An update to members on TSSEC activities over the past few months
Second Annual General Meeting, June 20, 2013
The President, Elizabeth White, reported on the progress made by TSSEC in 2012 and early 2013, illustrated by a short power point presentation. For those members unable to attend the AGM, a copy of the presentation is available on request.
A new Board of Directors was elected and officers subsequently appointed. They are: Elizabeth White (President), Peter Lamb (Secretary Treasurer), Clare Cullen, Ellie LangfordOParks and Jon Healey.
We are authorized to have up to 7 directors and we would welcome any member interested in joining the Board. Appointments can be made by the Directors to fill vacant positions until the next AGM in 2014. Our Two Year Strategic Plan was adopted for the period April 2013 to March 2015. It includes a TSSEC Vision Statement:
Our vision for Salt Spring is a vibrant, resilient Transition Community, less dependent on imported energy sources, with a strong local economy and healthy ecosystems. We are contributing to this vision by connecting members with local projects that lower our carbon footprint, reduce dependence on fossil fuels, and provide other environmental and social benefits.
…. and Strategic Goals and Objectives.
Our goal for this period is to build capacity and increase public awareness of TSSEC as a well:managed and growing cooperative association that provides a useful contribution to Salt Spring’s emerging green economy: which includes for:profit businesses, non:profit social enterprises and individuals.
1. Off road Pathway (Island Pathways)
Our first project funding was completed in the Spring of 2012. TSSEC provided a short term loan of $10,000 to Island Pathways on April 1st, 2012 to
expedite the completion of the Sharp Rd to Booth Canal Road off road pathway. The pathway was officially opened on August 7th 2012 and our loan repaid on August 30th.
2. SSI Abattoir (SSI Agricultural Alliance)
On February 1st 2013, TSSEC provided a 2Oyear loan to the SSI Agricultural Alliance toward the completion of the final phase of the SSI Abattoir on Fulford Ganges Road. The abattoir opened for poultry in October 2012 and lambs in January 2013 when a Class A license was obtained. Our loan is outstanding until January 31st 2015 with the possibility of early repayment from fundraising and tax rebates.
3. Electric Vehicle Charging Station (Earth Festival Society)
TSSEC provided interim funding of $8,000 to the Earth Festival Society for the purchase and installation of a Level 2 Electric Vehicle Charging System to be co-owned by the Earth Festival Society and Mid Island Coop and located at the ArtSpring parking lot.The station was officially launched on August 11th 2013 and our loan was repaid on August 30th with proceeds received by Earth Festival Society from the provincially funded Community Charging
Currently, TSSEC has 30 members. We would like to increase our membership to provide a broader and larger base of investors for future projects, so we welcome your assistance in recruiting new members. Please note that in order to qualify for dealer registration and prospectus requirement exemptions in securities regulations, TSSEC limits the number of members and value of their investment. Investors in a TSSEC project must also fall into a category that meets the regulations, primarily the definition of “family, friends and business associates” of Directors. Please feel free to contact any of the Directors to discuss these details.
We will be hosting our second annual member gathering in January, 2014. This is an informal opportunity to meet other members, review what we have done to date and discuss plans for the future direction of TSSEC. An invitation will be sent later this year with date and location of this event.
In the meantime, please do not hesitate to contact Elizabeth (2505372616) or Peter (2505374859) or any of the directors if you have any questions or comments.
From the Board of Directors