As we begin a new year the Board of Directors of the Leonard Helman Bridge Center wants to inform you that we have taken steps to improve the financial status of the Center. On November 7, 2013 we re-financed the outstanding first mortgage on the building which also paid off the additional debt owed to the remaining members of the LLC. Those LLC members generously forgave the interest due them from the date of their contributions to the LLC which amounted to approximately $11,000. We sincerely thank them for their support of the Bridge Center. We were able to secure re-financing at a good competitive rate without any guarantors or co-signers.
Most important barring any unexpected expenses, we should meet our current debt obligations without having to raise the cost of the regular bridge games at the Center. We realize that many of you do not know the details of our financial situation, but should you wish further information, please contact me or our treasurer, Joe Bruno, and either of us would be happy to explain the past or present situation to you.
We want to take this opportunity to sincerely thank the many individuals who have helped the Center in the past by contributing to the major initial fund raising efforts to buy our land and build our building; those who contributed during the building crises and those who continue to contribute to the activities of the Center with their financial support and active participation.
This is a very HEARTY AND HEARTFUL THANK YOU TO:
Phil Symcox who generously provided us with a large private mortgage.
Phil Essig, the treasurer of the Unit Board and catalyst in our refinancing efforts, who arranged interviews for us at local financial institutions so we could chop around and secure the best terms.
On behalf of all the Board Members
Joe Durlak, Board President
New Mentee/Mentor program continues April 13. Sign up for April on white board at Club.
Be sure to check Lessons page for details about learning opportunities at Club