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Volume 7, Number 3 MARCH 2007 From Your Manager Each month from here forward you will receive an update as to important happenings on the board of directors.

1 Volume 7, Number 3 MARCH 2007 From Your Manager Each month from here forward you will receive an update as to important happenings on the board of directors. To follow are excerpts from the previous three board meetings, as well as a schedule for future board and committee meetings. From our September 2, 2006 meeting: The finance committee proposed and passed two resolutions. The first resolution eliminated the Sunday night buffet during off-season from October 1 through April 1. The second resolution increased the rate on dock slips to $14 per foot, per month, based on length of slip, not length of boat. Example: A 50 slip will cost $ per month. What s Inside Chef s Corner...2 Board Meeting Updates...1-3,7 Sunday Dining Returns...4 Dress Code...5 Clubhouse Extras...5 Schedule of Operations...5 Real Estate Sales News From our November 25, 2006 meeting: Officers were elected. They are as follows: Read M. Northen, Jr....President Joe McLeod...Vice-President Dianne Avery...Secretary Melene G. Hatcher...Treasurer ) continued on page 3 Visit Figure Eight Island Yacht Club online at 1

2 St. Patrick s Day Corned Beef Brisket Ingredients 1 (4lb) corned beef brisket 1 large onion quartered 2 large stalks celery diced 3 medium peeled carrots diced 2 medium heads cabbage quartered 12 ea. white B potatoes cleaned 12 oz. beer or ale 4 tbs. pickling spice 1 4 cup vinegar Procedure Chef s Corner Place brisket in deep pot; add enough cold water to cover. Add beer, onion, celery and pickling spice. Cover and bring to a boil. Reduce the heat and simmer for about 4 hours. Remove the vegetables and skim the fat from the liquid. Add carrots, cabbage and potatoes; simmer for 30 minutes until vegetables are tender crisp. Slice corned beef against the grain and serve with the vegetables and creamed horseradish sauce. Enjoy! Visit figure8islandyachtclub.com for a complete list of past Chef s Corners. From Your Manager continued from cover The Capital Budget, which was unanimously approved by finance, was presented to the board. Action was deferred until the new directors had had the opportunity to review. The board asked for a review of two previous decisions, one to increase the slip rates, and the other to eliminate Sunday dining in the off-season. They will be addressed at our next meeting of the directors. The board adopted a meeting schedule. It is as follows: January 27, 2007 April 7, 2007 May 26, 2007 July 7, 2007 September 1, 2007 November 24, 2007 (Annual Meeting of the Members) continued next page 2 Visit Figure Eight Island Yacht Club online at

3 Each standing committee will meet immediately following the meeting of the BOD. From our January 27, 2007 meeting: Standing Committee Chairs were announced: House Committee Margie Johnson Building and Grounds Bill Wilson Finance Melene Hatcher By Laws and Membership Dianne Avery Nominating Margie Johnson Personnel Joe McLeod Net Operating Income was even to budget and $75,000 better than last year. Restricted Funds for period ending 12/31/06 were $624,105 (restricted to capital improvements or repairs) Restricted Dues for period ending 12/31/06 were $24,999 (restricted for capital improvements or repairs) The Board unanimously approved the capital budget for FY 2007 in the amount of $64,415. Stage... $4,000 Dredging A-Dock... $20,000 Parking Lot Re-surfacing... $4,700 Roof-Pool Building... $2,000 Pool Pump Impeller... $4,000 Kitchen Equipment... $25,715 Dining Room Equipment... $4,000 TOTAL... $64,415 Finance Reported on 1 st Quarter Results (Period ending 12/31/06) Revenue was $24,000 below budget, and $23,000 better than same period last year. There was significant discussion regarding Sunday Night Dining, and board support for some form of Sunday Dining in the off-season. The House Committee, which was to meet following the board meeting, was given the authority to reinstate Sunday Dining, pending financial analysis by management. There was significant discussion about the previously adopted resolution to increase continued on page 7 Visit Figure Eight Island Yacht Club online at 3

