By a vote of 6-1, with director Carl Weinstein opposed, the Board of Directors today (May 13) approved an amendment to the lease with TNF Holdings, doing business as Tirzo’s Bistro.
The amended lease, retroactive to May 1st, became effective immediately after the Board meeting, having been signed by authorized representatives of the tenant and the Association.
The new majority partner/investor in TNF Holdings is 35-year-old Audra Tubin (below), who will serve as that company’s president and sole director. She will be the primary restaurant manager while Tirzo Hernandez, who remains a partner, focuses on food preparation.
Before taking its vote in front of an audience of about 30 residents, the Board conducted a lively discussion.
President Jack Troia began by reviewing past presentations at Board meetings that discussed the restaurant’s status. He noted that the Board had moved from a “profit center” model to deciding that the restaurant must be treated as an amenity if it is to succeed. He said the amended lease, which provides for a minimum rent of $1,000 per month, payment of all utilities by the tenant, and additional rent on a graduated scale based on gross sales, will be effective until September 30, 2012, with renewal at that time conditioned in part on renegotiating the monthly rent and other charges. Troia also said that business and operational concerns raised by the Board and some residents have been addressed.
As the new controlling partner, Troia said, Audra Tubin has provided the requested financial guarantees and disclosed the sources of her funding.
Noting that the gambling polling agreement remains part of the amended lease, director John Waterhouse asked who will pay for the polling when it is conducted, including the cost of inserting the poll in the Spirit. Troia replied that the entire cost will be borne by TNF Holdings.
Waterhouse also asked either Vice President Roz Berman or Treasurer Dan Forgeron to comment on an executive summary the Board had been given relating to catering. Berman said they were satisfied with the information they had received regarding planned changes in marketing, personnel, bidding on catering jobs, and relations with clients.
Director Carl Weinstein said he supports the need for a lease modification, but said he questioned the manner in which the process was handled. And he asked if Mrs. Tubin has the knowledge to perform as expected in managing the restaurant.
Weinstein went on to say that he was concerned what guarantees exist about whether the restaurant will have the funds in the future to operate. Troia replied that Mrs. Tubin has shown she has the funds today, but that the future can’t be guaranteed. And Troia said that the financial projections reviewed by Berman and Forgeron “appear to be reasonable.”
Weinstein said he was concerned that four of the Board members had been “kept in the dark” about the dealings with Tubin. He said he “hasn’t seen a receipt” for the payments that have been recently made.
Troia replied that all the Board members had been sent the complete details of the proposed lease amendment on Tuesday of this week, and noted that Weinstein had not expressed concern about the proposal or requested to see any additional documentation, which Troia said Weinstein could have received upon request.
“If we wanted an experienced restaurant person,” Weinstein said, “how did we end up with someone who owns a janitorial business.” “We’re looking for a combination of management skills in our restaurant operators,” Troia answered.
Director Ann Small cautioned that a vote against the amended lease would be “extremely foolish,” saying that if the Board does not want this tenant to be the restaurant operator, it creates the risk of once again going for an extended period with a closed restaurant.
Discussing the vetting that took place after Mrs. Tubin stepped forward, Dan Forgeron said, “The blogs are not privy to all the details we considered.” He added that his judgments are based on his many years of experience overseeing a very large collegiate food-service operation. In addition, he said, “the RAC (Restaurant Advisory Committee) spent two and a half hours this week looking at proposed menu changes and hearing about other plans for the restaurant. We’re moving forward based on what we’ve seen,” he said, adding that Audra Tubin has already spent more than $60,000 of her funds to clear all arrearages and pay delinquent sales taxes. “Audra will control the business practices,” he said.
Immediately prior to the 6-1 vote, Jack Troia said, “This restaurant cannot support a rent of $7,000 per month.”
During Member Comment Period, blogger Ron Johnson said he and his wife have been “happily” and frequently eating at Tirzo’s Bistro, but he said he is concerned about the source of the funding. Johnson also asked if a guarantee letter received from Mrs. Tubin would be made public. Troia replied that the Tubin letter will be made available to residents. Some information received from Tubin is based on confidential personal and business records, he added, and an agreement requires that such information remain confidential.
Recent Comments