WHITE MOUNTAINS LAND TRUST
Minutes of November 13, 2007

Board Members Present: Jim Anderson, Sue Sitko, Norris Dodd, Richard Remington, Dottie Baker Board Members Absent: Daryl Hagen, Roz Parkman, Barb Bechler, Lynn Krigbaum Also Present: John Vuolo

At 7:01 Jim called the meeting to order. A quorum was present.

The October minutes were reviewed. Norris moved and Jim seconded a motion to accept the minutes. The motion carried unanimously.

Norris presented the Treasurer’s Report:
Compass Bank Checking Account - $1,821.00
Compass Bank Savings Account – Save Our Park Campaign - $10,738.43
Wells Fargo Brokerage Account - $227,287.81
Wells Fargo Cash, Cash Sweep & Money Market Account - $7,163.34

Discussion followed regarding the minimal interest received on the Savings Account ($2.84). Norris will research other options. Jim led a discussion regarding whether to hold the blue chip stocks in this volatile market, or transfer to a more secure investment. Example, Government Bonds must be held a minimum of one year. Also, there is a cost for transfer. The stocks which we hold are paying well, and promise growth. It was agreed to hold onto the stocks as they are, and track the status monthly. Sue moved that we review in 30 days, and Richard seconded. If Jim receives a call from his broker recommending change he will e-mail the Board members. Norris recommends placing the dividends from the brokerage account in the money market account. Jim will follow up on this.

The proposed amendment to the bylaws, to allow vote by proxy, was discussed. It was agreed to accept this amendment, and Morgan Brown will prepare a proxy appointment form. Sue moved to accept this amendment, and Richard seconded. Jim will work with Morgan Brown to develop a proxy statement template for Board members to use for selecting and announcing proxies. At this point, Board members should be aware that proxies are now part of our standard procedures, and can be utilized for our December meeting into the future.

Norris gave an update on the Open Space Committee. A problem has existed with the committee not being represented at the initial development review board. Tom Thomas has volunteered to be liaison, along with John Vuolo. Paul Esparza is at every meeting. The three departments are now plugged in. Norris is working with Eric Penrod regarding the land by Lakeside Summer Homes. Eric is to get back to Norris.

Sue gave an update on the acquisition effort for Woodland Lake Park. A letter will be sent as soon as it is approved by the Town Council to the Forest Service requesting consideration for all or part of the Park be given a Special Area designation, with the Town managing and being financially responsible for its management. It was pointed out that the Forest Service could utilize the area for educational purposes, and it is anticipated that the Town will receive the Forest’s decision several months after the letter is sent, possibly by late spring or early summer 2008. Sue and Kelly met with several County Park representatives from around the state, and representatives from the Trust for Public Land (TPL) to initiate statewide legislation to grant Arizona counties the authority to establish special assessment districts for the acquisition and maintenance of land for open space conservation and parks. This is one of the many alternatives the Town is researching for the acquisition of Woodland Lake Park. Sue will continue interfacing with this committee. The reps from TPL indicated that they would be happy to help the Town (and Navajo County) design a “campaign” for public support for this effort if this is determined to be desirable by the Town. The status of the Save Our Park campaign was covered in the treasurer’s report.

Dottie gave Norris a CD of photos taken by John Dougherty at the parade. She made a copy for the Blue Ridge science club, and asked that the Save Our Park committee send a thank you to John for his contribution. Morgan Brown reviewed the MOU between the Town and WMLT for the Save Our Park campaign as well as overall open space preservation in Pinetop-Lakeside. Consideration of the MOU will be at the Town Council meeting Nov. 15.

Sue reported on the monitoring of the Eagle Creek conservation easement. She had developed a beautiful written report, with color pictures and map, to be notarized. One copy is to be placed in the safety deposit box and one to Norris for IRS record. She reported on the cost of the monitoring visit, which totaled approximately $600.00 for transportation and meals.

WMLT received the final MOU from the Natural Resources Working Group, with 17 signatures, after 2 years. NRWG is working on a draft as to how the committee should react to the results of climate change.

Norris reported that he is working with Joe Hattrup on the Pine Lake Meadow development. Phase I is development around the lake. Proposed Phase II would be in a wetland which is the headwaters for Walnut Creek.

Jim adjourned the meeting at 8:45 PM. Minutes submitted by Dottie Baker, acting secretary.