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Magnolia Public Schools

Minutes

Audit/Facilities Committee Meeting

Date and Time

Thursday February 2, 2023 at 6:00 PM

Location

https://zoom.us/j/92205640153?pwd=cHNIWjlnY0dsQmxDTjZFa0pydzR0Zz09

 

Meeting ID: 922 0564 0153        Passcode: 013089
One tap mobile: +16699009128,,92205640153# US (San Jose)

Audit/Facilities Committee Members
Mr. Mekan Muhammedov, Chair
Ms. Diane Gonzalez

Mr. Daniel Sheehan
Dr. Salih Dikbas (alternate) 

CEO and Superintendent
Mr. Alfredo Rubalcava

Committee Members Present

D. Gonzalez (remote), M. Muhammedov (remote)

Committee Members Absent

D. Sheehan

I. Opening Items

A.

Call the Meeting to Order

M. Muhammedov called a meeting of the Audit/Facilities Committee of Magnolia Public Schools to order on Thursday Feb 2, 2023 at 6:02 PM.

B.

Record Attendance and Guests

Refer to attendance information recorded above.

C.

Approval of Agenda

D. Gonzalez made a motion to approve the agenda as presented.
M. Muhammedov seconded the motion.
The committee VOTED to approve the motion.
Roll Call
D. Gonzalez
Aye
M. Muhammedov
Aye
D. Sheehan
Absent

D.

Public Comments

No public comments were made at this time.

E.

Approval of Minutes from MPS Regular Audit/Facilities Committee Meeting - December 6, 2022

D. Gonzalez made a motion to approve the minutes from Audit/Facilities Committee Meeting on 12-06-22.
M. Muhammedov seconded the motion.
The committee VOTED to approve the motion.
Roll Call
M. Muhammedov
Aye
D. Sheehan
Absent
D. Gonzalez
Aye

F.

Approval of Minutes from MPS Regular Audit/Facilities Committee Meeting - January 11, 2023

D. Gonzalez made a motion to approve the minutes from Audit/Facilities Committee Meeting on 01-11-23.
M. Muhammedov seconded the motion.
The committee VOTED to approve the motion.
Roll Call
M. Muhammedov
Aye
D. Sheehan
Absent
D. Gonzalez
Aye

II. Recommended Action Items

A.

Approval of Resolutions Related to the Acquisition and Lease of 16600 Vanowen Street

This phase is related to signing the purchase and sale agreement and right to take title to the recently formed Vanowen Street LLC. Magnolia Science Academy (MSA)-2 is presently on a Los Angeles Unified School District (LAUSD) site under a co-location use agreement which is set to expire in 2024. After that time, MPS would have to apply for a Prop 39 space for MSA-2. The intendent use of the Vanowen Street property is to provide a facility for MSA-2 once their co-location use agreement expires. P.Ontiveros, General Counsel & Director of Facilities explained the transaction process as well as the studies currently and previously administered for a conditional use permit for the site. S.Budhraja, Chief Financial Officer, went over the financial health of the school and organization to move forward. Committee Members questions were asked and addressed by staff. 

M. Muhammedov made a motion to approve the following actions: (1) the assignment by MPS to MPM 16600 Vanowen Street LLC (the “Vanowen Street LLC”) of all its right, title and interest in and to that certain agreement for the purchase of the property located at 16600 Vanowen Street (APNs: 2231-007-008, -016 and -017) (the “Vanowen Street Property”) including the right to take title to the Property and the good faith deposit made by MPS; (2) the execution by the MPS CEO, CFO or their designees, of a lease agreement by and between MPS and Vanowen Street LLC (the “Lease”) for the use and occupancy of the Vanowen Street Property by Magnolia Science Academy—2 (“MSA-2”); (3) under the Lease, the payment by MPS to Vanowen Street LLC of non-refundable advanced rent in an amount equal to approximately $3,100,000, consisting of (i) $400,000 from the assignment of the good faith deposit made by MPS to escrow for the Vanowen Street Property and (ii) approximately $2,700,000 in cash; (4) the execution by the MPS CEO, CFO or their designees, on behalf of Vanowen Street LLC, as its sole manager of such documents and instruments as may be necessary in order for Vanowen Street LLC to acquire the Vanowen Street Property, including any loan documents; and (5) the execution by the MPS CEO and Superintendent, CFO, or their designees, of such documents and instruments as may be necessary to undertake and complete the foregoing actions. Staff recommends and moves that the MPS Committee recommend and move that the MPS Board adopt the foregoing resolutions.
D. Gonzalez seconded the motion.
The committee VOTED to approve the motion.
Roll Call
M. Muhammedov
Aye
D. Sheehan
Absent
D. Gonzalez
Aye

III. Closing Items

A.

Adjourn Meeting

There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 6:15 PM.

Respectfully Submitted,
M. Muhammedov