Carla Braswell reported that a balance of $44,008.50 is the Prudential Securities money market account balance for December 2001. Carla Braswell provided the board members with an overview of the hardships that the Executive Committee is experiencing.   Lynn Hunter has been ill and unable to participate.  Kathryn Lustig has verbally resigned as Secretary, due to increase business commitments and family illness.  A formal letter of resignation will follow to fellow Board members.  Bill Garcia has resigned as Treasurer and Board member due to increase time demands from his business and unable to dedicate the amount of time that would be necessary to carry out the Treasurer duties.  A letter of resignation will be forwarded to the Board.  Carla explained to the Board that the income statement was not current due to the extenuating circumstances with other Board members. Carla appealed to the Board for assistance to get the HBP financial records finalized for income statements for the Board and the annual audit.  Comments from the Board were supportive of Carla’s plight and a motion by Joan Wicklund, second to the motion by Kathy Armstrong with all present in favor of deferring the Treasurer’s report until the annual meeting and soliciting an finance professional to bring the HBP financial program current.  As only (8) eight voting members were present at the meeting additional votes were obtained through fax, e-mail and phone.  Adding their vote to the action of those present were L. Hunter, J. Koenig, K. Lustig, D. Stafford.  Remaining Board members could not be reached for their support.  Ten (10) votes are needed for action.

A financial summary and spreadsheet of the HBP marketing sponsorship event income analysis was presented by Carla Braswell to provide the Board with the various income and expense items during 2001.  There was a total allocation of HBP funds for professional services of $40,000.  Total cash revenue was $47,249; and total barter revenue $30,250 (barter includes various signs, banners, TV, radio, public relations).  The total HBP expense investment of $40,000 was recouped through the cash revenue of $47,249, which adds $7,240 to cash income.  Total marketing revenue $77,499 was invested to promote Highlands as a destination.  The summary outlined the following contract information:

First contract period April 2000 through April 2001 there was $19,710 in cash revenue

The Treasurer's Report will be deferred until the annual meeting, March 2002.  Discussion during Executive Session outlined the issues surrounding production of an income statement.  The Prudential Securities money market account balance for December is $44,008.50.  The BID Ordinance amendment is in process with the Mayor and Council and the HBP Budget 2002 will be introduced after the completion of the Ordinance Amendment.  The 2002 HBP Budget will be retroactive to Jan 1, 2002.    The Ordinance amendment is required to change the language in the Ordinance regarding properties included in the BID District and also adds properties to the schedule B list of properties that were omitted, as they were misclassified.  This has occurred after the Highlands’ Tax Assessor reviewed the master sewer list for properties with five or more units/sewer hook ups.  The annual audit will be completed through the professional services of Wiss and Co.  The 2001 audit of HBP must be completed by April 2002. 

Executive Committee - Hunter, Braswell, Garcia, Lustig

The contract review and litigation overviews were reported in the Executive Session. Board circumstances involving illness and increased business demands have rendered Carla Braswell solo during the month of December, 2001 and January 2002.  Action was initiated in Executive Session to assist Carla.  Carla called upon the Board through to assist her in corporation business by naming Joan Wicklund as acting Secretary from January through March (Annual Meeting and Officer election).  The motion was made by Sherry Ruby, second by John Tedesco with all in favor approving the motion.  As only eight members were present, a e-mail, phone and fax vote was undertaken.  L. Hunter, J. Koenig and K. Lustig voted in favor of the motion.  Joan Wicklund will assume the duties of the Secretary on the interim basis until the Annual Meeting and election of Board members and Officers. The Mayor and Council have replaced Councilman Robert Rauen as Borough representative to the BID and replaced with Borough Administrator, John Tedesco.  Everyone welcomes John to the Board of Directors.

