Buying and moving to the Tyrone Building PDF Print E-mail

Official Information

Minutes of Emergency Board Meeting of April 17, 2011

Note from LASFS Treasurer Elayne Pelz

The LASFS has a new building!

Our thanks go to our wonderful agent, Daniel Meyers, of Marcus & Millichap, who stuck it out through all my foibles, problems and broken ankle! If anyone needs Business Real Estate Help, contact Daniel at 818-212-2778.  Thanks Daniel! 

Another Unofficial Info Item Contributed by Marty Cantor

NEW BUILDING SPECIAL MEETING -- May 1, 2011

The LASFS Board of Directors today held a Special Meeting to discuss our proposed new building.

We heard (and commented upon) the report of the building inspector. He had found lots of small things which needed fixing - and our own untutored eyes had already seen some of these things. He mentioned that "This is a very nice building with some minor glitches."

We then looked at drawings of the current layout of rooms and discussed several proposals for how we would make any changes to get what we want in our new clubhouse. All of the Board members gave input on this, as did several of the club members in attendance. Granted, there may be changes as more things are found in the new place and more members give us usable input. Still, we decided upon a basic layout for the new clubhouse.

At which point the there was a motion to buy the building. This was seconded and passed. There was then a motion to renovate the building as per spec, before we move in.  This was also seconded and passed.


A few photos of the new building by Marty Cantor

More photos, posted by Karl Lembke
(Karl is Chairman of the Board of Directors)

Unofficial Info
Contributed by Marty Cantor

NEW BUILDING SPECIAL MEETING -- April 21, 2011
(Marty is secretary of the Board, but neither his pictures nor these notes are in his Official Capacity)

I did not take notes nor did I take minutes, but here is some information about what happened at tonight's LASFS meeting

The meeting room had standing room only as a lot of members showed up to see our plans. Elayne had some very large blow-up photographs which were displayed in various parts of the room. I had some 8.5 x 11 photographs I put on the Treasurer's desk, and set up my laptop on the food table with a continuing slide-show of the 31 photos I took, and the CD of my photos was put into Rob's computer and selected shots were shown on the large television screen.

Before the meeting started, various board members answered many questions from the members; and, after the meeting started, when we got to new business, Christian McGuire got up, made a few opening remarks, and then turned to a question and answer session where many good and penetrating questions were answered by the appropriate Board members.

Elayne Pelz mentioned that there was another person interested in this new building, so she made an offer of $525,000 for the building, the offer was accepted, and she signed the agreement. We can back out any time up to 15 days from today. In response to a question, Elayne mentioned that our current building was sold for the same price but the Real Estate agent's cut and other fees have brought us down to $490,000. But we do have money in the Century Fund and there is enough to pay cash with no money-eating interest rate and still have money for the initial remodeling work.

After awhile, when it began to appear that we were going over the same ground, member Ed Green moved (and was seconded) that the members accede to the actions of the Board and that the Board keep the members apprised of developments. This motion was passed, unanimously.

We have purchased a new building.
-
Marty Cantor


MORE UNOFFICIAL INFO

contributed by Karl Lembke to the LASFS Community on LJ, not in his official capacity as Chairman of the Board of Directors of LASFS, Inc.

The April 21 meeting has come and gone. We presented photos of the new building, and had a fairly lengthy question and answer session. It was moved, seconded, and voted that the Board handle the issue of the new building as it sees fit. In other words, go ahead and buy it, provided the inspector doesn't find any deal breakers on his inspection.

There will be a 45 day escrow, starting April 21. So on June 6, a Monday, we should be able to take possession and start moving stuff into it. We will have a tour for the members of the club shortly thereafter.
And with enough room to restore the socializing space outside the meeting room, we may even attract back the old members tired of the same old goings-on in meetings.


Notes on the New Building special meeting

Contributed by Elena Dent (with minor corrections by Marty Cantor)

I went to the LASFS meeting where the New Building was discussed and took notes.  Here is what I found out/heard/understood.

