2/20/18 GC Minutes

/in /by

Members Present: Virginia Trujillo, President
Chris Velasquez, Vice President
Phillip Sapien, Member by phone
Kathy Webb, Member
Members Absent: Art Silva, Member
Guests: Mary Tarango, Principal
Tina Fritz, COO
Kathy Potter
Rita Hirschy

Governance Council Called to Order by Virginia Trujillo at 6:00p.m.
Roll Call
 Quorum met.
Approval of Agenda
 Motion to approve agenda – Phillip Sapien
2 nd . – Kathy Webb
Motion Approved
Approval of Previous Governance Council (GC) Meeting Minutes
 Motion to approve minutes of January 31, 2017 – Chris Velasquez
2 nd . – Kathy Webb
Motion Approved
Open Forum – Phase II Financial Agreement
Rita Hirschy was present representing the Cutler Charitable Foundation. They are
looking for an investor for full financing. Rita stated that she and Mary looked for
alternative financing in November, 2017. They would like to refinance current building
and the new project. They are talking with Los Alamos National Bank using a rate of
4.5%.
Mary talked about the Expansion and Replication School grant. Phase I met all criteria
except one. They are eligible for $900,000.00. Letter for Phase 1 is due March 5, 2018.
Mary also stated that she is comfortable with a $50,000.00 monthly payment. Lease
Reimbursement is currently $15,000-$16,000 per month. It was stated that
reimbursement is only for direct instruction.

 Motion for Cutler Charitable Foundation to go forward on financing –
Phillip Sapien
2 nd . – Chris Velasquez
Motion Approved
Next Meeting
 Monday, March 12, 2018 @ 5:30 p.m.

Motion to adjourn – Kathy Webb
 2 nd . – Chris Velasquez
Motion Approved
Meeting adjourned at 6:55 p.m.