Good morning and welcome everyone. I call this special board meeting of the Prior Lake Savage Area Schools Board of Education to order at 8 a.m. on Monday, December 22nd. Um, please join me with the pledge of allegiance as you're able. I pledge algiance to the flag of the United States of America and to the republic for which it stands. One nation under God, indivisible, with liberty and justice for all. >> For all. >> All right. This morning we have um all board members are present except for director France. We have directors Olstead and director Johnson participating remotely as permitted by Minnesota State Statute 13D.02. Um, now I will entertain a motion to accept the agenda as presented. >> By director Mason, second by Director Atinson, and this will be a roll call vote. Um, director Smith >> I. >> Director Atinson >> I. Director Mason I >> Director Olstead >> I >> Director Johnson >> I [clears throat] >> and I that is passes 6. Um um so our agenda is uh regarding the sale of the district services center. [clears throat] Um board action is requested and acceptance of the offer is will be presented by Dr. Thomas. >> Thank you chair Bullan and board of directors. Um today I want to just share a little context for where we're at with regards to the potential sale of the DSC. Um last week or so uh we had a close session because we had an offer come in um on December 4th I believe thereabouts. Uh and um that offer was shared with the quorum of the board uh during close session and um after that close session discussion, we um had a counter offer uh that went back to the buyer's agent and that counter offer with some revisions was accepted. And what you [clears throat] have uploaded um should be this document um which was a striketh through document. So you can see so I'll just kind of synthesize um where we are landing um in terms of the actual counter offer that uh in discussion with our broker is recommending that um we uh move forward. So, as you know, we listed the off uh this property um for 2.75. Sorry, let me grab my glasses. Um and the potential buyer um agreed to uh our counter, which is 2.65 cash at close. Um the buyer has also agreed to increase the earnest money to $100,000. Um, [clears throat] and the buyer also is agreeing to have our due diligence window to be at 270 or sooner. [snorts] And the moment that they are completed with a due diligence period, no longer than 270, that $100,000 um in its entirety becomes uh non-refundable. And then our closing date um would be a 90-day close. Um and then a total of 6% brokerage fees split between both the purchasing and the seller agent at three and three which is pretty industry standard. Um and uh and that's where we are landing in terms of the offer. And so, um, we are coming to you today, um, to request you to take action, um, around the offer to sell the DSC, um, with the terms. And then following your action, [snorts] um, we would work with the buyer's agent to, um, then receive a purchase agreement and things of that nature. >> Anything I've missed out, Dan? >> Okay. open for [snorts] discussion, questions. >> I just had a quick question. I just wondered if that due diligence period of 270 days, is that pretty standard? It >> It is. So, I I asked Becky, we actually explored the possibility of shortening that and just wondering what um and so where we landed it now says 270 or sooner. So it may not take 270, but she said it is very industry standard in the commercial sale um area where um gives them gives the potential buyer time to look at zoning requirements if they have to change any of that. They would [snorts] also do in that due diligence um to see if there are aspects about the property that would that would negate um their ability to advance in the direction that they want. Uh, one of the hypotheticals that I shared um, and Dan and I were talking is let's say none of us are aware that this used to be a gas station 100 years ago and if there's a 100gallon oil tank sitting under the parking lot that they discover as they do some soil boring and say hey what's this that would be the kind of things that they would you know they would have to contend with and that might come back then to say well we found this we want to revise our offer because now it's going to be more abatement of soil or whatever it might So, so yes, she said that that due diligence period is very standard. [snorts] >> Dr. Smith, [snorts] >> um, so what were we at originally with because Saron Properties must have come down with what uh what their commission was going to be? What was that originally at? If I remember correctly, they had theirs at uh >> 3.5%. >> It was 3.5%. Okay. Um >> Okay. >> Director Ols or Director Johnson, any questions? You guys good? No, I'm good. >> All right. Uh, so I'm >> so happy. >> Yeah, I I would agree. It's It's nice to have an offer come in so so quickly and so um close to our original listing amount. So, I agree. Um with with no questions, uh we will entertain a a vote to um accept the offer presented and I will go around with a roll call vote. Director Smith, you need a motion. >> Oh, I need a motion. Yes. >> Um and also can I build on that? Can can can the motion include the acceptance of the offer as well as us to move forward with negotiating the purchase agreement process? So I will take a motion for that. >> So moved >> by Director Smith. Second. Second by Director Atinson. And then that will be a roll call vote. Director Smith. >> I. >> Director Atinson. >> Hi. >> Director Mason. >> Hi. >> Director Olsen. >> I. >> Director Johnson. And that and I. So that passes 6. Now I will entertain a motion to adjurnn. I [laughter] >> director Atinson >> made sorry >> second >> plus for a second >> director Smith all in favor oh sorry roll call vote director Smith >> director Atinson I >> director Mason I >> director Olstead I >> director Johnson I >> and I that passes 6 we are adjourned thank you everybody