At the request of the 8 association presidents/chairs, a meeting was held last Thursday, May 25th. In attendance, were the presidents/chairs of the shareholder/participating associations, the chair of the Pikes Peak Association (they are not involved yet, but considering), the CEOs of both IRES and REColorado, and the chairs of both MLS board of directors.
The meeting was specifically held to create a strategic plan and deadlines in order to facilitate a merger between the two companies. A Letter of Intent that was established by T3, the facilitator hired to start this process, was signed by both parties. It has a 15 point road map that should help lead the way to this merger.
In the meeting, the first six points were addressed, deadlines given, and tasks assigned. The presidents/chairs will be working on providing a list of facilitators and creating an ownership model. In the meantime, REColorado and IRES are working on creating a core mission statement, providing financials to each other, and choosing one of the facilitators provided by the associations.
Both companies agree to commit to use a facilitator and commit to the process of addressing points in the Letter of Intent toward the goal of merging. Both agreed that a common goal would be to have this completed by November 1, 2017 but all understand the date may vary based on unforeseen challenges.
In the end, the meeting was successful, productive and efficient. Both companies have jumped right in to complete their tasks and we feel confident that we are on the road that will lead us to one Front Range MLS.