BOD Meeting September 24, 2026

1. Board approved Ralph Poole, Tammy Stephens, Gary Mosher as committee members for the new Technology Committee

2. Board approved tree removal located on common property adjacent to the Hole #9 Retention Pond to Juan Carrusco for $3,200

3. Board approved applying the Tax Refund of $85,922.38 to the center property Mortgage at First National Bank of Mount Dora. The current mortgage is up for refinancing in 2027 and we anticipate a higher interest rate. By applying the money to the loan principal will reduce the repayment years and help with maintaining the loan monthly payment.

4. The Board Approved the new Smoking Policy which will be added to the Co-Op Rules and Regulations. Smoking will not be allowed in any of the complex buildings including the Whistlestop Patio and the front entrance of of the complex. The Board is currently discussing and identifying a smoking area and accommodations for smokers.

5. Board approved stopping the Shareholder Appreciation Discount effective September 29, 2026 through December 31, 2026. This was a difficult decision but was need based on our current economic environment and the impact on our budget.

   The number we follow closely is the Net Operating Income which is an indicator of how much is required to subsidize (shareholder responsibility) the restaurant. Although our Gross Income was up .6% over 2025, our Net Operating Income is (as of end of July) is $37,438.00 below 2025 Net Operating Income. Our cost of Food and Alcohol has increased to 10% above 2025. The Cost of the Share Holder Appreciation Discount has resulted in adding $27,574.26 (7 months) to the total Whistle Stop discount cost ($39, 643.03) or 69% of the total discount cost.

   The Board will be looking at different promotions for the Shareholders. The Shareholder Appreciation Discount will discussed again FY2027.

6. Meeting Adjourned