KIPP SoCal Public Schools
Minutes
KIPP SoCal Real Estate Committee
Date and Time
Monday August 30, 2021 at 2:00 PM
Committee Members Present
C. Bermudez (remote), E. Kavounas (remote), P. Feder (remote)
Committee Members Absent
J. Miller
Guests Present
K. Salyer
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
P. Feder called a meeting of the Real Estate Committee of KIPP SoCal Public Schools to order on Monday Aug 30, 2021 at 2:02 PM.
C.
Public Comment
No Public Comment
D.
Approve Minutes
E. Kavounas made a motion to approve the minutes from KIPP SoCal Real Estate Committee Meeting on 04-08-21.
C. Bermudez seconded the motion.
The committee VOTED to approve the motion.
| Roll Call | |
|---|---|
| P. Feder |
Aye
|
| J. Miller |
Absent
|
| C. Bermudez |
Aye
|
| E. Kavounas |
Aye
|
II. Real Estate
A.
Discussion & Vote Regarding Potential Real Estate Acquisition at 1800 W 134th St, Compton, CA
C. Bermudez made a motion to Allow KIPP SoCal and KLARE Holdings to enter into the Purchase Sale Agreement for 1800 W 134th St, Compton, CA; enter escrow; place an escrow deposit; and begin due diligence and planning for the acquisition and related project.
E. Kavounas seconded the motion.
E. Hagstrom presented an overview of the proposed acquisition and deal terms.
The committee VOTED unanimously to approve the motion.
B.
Project and Acquisition Updates
E. Hagstrom provided general updates on active and planned projects and potential acquisitions. Discussion included construction costs, update on acquisition of 1318 Potrero Grande Drive, overview of the tenant improvement project for LA Prep, and updates on other active projects.
III. Closed Session
A.
Update on litigation
Update provided to the committee on active litigation. No decisions were made.
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 3:02 PM.
Respectfully Submitted,
P. Feder
Documents used during the meeting
- KIPP SoCal Real Estate Committee Resolution Authorizing 1800 W 134th PSA.pdf
- 134th W_1800_PSA + Addendum_SE.pdf
- LOI 1800 W 134th Comton.pdf