October 4 Special Meeting

Here is a brief update from the October 4, 2024, special Board of Trustees (BoT) meeting:

Key Highlights:

●     RDC Lease Agreement Finalized:

○     The Board discussed final revisions to the lease agreement with the Refugee Development Center (RDC). Key points include:

■     Clarified use of shared spaces, allowing RDC to request use once per month.

■     Acknowledgment of RDC’s $1.15 million capital contribution, with a $5,000 annual rent discount applied over 20 years.

■     Rent and operating cost calculations are based on a fair-share methodology, ensuring expenses are shared proportionally among tenants.

○     The lease will undergo a final legal review before it is officially signed.

●     Motion Approved:

○     The Board passed a motion to approve the updated lease agreement, pending any final legal changes.

If you have any questions regarding Splinters from the Board or the work of your Board, please reach out to us. We look forward to your continued engagement.

Laura Ray, President
president@uulansing.org