KIPP Memphis Public Schools
Minutes
Special Called Board of Directors Meeting
Date and Time
Tuesday February 17, 2026 at 1:30 PM
Location
Non-board members and non-staff are welcomed to attend this public meeting and are asked to pre-register to receive the meeting location details: KMPS Board Meeting Registration
Guests are welcomed to attend these public meeting and are asked to pre-register to receive the meeting location details: KMPS Board Meeting Registration
Directors Present
A. Anderson (remote), B. Gennings (remote), C. Kyles (remote), D. Hopson (remote), D. Lyles-Wallace (remote), J. Neal (remote), M. Davis (remote), N. Gatson (remote)
Directors Absent
J. Worles, L. Johnson III, R. Crutcher
Guests Present
A. Burt (remote), A. Carr (remote), G. Phillips (remote), G. Williams (remote), J. Ward-Gill (remote), S. Gatson (remote), T. Brittmon (remote)
I. Opening Items
A.
Call the Meeting to Order
B.
Roll Call
C.
Agenda Review
II. KCCE Building and Renovations
A.
KMPS Projected Enrollment
Chief Carr presented the worst-case and best-case enrollment projections for all current schools, including KIPP Cordova Collegiate Elementary.
B.
Financial Projections Summary
Chief Carr presented the consolidated KIPP Memphis five-year financial projection for FY2027–FY2031, which included the projected facility cost and renovations for KIPP Cordova Collegiate Elementary.
C.
Recommendation
The recommendation is to utilize Charles Schwab funds and cash reserves to purchase the building, and proceed with First Horizon to secure a 15-year fully amortized loan.
III. Board Actions
A.
Charles Schwab Liquidation
It is recommended that the KIPP Memphis Public Schools Board of Directors approve the liquidation of investment assets held at Charles Schwab to fund the acquisition of the property for KIPP Cordova Collegiate Elementary School, located at 7275 Goodlett Farms Parkway.
Upon liquidation, the proceeds will be deposited into KIPP Memphis Public Schools’ primary operating account at First Horizon Bank.
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B.
First Horizon Purchase/Construction Financing
It is recommended that the KIPP Memphis Public Schools Board of Directors approve the purchase and renovation financing for the KIPP Cordova Collegiate Elementary campus located at 7275 Goodlett Farms Parkway. The total acquisition cost of the building is $4,500,000, plus closing costs, to be funded through the liquidation of investment assets held at Charles Schwab and available cash for the remaining balance.
This approval also includes the renovation costs estimated at $8,500,000 to prepare the facility for school operations.
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C.
Construction Management At Risk General Contractor
It is recommended that the KIPP Memphis Public Schools Finance Committee and Board of Directors approve the contract to Grinder, Taber & Grinder, Inc. in the amount not to exceed of $8,500,000.00 to provide Construction Management At Risk services to renovate the KIPP Cordova Collegiate Elementary School property at 7275 Goodlett Farms Pkwy.
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The agenda was reviewed and approved with no changes.