Present: Scott Hersey, Greenville Steam Company General Manager and Corporation President; David Sinclair, Maine Lumber LLC President and Corporation Secretary / Treasurer; John Simko, Greenville Town Manager and Corporation Clerk; Dick Gould (member); John Pepin (member); Mike Thornton, Public Works Foreman.

President Scott Hersey opened the meeting at approximately 9:10 AM. Scott gave a historical overview of the purposes and creation of the Forest products Maintenance Corporation, which began with the formation of the Forest Products Industrial Park in ~1988. The purpose of the corporation was to oversee and finance the costs of maintenance of the Industrial Park. All property owners within the Industrial Park are automatically members of the Corporation. To date, no dues have been solicited of the corporate members. The only direct expense for maintenance in the Industrial Park has been snow plowing of the Greenville Steam Road, a cost which to date has been paid completely by the Greenville Steam Company.

The Annual meeting for the corporation is stated to be in April of each year. Special meetings may be held if all members are notified. The last official meeting held by the Corporation was in 1996. “Sub-committees” of the Board of Directors may be formed, as per the by-laws. Scott Heresy noted that from his reading of the by-laws, only five members of the corporation's board of directors needs to be present to establish a quorum. Seeing five members present, a quorum was declared for business to be conducted.

There was discussion about the name of the Industrial Park and the name of the corporation. John Simko noted that he (and others) typically refer to the Industrial Park as the Greenville Industrial Park. Those present agreed by consensus that the corporate name would remain the same, but that the name of the Industrial Park itself would be the Greenville Industrial Park.

Updates were given by the following members on the following projects:

Town Manager John Simko explained that the Town has a pending Community Development Block Grant (CDBG) application into the State of Maine to pay for the extension of water and sewer lines through the Industrial Park. The Town is waiting to hear from the State on the award of the grant. The decision is currently pending the receipt of additional information from Maine Lumber LLC, which will benefit from the water-sewer line extension. The Town is working with Consumer Maine Water Company and the Moosehead Sanitary District to have each utility assume ownership of the lines once they are constructed. The difference between the construction cost (estimated at $334,000) and the CDBG award (expected to be $250,000) will be split between the Town of Greenville and Maine Lumber, LLC.

Maine Lumber President David Sinclair gave an update on his project, which will be a $10 million + investment and will create approximately 50 new jobs. He is working with some Canadian business partners to create the new company. The mill will be located on his property and in close proximity to Greenville Steam Company (possibly on some of GSC's property). He hopes to be up and running in the summer of 2003.

John Pepin, President of Pepin Associates Inc., gave an update on some of the projects he is working on, most of which involves material design for the aviation industry. It is likely that John will begin some production of his products at his Industrial Park location within the next year or two. This will result in a building expansion and job creation, the magnitude of which is unknown at this time.

Town Manager John Simko also spoke briefly about the Town's plans (and those of the Piscataquis County Economic Development Council – PCEDC) to develop a Wood Composites Business Incubator Center in the Industrial Park. The Incubator – which would be in a building roughly 35,000 sq. ft. in size – would be “rented factory space” for entrepreneurs within the wood composites field. The Town hopes to have the building up and the incubator running by the end of 2003.

There was some discussion regarding the assessment of dues to members to pay for maintenance costs (such as road plowing and sanding). Scott Hersey presented two possible scenarios for dues assessment, both based on total acreage of land owned within the Industrial Park. Scott indicated that he believes it is the role of the corporation, not the Town of Greenville, to pay for these road maintenance costs. In discussion, it seemed most of those present supported the concept of collecting sufficient funds through dues to pay for winter maintenance of ALL roads in the park, including Greenville Steam Road, Log Home Road, Sheridan Circle, and Cotas Drive.

There was general discussion about other infrastructure needs, both within and beyond the Industrial Park. John Pepin and David Sinclair each indicated the need for an arrivals building at the airport to accommodate business owners who fly in to Greenville. John Simko and David Sinclair mentioned the pending plans for development of a rail siding within the industrial park within the next two years. John Simko discussed the possibility of the Town acquiring some property from the Bureau of Parks and Lands to expand the Industrial Park toward Wiggins Stream, north of the Greenville Steam Road.

There was discussion regarding the desired direction for growth and development within the Industrial Park. The consensus of the members present seemed to be that the Town should weigh the value of each business proposal to consider long-term job growth and sustainability, added valuation, and compatibility to other businesses within the Industrial Park. In short, the Board members present encouraged the Town to seek the highest-value businesses possible to enter and develop within the Industrial Park. There also some discussion regarding the validity and enforceability of the deed covenants regarding subsequent sales after initial purchase is made from the Town. It is clear that the Town's authority is diminished after the initial sale, in regard to disclosure of business plans, etc.

The meeting of the Board of Directors for the Forest Products Maintenance Corporation concluded at approximately 11:02 AM.

Respectfully Recorded;

John Simko, Clerk
November 19, 2002