Tuesday, February 23, 2010

Tennis Foundation of CT - Board Mtg 2/2/10

The Ward 25 Alderman has a seat on the board of directors for the Tennis Foundation of CT.  I attended my first board meeting, and the board's first of 2010, earlier this month on Feb. 2nd.  This non-profit foundation manages the tennis stadium on Yale Avenue, promotes youth tennis, and promotes increased economic activity.  The Tennis Center's current tenant, CT Professional Tennis, owns the rights to and puts on the professional tournament -  Pilot Pen Tennis at Yale.  Most know that this is the last year (2010) of Pilot Pen as the title sponsor.  CPT's update was that they are indeed working hard to find a new title sponsor that will commit for at least five years.  It had been also noted that a title sponsor covers 1/3 of all expenses of putting on a tournament. After that update, the foundation's accountant presented the financial statement/audit for the year ending 9/30/2009.  He noted that cash and cash equivalents are declining year to to year.  Also, the Executive Director, Jay Zammiello, reminded the board that the center is now 20 years old and the mortgage is paid-off.  He also updated  the board on a site/maintenance survey recently done by a sports facilities architectural firm, Populous.  Suggestions and observations for the board's consideration included possible renovations that could perhaps be tied together with getting a new title sponsor, and that the facility should match the "international standard" and high level of any sponsors, tournaments, and event(s) to be hosted at the stadium.  The next board meeting is March 2nd, and we hope to hear more on the search for a new title sponsor.