The new building seems to be double the size of the old one.  It's on the corner of Aetna and Tyrone, a block or so west and north of Van Nuys and Oxnard.  It's cattycorner to the Orange Line parking lot (which the current tennents have an understanding with the entity controlling that to use some spaces).  The Orange Line runs across the street from the new building and the station's about a block away, they say.  The Orange line runs "until midnightish", they say. 

Parking currently is no worse than what we've got now, and if the understanding with the Orange Line Powers That Be can be continued it will be splendid - close and well lit.

The new building looks like two and currently has a dividing wall because two tenants are using it now - a furniture restorer and a poker school.  The GoogleMap photo of the place is not current.  Escrow was signed this week (Tuesday or Wednsday?) but there is a 15 day back out free and pay no money clause.  Building inspection will be Tuesday and that will look at plumbing (old) wiring (dunno) roof (also dunno) fire code and stuff like that.  It is said that the building was renovated about three years ago but I don't know for sure what was involved with that.  [Marty Cantor notes: From looking at the old photo on Google Street View, after comparing it to what the building looks like now, aside from
painting the exterior, the west walls were brought completely out to the sidewalk and the north wall was done likewise.] Unless the building actually falls down during this inspection it will probably pass and the deal will go through.

The current clubhouse is already in escrow pending the club finding a new venue.  The club has 60 days to move PLUS another 45 days' rent free use of the place if needed to get everything out.  Whoever is buying the property is probably quietly planning on picking up most of the ratty little old buildings on the block and doesn't want to jump the price of the rest of the buildings. But that's just a guess.

There are many options for dividing up the space, since many of the internal walls are no more than light dividers.  What the club will get for the current property will cover buying the new property free and clear - no mortgage.  There will be money to pay professional movers to come get the stuff at LASFS and put it in the new place and to do some of the renovations desired.  The property has one handicapped bathroom already and that's fine but the other needs work to
enlarge it, both will be handicapped and perhaps they'll make them two hole or something, that's all doable.  There will be storage for stuff that should be in the kitchen.  There is currently a kitchen-like area, this may or may not be changed, improved, enlarged It is a light industrial/commercial zone.  There are no shops or restaurants extremely close BUT a quarter mile away are a tremendous number of places on Van Nuys Blvd.  The good news, no neighbors to annoy with late night stuff.  It's right across the street from a power substation.  Therefore security will be splendid, homeland security and all.  Someone knows a guy who works at that DWP power station and the friend reports that though there are a few bums around (what's new?) but there is no gang activity and the cops regularly keep an eye on the area so crime is low.  Parking on the street currently is restricted after 9pm, but perhaps that too can be mended.

This big building will do the following:
Double the meeting space.  Double the library.  Double the 'hanging out' space.  And will have enough space to store not only the contents of the shipping container, Monstro (which will not come to the new property) but will allow the LASFS stuff stored offsite, like about a third of the library, to come under one roof.

All in all it's a win all around.  The developers buying the current clubhouse get a very nice deal, they probably aren't paying what the property's "really worth" but what they're paying and the terms for getting out are suitable for LASFS's circumstances.  The club will get a property that's double the size of the current one, easy to configure to our desires, and its commercial drawbacks are not of concern to the club - we really don't need street traffic to do
business.  And the club will not go into debt to get the new property.

Considering how difficult this whole process is, I'm glad it's going forward.  The Board of the LASFS is doing this, but Elaine Peltz is the one actually running this cat herd and signing the papers.  I wish her good fortune, it's a tough job.

--Elena

Last Updated ( Friday, 23 September 2011 )
 





Lost Password?
No account yet? Register
NO ACCOUNT YET? Select "Register" on the menu at the bottom of this page.

Please read our "Welcome Message" and "User's Guide" before trying to submit a post.

LASFS Bookmark (2013 edition)

LASFS Bookmark