Bulletins - 2009 - 09/16/2009
This
Week's Bulletin Was Written
By William Meade, Jr.
President Karen Green called the meeting to order at 7:30am. Gary Green led us in the Pledge of Allegiance and Dave Smith gave the invocation. This was a thoughtful prayer prior to the start of our meeting. Rosalie Kramm led us in song, with Happy Days are here again. Everyone’s ability to recount the exact words was a challenge, however the spirit of the song filled the room.
Scott Carr was the Sgt. at Arms. Tickets were raffled. Winner: Pete Tereschuk, cash payout. Brags included: Gary Green discussing the correlation between wife, Karen’s, presence versus absence during the Charger game with lead changes between the two teams. Sandra Schrift announced a cat for adoption. Some basic characteristics are that the cat is black with green eyes. Rosalie Kramm turns 49 this week. She plans to spend part of her birthday week with the CEO of Zappos. Jeramy Larson had a successful fundraising golf tournament, raising money for the local Boys and Girls club.
Chris Jacobs announced our guests including: Thomas Lewis- downtown Rotaract, Bob Angelo, Wendy Patrick, Tom Larameire, Bill Havrineck (guest of George Mullin), Allison Whitney (guest of Jonathan Stone), and Ryan Ponsfero. Welcome to all.
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Jan Goldsmith, city attorney will be a future guest speaker.
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10/7 - off site meeting including a full breakfast at USD the meeting will include a 40 minute documentary on the eradication of polio.
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Another future guest speaker will be a transplant surgeon who facilitated Karny Stefan’s donor transplant.
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10/15 - Mel Gallegos announced the next district meeting at Tom Hamm’s Lighthouse.
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Barry Kohn gave a personal account of the Rotary Foundation meeting. One of Rotary’s latest projects is focussed on purifying the drinking water in developing countries. The background for this new endeavor is that charitable surgeries were being performed in Sub- Saharan Africa and people were subsequently dying. The cause was polluted drinking water. Secondly, Barry discussed “charitable remainder trusts.” This financial planning strategy allows an individual to sell real property through rotary, defer capital gains taxes and create an inheritable income stream for the next generation.
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Dave Ferguson - provided an update on Holes for Heroes. If you plan to attend dinner without golfing, please to pay in advance.
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Jeramy Larson - membership update.
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Condolences to Nancy Vaughn whose mother is recently deceased.
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10/8 Sammy Event details provided by Gary Green-- $42 tickets include a drink and meal at the Prado. Limited spaces available. Contact Gary or Pat Cowett.
Introduced by George Mullin, author of “Move Chargers to Del Mar Fairgrounds (http://www3.signonsandiego.com/stories/2009/jul/12/move-chargers-del-mar-fairgrounds/)” discussed his article and provided background on our guest speaker: Mark Fabiani, Special counsel to the San Diego Chargers.
Key Highlights
- The Charger organization has been to the communities needs and concerns regarding the chargers. Supported by improved community outreach, creating a viable private finance option for the new, which is unique to the remainder of the football market. The majority of other teams are able to obtain public financing.
- The current stadium site is dated and is a huge drain on taxpayers. land is 166 acres, and could be used for something else that could potentially generate new revenue for the city.
- Rationale for building a new stadium is to remain competitive with large market organization, which have greater access to capital to attract and retain star players. Currently, the gap between medium market teams, like the Chargers and large market teams ranges between $75M and $150M.
- Options for construction of a new stadium in San Diego are limited. The search began over 7 years ago. The construction of the new stadium will be an historic event, being the first time a multibillion dollar stadium will be built with only private funding. This will be accomplished with a hybrid financing plan of equity use of the team, joint venture facilitation, capital fundraising and loans.
- Currently, the organization is looking at sites in Oceanside and Escondido. They are also exploring other new city options, such as downtown and the marine port. There was a previous deal proposed to move the Chargers to Los Angeles, but this was reportedly declined by Charger ownership.
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