Elgin Math & Science Academy
Minutes
Special Meeting of Finance and Facilities/Master Plan Committees
Date and Time
Monday February 24, 2020 at 2:00 PM
Location
Ignite Conference Room, 13 Douglas Ave, 2nd Floor, Elgin
Committee Members Present
A. Gray, F. Bisconti, K. Kelly, K. Rauschenberger, L. Fuhr
Committee Members Absent
None
Guests Present
B. Pinon, G. Swick, M. Dyer, M. Gibb
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
K. Kelly called a meeting of the Finance Committee of Elgin Math & Science Academy to order on Monday Feb 24, 2020 at 2:06 PM.
II. Finance
A.
Review of Pricing Estimates from Leopardo
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 3:30 PM.
Respectfully Submitted,
K. Kelly
Committee discussed pros and cons of new construction vs adaptive reuse.
Need for classrooms is spread out over a few years.
Need for cafeteria and gym.
School could function with only gym rehab--add'l classrooms could take the place of the multipurpose room if needed. Disadvantage is the danger of not being able to afford to rehab the admin building. And then not being able to afford the cabins.
Roadway modifications concerns discussed.
Can get preliminary things on gym started soon: testing, remediation, roofing, windows, exterior walls, replace in-kind can be immediately started as well. Probably could get a demo permit as well.
Elevator lead times are 12-16 weeks and can't be ordered until all permitting approved.
When would the gymnasium be completely done--not before August class start. Be prepared to move students mid-year.
Financing--pre-construction funds are available for use on the remediation, et al.
For financing, will be trying to go conventional with IFF.
Recommendation for Board: maximum of $6M debt; tackle Gym and site work with this phase; Admin next phase; cabins and roadwork next phases.