June 2018 Luncheon Notes

Luncheon Meeting Agenda                                                

Thursday, June 14th

Called to Order:  11:50

In Attendance: 16

1- Introductions

  • D. Valentine – Washington County Land Use & Transportation
  • L. Klingsporn – School to Career
  • T. McCampbell – School to Career *
  • S. Helms – Norax
  • J. Sievert – Reedville Presbyterian Church
  • A. Oliva – Northwest Chinese Academy
  • A. Terrones Washington County Sheriff Office
  • J. Doane – Aloha Community Library Association
  • J. Doane – Tualatin Valley Water District
  • D. Atkins – Keybank
  • L. Taylor – Willamette West Habitat For Humanity
  • S. Rennie – Schmidt & Yee
  • M. Schmidt – Schmidt & Yee *
  • M. Holcomb – Holcomb Computer Service *
  • S. Fabre – Agape Community Insurance *

*ABA Board Member

2 – Board Report – Sally Fabre

  • Town Hall Meeting / THPRD Concert in the Park
    • Last Board Meeting – discussed Town Hall results. 38 were in attendance all in attendance felt heard. We will have more as the need arises.
    • ACFM – we are buying a 10 x 10 canopy and banner
      • Need to look into Liability Insurance?  Do businesses here have a general liability policy they can use when using ACFM Member Vendor Booth, or does ABA need to carry their own?
    • NO Board Meeting in July
    • Arnold Park – THPRD Concert in the park – 6-8 pm July 12th
      • Members can sign up to man booth or provide handouts along with Sally

3 – Committee Reports

    • Treasurer Report – Mike Holcomb
  • $1628.04 funds available in the bank.  
        • Cash Flow for April was $820 in and $596.40 out
  • Membership
  • 7 Renewals, 2 New Members
  • Renewals:
          • TV Highway Chiropractic
          • Washington County Commissioner Dick Schouten
          • JIL Development
          • Westside Community Church
          • Farmington Mall Shell
          • Songbird Healing Arts
          • Aloha Community Farmers Market
  • New:
          • Northwest Chinese Academy
          • ComforCare
  • Community Partnerships / Communications – Brian Merritt – not in attendance 

 

4 – Featured Speaker – Michael Schmidt & Scott Rennie – Business Succession Planning

  • Approximately 15 million workers identify as “Self Employed”  (10.1% of workers nationally)
  • Oregon has a rate of 13.4% approx.  
  • Business Succession Planning is creating the mechanisms and procedures for transitioning your business to the next generation.
  • Planning Team – CPA, Financial Planner, attorney – your businesses is in the middle of the 3 (venn diagram example shown)
  • Basic Documents include
    • Corporation- articles of incorporation, bylaws and shareholder agreements
    • LLC (Limited Liability Company) – articles of organization, operating agreement
    • Partnership – partner agreement and business trust
    • Estate Planning – Will or Trust, advance directive, power of attorney.
  • Assess your situation
    • Evaluate your management team and key employees
    • What is your ideal continuation plan
    • How is your family integrated
      • No family, adult famly, children, nieces/nephews
    • Who do you want to take over
  • Pilotage and Dead Reckoning
    • Business Structure Assessment
      • Solo entrepreneur or multiple owners
      • Entity type
      • Organizational documents (operating agreements, bylaws/shareholder agreements, etc)
    • Business Assets
      • Real Property
      • Tangible assets – equipment, machinery, inventory
      • Intangible assets, customer lists, goodwill of business, intellectual property, trade secrets
    • Assess value of net worth
      • Real estate
      • Personal property – significant value $ or memory
      • Semi liquid assets/assignable assets
      • Liquid assets – cash
      • Debt
      • Cash flow
  • What now – amend or redraft documents – reflect the goals you’ve established in your review
    • Required buyouts insurance policies for beneficiaries, naming successors
  • 3 years is a reasonable amount of time to make assessments and begin transition docs.

5 – Spotlight Speaker – Dyami Valentine with Washington County Department of Land Use & Transportation, presenting on the Moving Forward TV Hwy Project!

  • Enhanced transit and access plan
  • Long term studies being done.  
  • Missing sidewalks and bike lanes are issues
  • Looking into enhanced transit – signal improvements, reduce delay at intersections, improvements to receive dwell time (bus lowering/raising, bikes, etc)
  • Key intersection widenings and lane improvements such as BAT (Business Access Transit) lanes and or que jumps
  • One year study started in February, refinement begins June, concept and plan start October
    • Looking for engagement such as online open house, community town hall, etc
  • Community feel is that we keep hearing about these updates and changes but thats all we hear and see.  Study after study gets frustrating but it helps to know the studies get distilled down to reality.

6 – Spot Light Business of the Month – Farmington Mall Shell – (drawing held for gift card – Tabitha McCampbell won

7 – Announcements –  

  • THPRD Concert in the Park – Arnold Park 6-8 pm July 12th
  • Summer Reading Program starting up, come in and sign up
  • Library offers online classes at no charge
  • Reedville church – 2 summer community BBQs (table in the yard) (July and August)  
  • TVWD new line going down Kinnaman being redirected out of Aloha area
  • K9 Trials June 30th 11am – 1pm
  • Baskin Robbins Scoopin with a Sheriff – Shop with a Cop fundraiser coming up August 31st 4-8 (bike helmets)
  • Northwest Chinese Academy “mini carnival” June 23rd.  

Adjourned 1pm

Next Meeting:  Thursday July 12th, 2018

2nd Thursday of every month, 11:30 AM to 1:00 PM at Peppermill Restaurant  

Please invite someone to join!

The ABA Board would like to thank

Schmidt and Yee for hosting our Board Meetings

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