4 Sunday evening dining returns! Dining from 6:00 p.m. to 8:30 p.m. The Club is happy to announce that we will resume Sunday evening dining in an all-new format. The Club now offers dining on Sunday evenings featuring selections from our weekend a la carte menu, as well as a new selection of items we call Club Fare. These items are specifically designed to be a great value for our members, as well as be comfort-driven traditional club menu items. There will also be a community table for those that wish to join their neighbors for dinner once they arrive at the Club. We are also pleased that the house committee has relaxed the dress code on Sunday evenings, and casual is the new order. Slacks and collared shirts for gents is all we ask. As always, denim is not permitted in the Clubhouse. r Reservations requested A La Carte and Club Fare menus will be ed each week to all members. Please let us know if we need to add your address to the list. 4 Visit Figure Eight Island Yacht Club online at

Dress Code Dinner Service in the Dining Room Friday and Sunday Dress: Casual Collared shirts for gentlemen. Equally appropriate attire for ladies is requested.

Jeans are never allowed in the dining room.

5 Dress Code Dinner Service in the Dining Room Friday and Sunday Dress: Casual Collared shirts for gentlemen. Equally appropriate attire for ladies is requested. Jeans are never allowed in the dining room. Saturday Dress: Island Formal Slacks, jackets, and collared shirts are appropriate for gentlemen. Equally appropriate attire for ladies is requested. Jeans are never allowed in the dining room. Schedule of Operations Reservation Policy The club strongly suggests reservations for dinner in the dining room; however, we will make every attempt to accommodate any member wishing to dine with us. Walk-ins and late reservations will be accepted on a space-available basis. To make a reservation Call: (910) Fax: (910) Dining Room Dinner Friday and Saturday: A La Carte Seatings on the half hour from 6:30-8:30 Sunday: A La Carte Seatings on the half hour from 6:00-8:30 Carry-Out Service Any night an A La Carte menu is offered, the Club welcomes carry-out orders. The entire menu is available for carry-out. Clubhouse Extras Wireless Internet Service Bring your laptop with wireless card or chip to the Club and access the Internet through your own PC, or sit down at our workstation to check your and visit your favorite Internet sites. Club House Games Assorted board games are available in the Club s lounge area for use by Members. Games include chess and checkers, backgammon, cribbage, and playing cards. Lawn bowling and croquet sets are available as well. Visit Figure Eight Island Yacht Club online at 5

Real Estate Sales News Spring is right around the corner, so now is the time to contact us if you are interested in selling in 2007. Our new rental brochure is now available.

Four bedrooms, 3 full baths and den are located on the lower level of this home. The upper level features a large great room that offers views of the sound, waterway, and ocean.

Other features include gym/bonus room overlooking the sound, wet bar, elevator, alarm system, heated and cooled storage, outdoor shower, 4 car garage, screened in porch with teak floors, second level

