Final

Global Academy of South Carolina

K-8 GASC Board of Directors Meeting

K-8

Date and Time

Wednesday March 27, 2024 at 12:00 PM EDT

Location

9768 Warren H Abernathy Hwy, Spartanburg, SC 29301

Agenda

Section Number Topic Number Details Purpose Presenter Time
I. Opening Items 12:00 PM
  A. Record Attendance   Yekaterina Degtyareva 1 m
  B. Call the Meeting to Order   Liliya Kovalevich 1 m
II. Consent Agenda 12:02 PM
  A. Approve Minutes 03-18-24 Approve Minutes Liliya Kovalevich 2 m
     
III. Public Comments 12:04 PM
  A. Public Comments Discuss Liliya Kovalevich 2 m
IV. Discussion 12:06 PM
  A. Approval of CPA Firm for Annual Audits Vote Alkan Cevik 2 m
   

Approval of CPA firm for preparation of annual audits and 990 tax return.

  
  B. Land Value Opinion from Colliers Discuss Ilya Soroka 2 m
   

Colliers issued a Land Value Opinion on the land swap with the school.

  
  C. Amendment to Field Use Agreement Discuss Ilya Soroka 2 m
   

The Field Use Agreement is amended to reflect the purchase by GASC.

  
  D. Termination of Perpetual Field Use Agreement Discuss Emily Magee 2 m
   

Since the school will buy the field's the Perpetual field lease which guaranteed a right to the school for a field somewhere on the property.

  
  E. Purchase and Sale Agreement for Purchase from Star Center Properties Discuss Emily Magee 2 m
   

Global Academy of South Carolina has voted to pursue the Purchase and Land Swap of front properties with Star Center Properties LLC.

  
  F. Loan Documents for Purchase of Property Discuss Emily Magee 2 m
   

The loan documents for the purchase of the Land from Star Center Properties LLC are presented and drafted by Emily Magee. This will be a unsecured loan. The interest rate is 10% paid monthly. Ballon payment at the end of a 10 year term. Loan amount is $300,000.

  
  G. Resolution to Authorize Board member to signs closing documents Vote Ilya Soroka 2 m
   

Resolution to Authorize Board member to signs closing documents by March 30th.

  
V. Closing Items 12:20 PM
  A. Board Comments
  B. Adjourn Meeting Vote