IOTA Community Schools
Minutes
Special Call Meeting
Date and Time
Tuesday January 27, 2026 at 12:00 PM
Location
Virtual
Directors Present
A. Allen (remote), L. Neal (remote), P. Egwuekwe (remote), P. Velasquez (remote)
Directors Absent
E. Harris, T. Young
Guests Present
D. Penaranda (remote), J. Orozco (remote), J. Rodgers (remote), K. Payne (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Public Comment
II. Special Call Meeting Topic
A.
Discussion of Wooddale Middle School Acquisition
Larry provided an overview of the acquisition.
Dan explain that the real estate would not make any money; it is to protect IOTA with the leasing structure; an exit from the loan can occur anytime if needed.
Jovan provided information around the current revenue 13 million dollars and will increase by the end of the year.
Dan explain there was no current outstanding loans; daily spending will decrease next year; current cash makes us look good; this loan will be paid off six times over.
Larry stated the commerical insurance details and Dan provided more context around this topic.
Audit meeting on Thursday with auditors ( issues around sick time for employees).
No Public Comment