Summary of the HBP Annual Meeting process as follows:

1/4/02               2002 Nominating Committee:  J. Koenig, S. Ruby, C. Braswell

1/12/02             First Annual Meeting & Election noticed Asbury Park Press, Courier, Web

2/2/02               Second Notice to newspapers

2/4/02               Nominating Committee reports findings

2/15/02             First Notice mailed to membership informs of annual meeting, call for petitions for nominations

2/25/02             Close of petitions for nominations must be received by fax with endorsement as per bylaws

3/1/02               Second Notice mailed to membership informs of annual meeting and final slate of candidates

3/11/02             Annual Meeting and Election

Committee Reports
VIC - K. Armstrong, Committee Chair
Parking Design Maintenance Beautification Capital Improvements

HBP Banner Program future projects include banners for Bay Avenue through the work of ACI and sponsorship. This will be a marketing and sponsorship opportunity for HBP.  Preliminary costs have been discussed and they include $150 install, bracket, name cost; HBP sponsor cost one year - $295, three years $395; Outside sponsor cost one year $395, three years $495 with 10% discount for 5 or more.  There is $8,000 sponsorship income potential in this project for HBP. The Holiday Decorations have been stored in a special shed (formally NPP) where new brackets and hangers were installed to prevent damage during storage.  Carla Braswell worked with the Borough to re-organize and clean up the Grand Tour storage area.  A walk through with R. Robertson, K. Shaw and M-Tech Electric – Mark Mariety will provide a list of electric issues for 2002 events in the park areas (Huddy, Veterans, Ederly).

Economic Development - R. Mumford/B. Duncan, Committee Co-Chairs

The Borough and HBP awaiting a determination of the Smart Growth application for funding a Strategic Revitalization Plan.  K. Shaw commented that this represents the single most important initiative that HBP and Highlands can undertake to make business recruitment effective and productive.  Making the environment predictable will ensure success for both parties and we will able to define our design and planning parameters ahead of time; and simply implement without arbitrating each new applicant or expansion.

Marketing/Special Events - Co-Chairs L. Hunter and C. Braswell

Advertising “destination Highlands” in the Asbury Park Press with “Sweethearts in Highlands” was presented.  The cost for advertising is as follows:  $1,588 half page one color ad for placement Saturday 2/9/02 On The Run Section including Wednesday edition 2/13/02 and Thursday 2/14/02 Middletown Reporter which includes coverage in Highlands, Atlantic Highlands, Middletown and Holmdel.  Discussion from the Board was based on providing all businesses some benefits.

A coupon approach for Highlands BID Bucks will be incorporated into the ad, which features food, beauty, spa, gifts, B&B experiences for a Valentine’s weekend showcase of what you can do in Highlands.

ACI has met with Carla Braswell and Kathy Shaw regarding the 2002 events calendar in order to streamline issues, electric, approval process, signs, banners, advertising, vendors, entertainment, etc.  The DNJ Awards held at Stevens Institute in Hoboken, for HBP Destination Marketing,  was attended by Ken and Carla Braswell, Kathy Shaw. John Tedesco and Betty Slobcek from ACI.

HBP Newsletter deadline for Committee Chairs is March 1 for April 1 publication date.  The newsletter will feature our Annual Report accomplishments and future objectives, including new business spotlights.

K. Shaw reported that a inventory of signs for ACI production of events is underway to get changes and new orders underway.  The same process is underway for the Highlands WayFinding Signs.  HBP has requested from the Borough a inventory of grants, “wish list” of Borough projects for HBP to coordinate efforts towards implementation.

Action Items:

A.
Asbury Park Press Ad $1,588 "Sweethearts In Highlands"
A motion to approve the ad was made by J. Tedesco, second to the motion by C. Braswell to approve the expenditure to place the ad as a Highlands destination ad for Valentine’s Day – a winter promotion.   A discussion was held with questions from K. Armstrong and R. Mumford regarding a tracking system to know if the ad was successful.  Also suggestion were made to reduce or elimination Highlands Business Partnership and enlarge …..Make Highlands Your Valentine’s destination….  Text that referred to ….mention ad and get discount or gift was discussed with a conclusion that J. Wicklund and C. Braswell will work on the wording to include some mechanism for “Highlands BID Bucks”.  Lynn Hunter created the concept that was used for the Re-Discover promotion that provided HBP BID funding for a specified amount for use in any Highlands Business that can be redeemed through HBP for instant cash from the HBP Business Operator.  After discussion a call for a vote produced all in favor with qualifiers to be fine tuned by Braswell and Wicklund.  As there were only seven Directors present for the vote, outreach to Board members was made by e-mail, fax and phone.  L. Hunter, J. Koenig, K. Lustig voted yes to approve the ad with qualifiers outlined above.

B.
Annual Report/Accomplishments2001/Objectives 2002 approval for mailing to membership and place on website
HBP members present approved the HBP reports for distribution as outlined.

Old Business: 
none

New Business: