Lowcountry Montessori School
Minutes
Special Board meeting
Date and Time
Wednesday October 12, 2022 at 4:30 PM
Directors Present
A. Thompson, C. Garnes, G. Alexander, J. Dameworth, L. Young, S. Boggs
Directors Absent
J. Ephland, J. Poole
Guests Present
A. Horn, Bob - Raymond James, Jennifer C - Liollio, Kelly S - Raymond James, S. Fox
I. Opening Items
A.
Determination of Quorum
B.
Call the Meeting to Order
C.
Approval of Agenda
D.
Statement of Compliance with FOIA
II. Public Comment
A.
Public comment period, limited to 3 minutes per person.
III. New Business
A.
Discuss and vote on contract
Contract - Jennifer C (Notes per Amy Horn)
- Contract between owner and CMC to build building
- Step towards closing loan while they are working towards closing loan with USDA
- Contracts are industry standards from USDA (required by USDA)
- There are also modifications from USDA that are required to be in AIA contracts
- They have to wait to receive a notice to proceed from USDA and closing has happened.
- The CO Company gets bonds together. Cost is $50k and is fully refundable if contract is cancelled.
- The contractor will pay the $50k and then bill the school. If there is a long delay in the start of the project, the company may need to bill the school.
- Attorney discussed with Jennifer C about contract which are standard contracts that are required by USDA. The only thing shifted in this standard contract is the number of days for completion which is 450 days and the penalty for days past the 450.
Amanda - usually say to review contract but since it is a standard contract, there is a question as to if it needed to be reviewed by attorney because it is industry standard.
Greg made a point that he was glad that it did not state anything about arbitration.
None