs Center
LOOK FOR NOTICES SIGN UP AND PARTICIPATE; DCI WORKSHOPS SALONS TOWNHALLS VOTING!!
Any Questions? Send email:dci@jacobscenter.org Attend an Education Committee meeting: 4th Thursday of the Month, 6:00 7:30 pm Room 389
2018 Election TEAMWORK Together We Can Achieve the Extraordinary Lee King Governance Chair Diamond Community Investors
2018 ELECTION ATTENDANCE QUOROM PROCESS CANDIDATES
2018 CANDIDATES Joyce Brown Marquis Snowden John Johnson Cassie Murray-Delaney Myra Burnett
Election Reminders We need a quorum for elections Make use of Proxy if you can t make the meetings We need qualified investors to run for Advisory Council and serve on Committees Last Few Elections required appointments Committee Chairs do not need to be council members
RESULTS! YOUR New Council Joyce Cummings (2019) Lannette Wilkes (2019) E. J. Hardieway (2019) Cassie Murray-Delaney (2020) Steve Lampridis (2020) Myra Burnett (2020 Joyce Brown (2021) Marquis Snowden(2021) John Johnson (2021)
Community Investment Fund Report Charlotte Jackson CIF Chair
Thank You TEAMWORK Together We Can Achieve the Extraordinary 2018 DCI General Meeting March 8, 2018
