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Alma del Mar

Minutes

Alma del Mar Foundation Meeting

Quarterly Meeting

Date and Time

Friday January 20, 2023 at 12:00 PM

Location

Christine Fisher is inviting you to a scheduled Zoom meeting. Join Zoom Meeting https://us02web.zoom.us/j/81289066737 Meeting ID: 812 8906 6737 One tap mobile +13126266799,,81289066737# US (Chicago) +16468769923,,81289066737# US (New York) Dial by your location +1 312 626 6799 US (Chicago) +1 646 876 9923 US (New York) +1 646 931 3860 US +1 301 715 8592 US (Washington DC) +1 305 224 1968 US +1 309 205 3325 US +1 360 209 5623 US +1 386 347 5053 US +1 408 638 0968 US (San Jose) +1 507 473 4847 US +1 564 217 2000 US +1 669 444 9171 US +1 669 900 6833 US (San Jose) +1 689 278 1000 US +1 719 359 4580 US +1 253 205 0468 US +1 253 215 8782 US (Tacoma) +1 346 248 7799 US (Houston) Meeting ID: 812 8906 6737 Find your local number: https://us02web.zoom.us/u/kdU0GYseKh

Committee Members Present

D. Prentiss (remote), E. Haddad (remote), J. Baptist (remote), J. McDonough (remote), P. Ditchfield (remote), R. Cabral (remote), W. Gardner (remote)

Committee Members Absent

M. Kay

Guests Present

C. Fisher (remote), T. DeLoach (remote)

I. Opening Items

A.

Record Attendance

B.

Call the Meeting to Order

P. Ditchfield called a meeting of the Alma del Mar Foundation Committee of Alma del Mar to order on Friday Jan 20, 2023 at 12:00 PM.

C.

Approve Minutes

Motion to approve the minutes from Alma del Mar Foundation Meeting on 10-21-22.
The committee VOTED to approve the motion.

II. Alma del Mar Foundation

A.

FY23 Q2 Financials

Reviewed Q2 financials noting the effects the QALICB unwind had on Balance Sheet and P&L.

B.

Cash Transfers

E. Haddad made a motion to approve Q2 cash transfers.
W. Gardner seconded the motion.
The committee VOTED to approve the motion.

C.

Douglass Campus Replacement & Renewal Study

E. Haddad presented his summary of the study and noted that he needed to follow up on some HVAC related items.  A revised report will be circulated.

III. Other Business

A.

Forgive QLICI debt

R. Cabral made a motion to forgive all of the QLICI debt in excess of the outstanding amount of the Bonds, $5.7million.
E. Haddad seconded the motion.
The committee VOTED to approve the motion.

B.

Ottiwell Lease Agreement

P. Ditchfield will sign the new Ottiwell lease on behalf of the Foundation.

IV. 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 1:00 PM.

Respectfully Submitted,
C. Fisher