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THE AMERICAN UNIVERSITY IN CAIRO Minutes of the Meeting of th~ Executive Committee ' May 16, 1979 The River Club, New York City " I Attending: Messrs. Crary, Hedlund, Thorne (Chairman), Wadsworth and O'Connor. 1. AID-a. The attached letter from Mr. Thorne to Mr. Nooter was approved. b. The attached reply to AID' on British-Chloride was approved. 2. Cairo Properties - The Committee was opposed to paying any fees to the architect, El-Bably, which could possibly be interpreted as money to improperly influence the decision of government licensing authorities concerning the expiry of the building permit on Z-I. The Committee agreed with ~1r. Snaith that barring some additional opportunity there seems to be little choice but to allow the license to expire and try to sell the land without it. 3. Fund Structure/Tax - Having now heard further from Messrs. Tait,Wadsworth and Snaith on the various technicalities involved, the Committee felt that the issues of structure and taxation could now be safely separated. They felt that Mr. Snaith could work on getting permission to replace partners and that the question of tax could be left until later. 4. Fund Brochure - The Committee was in favor of the Fund having a brochure for distribution to potential investors, etc. and was favorably impressed by Mr. Snaith's draft • . . . /2 |
