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Approved September 16, 2015 <br />MINUTES <br />Chapel Hill/Orange County Visitors Bureau Board of Directors Meeting <br />August 19, 2015 <br />The Chapel Hill/Orange County Visitors Bureau met at <br />The Carolina Inn <br /> <br /> <br />Board Members Present: Anthony Carey, Libbie Hough, Lee Storrow, Debbie Hepp, Jill McCullough, Karen DeHart, Aaron <br />Bachenheimer, Lee Pavao, Michelle Johnson, Nitin Khanna, Mike Gering, Penny Rich, Annette Stone, Meg McGurk <br />Not Present: Rosemary Waldorf, Mark Sherburne, and Jill McCullough <br />Staff attendance: Laurie Paolicelli, Marlene Barbera, Tina Fuller <br />Also present: Boris Bunich, Beacon Investment Mgmt.; D.R. Bryan, Bryan Properties; Gordon Merklein, Exec. Director of <br />Real Estate at UNC. Bob Ward, former board member, and Jim Moss sat in for Mark Sherburne. <br />Call to Order <br />Chairman Anthony Carey called the meeting to order at 8:10 am <br />Announcement <br />Visit North Carolina released the 2014 commerce report which reflected Orange County as having the highest <br />percentage increase in visitor spending of all 100 counties in N.C. <br />Introductions were given by all <br />Budget Update <br />Penny Rich reported that the fiscal year ended without using fund balance. A request was made to Paul Laughton to <br />confirm the current fund balance, which is thought to be about $600,000 and needs to be spent down. Laurie Paolicelli <br />attributed the increase in revenue to amazing ads/media placement; the delay in construction with Lux Apartments, the <br />implementation of a new hospital records system, and people have more dollars to spend on sports and special events. <br />Approval of Minutes <br />Mr. Cary requested a motion to approve the June 17, 2015 minutes. Lee Pavao so moved, Libbie Hough seconded. With <br />all members in favor, the minutes were approved as submitted. <br />Words from Hosting Hotel <br />Chairman Carey recognized Jim Moss, Director of Sales and Marketing for the Carolina Inn. Mr. Moss gave an update on <br />their bar and restaurants renovations which is considered that last phase of the hotel’s revamp. Moss revealed that they <br />have dropped the Carolina in the restaurant name and will now be called Crossroads Restaurant and Crossroads Bar. <br />Moss also revealed that the bar area will be larger than the restaurant; there will be a fireplace addition on the patio <br />and additional seating in the outdoor spaces. Breakfast, lunch and dinner will be served with a North Carolina infusion of <br />regionally sourced ingredients. Renovations are expected to be complete by September 2015. <br />Mr. Carey then recognized Boris Bunich with Beacon Investment Management Group, for an update on the new Hyatt <br />Place at Southern Village. Mr. Bunich reported that he expects the footers to be in place in the next month and he is <br />looking at the 3rd or 4th quarter of 2016 to complete the project. Bunich reported there would be two sections of <br />meeting space, 110 rooms and the possibility of an outdoor terrace. Bunich mentioned that they are working with