CASA ACADEMY
Minutes
Board Meeting
Date and Time
Wednesday August 7, 2019 at 7:30 PM
Location
Dial-in: 712-775-7031 Meeting ID: 356-190-185
CASA Academy Governing Board meetings will take place at the CASA Academy campus (1500 W Maryland Ave, Phoenix, AZ 85015). Per A.R.S. § 38-431.02, notice of meetings for CASA Academy and any of its committees will be posted on this website. Notices will also be posted in the front office of CASA Academy (1500 W Maryland Ave, Phoenix, AZ 85015), which is open from 8:00 am to 4:00 pm, Monday through Friday.
Trustees Present
D. Brown (remote), D. Puente (remote), E. Hunt (remote), M. Campillo (remote), M. Tucker (remote), T. Wee (remote)
Trustees Absent
M. Major, P. McHonett
I. Opening Items
A.
Call the Meeting to Order
M. Tucker called a meeting of the board of trustees of CASA ACADEMY to order on Wednesday Aug 7, 2019 at 7:33 PM.
B.
Record Attendance and Guests
C.
Approve Minutes
E. Hunt made a motion to approve minutes from the Board Meeting on 07-29-19 Board Meeting on 07-29-19.
M. Campillo seconded the motion.
The board VOTED unanimously to approve the motion.
| Roll Call | |
|---|---|
| E. Hunt |
Aye
|
| D. Puente |
Aye
|
| M. Major |
Absent
|
| M. Campillo |
Aye
|
| T. Wee |
Aye
|
| P. McHonett |
Absent
|
| M. Tucker |
Aye
|
| D. Brown |
Aye
|
II. New Business
A.
Vote on Seller's Response to Property Proposal
The Board discussed the seller's LOI terms and offer and the tenant improvements expected to make the property suitable for CASA Academy. The Board discussed a counter offer and also discussed the possibility of continuing to look at other properties.
M. Campillo made a motion to Make a counteroffer to the Spirit LOI with the following terms, revisions, or conditions:
1. The best and final offer of the Purchase Price would be $3,200,000;
2. The Cancellation Fee clause would be stricken from the LOI;
3. Due Diligence period would be 60 days and extendable for an additional 30 days upon payment of an additional $10K of non-refundable earnest money, which would also be applicable to the Purchase Price.
4. The closing shall be 30 days after the conclusion of the Due Diligence Period;
5. Subject to Broker's discretion on whether to include, the Non-Binding provision should read that "This letter of intent is not a commitment to buy or sell, and is subject to satisfaction of the Conditions and Contingencies outlined above"; and
6. That Tacey has the discretion to alter the language of the LOI terms in collaboration with our realtor and broker.
M. Tucker seconded the motion.
The board VOTED unanimously to approve the motion.
| Roll Call | |
|---|---|
| T. Wee |
Aye
|
| M. Campillo |
Aye
|
| P. McHonett |
Absent
|
| M. Major |
Absent
|
| D. Brown |
Aye
|
| D. Puente |
Aye
|
| E. Hunt |
Aye
|
| M. Tucker |
Aye
|
III. Closing Items
A.
Adjourn Meeting
M. Tucker made a motion to adjourn the meeting.
E. Hunt seconded the motion.
The board VOTED unanimously to approve the motion.
| Roll Call | |
|---|---|
| E. Hunt |
Aye
|
| M. Major |
Absent
|
| D. Puente |
Aye
|
| D. Brown |
Aye
|
| T. Wee |
Aye
|
| M. Tucker |
Aye
|
| M. Campillo |
Aye
|
| P. McHonett |
Absent
|
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 8:30 PM.
Respectfully Submitted,
M. Campillo