Photo by Taavi Tamtik (2017)
Reede, 04 August 2017 19:30
Estonian Life No. 31 2017
Recap... The "3 Org's", (Tartu College -TC, Estonian Credit Union - ECU, Estonian Foundation of Canada - EFC) asked the Board of Estonian House to get shareholders approval to sell the Estonian House (EH) property to finance the 3 Org's project at 9 & 11 Madison Ave., a project they couldn't responsibly confirm was a good investment and was viable for the Estonian Community, because, they simply did not know.
In April, at the Special Meeting for EH shareholder's approval, the Board expected an overwhelming affirmation of their mandate, but, only won by 10 votes. This was a strong indicator of the community's dissatisfaction with the Board's mandate to sell the Broadview Estonian House.
The final decision to sell the Estonian House will be made by the 3 Org's and the Board in November based on the Madison proposal's due diligence findings. The Board is not required to share their findings and how they determine a favourable or unfavourable outcome, respectively, to sell or not to sell the Estonian House. This should concern all of us.
The Board's focus and energies have been overwhelmingly exhausted on pursuing their mandate to build a "new" Estonian House on the misguided campaign of misinformation that, "the Broadview Estonian House is at the end of its life."
Loe edasi: Madison Project: A Bridge...