Bold City Education, Inc.
Minutes
Monthly Board Meeting
Date and Time
Thursday March 21, 2024 at 4:30 PM
Location
Bold City Education, Inc.
4131 Sunbeam Road
Jacksonville, Florida 32257
Bold City Education, Inc. will hold a Public Board Meeting utilizing Communications Media Technology (“CMT”)
ID: 83367082944
Passcode: 404733
+1 301-715-8592
Access Point:
Bold City Education, Inc.
4131 Sunbeam Road
Jacksonville, Florida 32257
(904) 414-3312
Directors Present
B. Arnold (remote), G. Wheeler (remote), J. Gonzalez (remote), J. Jeakle (remote)
Directors Absent
None
Ex Officio Members Present
C. Azor (remote), R. Rewey (remote), S. Bloom (remote)
Non Voting Members Present
C. Azor (remote), R. Rewey (remote), S. Bloom (remote)
Guests Present
Melissa Arnold (remote), Nicole Zumot (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
J. Gonzalez called a meeting of the board of directors of Bold City Education, Inc. to order on Thursday Mar 21, 2024 at 4:31 PM.
C.
Approve Minutes
G. Wheeler made a motion to approve the minutes from 2/15/24 and 2/29/24 Monthly Board Meeting on 02-15-24.
J. Jeakle seconded the motion.
The board VOTED unanimously to approve the motion.
G. Wheeler made a motion to approve the minutes from 2/29/24 Emergency Board Meeting on 02-29-24.
J. Jeakle seconded the motion.
The board VOTED unanimously to approve the motion.
II. Academic Excellence
A.
Staffing Update
B.
Early College at Cecil Site Visit
Saul Bloom discussed the upcoming site visit to Cecil on or about April 6, 2024.
III. Chief Executive Positions
A.
CEO Position
G. Wheeler made a motion to authorize Gary Wheeler to draft and negotiate a contract with Ryan Rewey as CEO of Bold City Education Organization subject to subsequent Board consideration and approval.
J. Gonzalez seconded the motion.
The board VOTED unanimously to approve the motion.
B.
Chief Level Positions 2 Year Contracts
Tabled.
IV. Finance
A.
San Jose Cyber FTE Audit
Ryan Rewey provided a review.
V. Governance
A.
Cancellation of San Jose North Contract
G. Wheeler made a motion to cancel the San Jose North Contract.
J. Gonzalez seconded the motion.
The board VOTED unanimously to approve the motion.
B.
Approve Amended Enrollment Projections for the 24-25 School Year
J. Jeakle made a motion to Approve Amended Enrollment Projections for the 24-25 School Year.
B. Arnold seconded the motion.
The board VOTED unanimously to approve the motion.
VI. Other Business
A.
Additional Deleveraging Strategies
Discussed potential deleveraging of Horizon Growth Fund, LLC and Padawan to better stabilize Bold City Education.
B.
Termination of Agreement for Purchase and Sale between Horizon Growth Fund, LLC, and MYA Holdings, LLC, relating to 1824 Dean Rd.
J. Jeakle made a motion to Terminate Agreement for Purchase and Sale between Horizon Growth Fund, LLC, and MYA Holdings, LLC, relating to 1824 Dean Rd.
G. Wheeler seconded the motion.
The board VOTED unanimously to approve the motion.
C.
Agreement for Purchase and Sale between Horizon Growth Fund, LLC, and Akam Sorany and Zahid Choudhry, relating to 1824 Dean Rd. (including residential parcel)
J. Jeakle made a motion to approve Agreement for Purchase and Sale between Horizon Growth Fund, LLC, and Akam Sorany and Zahid Choudhry, relating to 1824 Dean Rd. (including residential parcel).
J. Gonzalez seconded the motion.
The board VOTED unanimously to approve the motion.
D.
Resolution authorizing sale of property located at 10850 Harts Rd. within timeframes set forth in Agreement for Purchase and Sale
J. Jeakle made a motion to approve Resolution authorizing sale of property located at 10850 Harts Rd. within timeframes set forth in Agreement for Purchase and Sale.
G. Wheeler seconded the motion.
The board VOTED unanimously to approve the motion.
E.
Resolution authorizing sale of property located at 1824 Dean Rd. within timeframes set forth in Agreement for Purchase and Sale
J. Jeakle made a motion to approve Resolution authorizing sale of property located at 1824 Dean Rd. within timeframes set forth in Agreement for Purchase and Sale.
G. Wheeler seconded the motion.
The board VOTED unanimously to approve the motion.
VII. 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 5:41 PM.
Respectfully Submitted,
J. Gonzalez
Documents used during the meeting
- 2024_02_15_board_meeting_minutes.pdf
- 2024_02_29_board_meeting_minutes.pdf
- Volunatary Cancellation of San Jose North Charter School Contract.pdf
- Termination of PSA-Draft-3-20-24.docx
- Purchase and Sale Agreement for 1824 Dean Road Signed by both Buyers (1).pdf
- Approving Resolution - Harts Road-Updated-3-14-24 (1).doc
- App Res - Dean Rd-Sorany-Choudhry.doc
Saul Bloom provided the staffing update.