6 Real Estate Sales News Spring is right around the corner, so now is the time to contact us if you are interested in selling in Our new rental brochure is now available. Encourage your friends and family to book their reservations now. 25 Pipers Neck New Listing SOUND FRONT Outstanding sound front property with 103 ft of deep water frontage. Four bedrooms, 3 full baths and den are located on the lower level of this home. The upper level features a large great room that offers views of the sound, waterway, and ocean. Master suite with Jacuzzi tub and steam shower also located on this level. Bulkhead, pier, floating dock, and boat lift in place. Other features include gym/bonus room overlooking the sound, wet bar, elevator, alarm system, heated and cooled storage, outdoor shower, 4 car garage, screened in porch with teak floors, second level teak deck with ocean views, two levels of decks overlooking the sound, and landscaped lawn with sprinkler system. Sold furnished with exclusions. Charter Membership included. Offering Price: $4,200, Beach Road South New Listing OCEAN FRONT Enjoy fantastic sound and ocean views from the decks of this ocean front 4 bedroom, 3 bath home. The upper level of this home features expansive views of the ocean from the main living and dining area. Loft area located on the top floor offers additional living space. Private roof top sundeck provides panoramic views of the sound. Updated kitchen appliances, new windows throughout, exterior recently painted, new carpet, and new roof. Figure Eight Island Yacht Club Warrant included. Sold partially furnished. 6 Comber Road New Listing OCEAN FRONT Great 4 bedroom, bath ocean front home located on a quiet cul-de-sac street. This home offers 3 bedrooms, 3 baths and laundry area on the lower level. Upper level features open living, dining, kitchen, office, and master suite. All bedrooms overlook the ocean with access to a deck. Nicely landscape lawn, two car garage, elevator, outdoor shower and more. Good rental history. Figure Eight Island Yacht Club Warrant included. Offering Price: $2,050,000 Offering Price: $1,995,000 ( Figure Eight Realty Toll Free: (800) Office: (910) Fax (910) Sales Judy B. Parlatore Susanna Phillips Rental/Sales Brooke Bissette Kirra Sutton Jo El Skipper 6 Visit Figure Eight Island Yacht Club online at

209 Beach Road North New Listing MARSH FRONT Fabulous sunset views from this 4 bedroom, 2.5 bath marsh front home, located directly across the street from the ocean. Beach path only steps away.

7 209 Beach Road North New Listing MARSH FRONT Fabulous sunset views from this 4 bedroom, 2.5 bath marsh front home, located directly across the street from the ocean. Beach path only steps away. Bonus loft area with deck overlooking the ocean. Two car garage, expansive exterior storage, outdoor shower,.92 acre lot, freshly painted inside and out. Good rental history. Figure Eight Island Yacht Club Warrant included. Offering Price: $1,900,000 Building lots for sale: 10 Surf Court Ocean Front $1,500, Oyster Catcher Marsh View $1,675,000 2 Inlet Hook Second Row $1,500, Comber Road Second Row $1,500,000 Warrant From Your Manager continued from page 3 boat slip rental rates. There was no formal action, and as of today, rates will increase to $14 per foot, per month, effective with the April 1, 2007 renewals. It was announced that the Club has received the Award of Distinction from the CMAA International Wine Society. This award recognizes excellence in wine list breadth, service, pricing, and depth. This is their highest honor, and we are pleased to have been selected for such an honor. The Board granted permission to management to close the Club on two dates in May for private member functions: May 11, 2007 May 18, 2007 Following the board meeting, the house committee met. It was decided to eliminate the requirement for jackets on Sunday evenings, and that the Club will resume Sunday dining effective February 11, 2007 with an a la carte menu featuring less expensive club fare as well as a children s menu. The House Committee also voted to restrict attendance at the Jerry Helms Bridge Seminar in May to Members with no more than three guests. This was done to create a more intimate event that will be more rewarding to our members who attend. Your board is committed to keeping you informed. I hope you find this information helpful. I am always available to answer questions should any arise. Sincerely, Kirk Pugh General Manager Kpugh@cape-fear.net Visit Figure Eight Island Yacht Club online at 7

8 A Few Reminders Please refrain from using cell phones in the dining room. Our club is smoke free; smoking is allowed on decks only. Extinguish all cigarettes in sand urns on front and back deck areas. If you change your address, please let us know. POSTMASTER: PLEASE FORWARD Wilmington, NC Bridge Road Contact Information Yacht Club Office: Pool/Cabana: Figure Eight Beach Homeowners Association: Figure Eight Realty (At Any Hour): Gatehouse and Bridge: Yacht Club Office Fax: Visit Figure Eight Island Yacht Club online at

25th Anniversary Saturday, July 7 7:07 PM

Volume 7, Number 7 July 2007 Your Board of Directors cordially invites you to celebrate Figure 8 Island Yacht Club s 25th Anniversary Saturday, July 7 7:07 PM See page 6 for more details! What s Inside