Agenda - Council - 07/12/2022 - Laserfiche WebLink

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or officers and the sale is an arm's length transaction. See "SOURCES AND USES OF FUNDS" and "APPENDIX A—THE COMPANY, THE CHARTER SCHOOL, AND THE SERIES 2022 PROJECT— THE SCHOOL FACILITIES AND THE SERIES 2022 PROJECT"in this Official Statement. Upper School Campus Construction [[TO BE UPDATED UPON RECEIPT AND REVIEW OF DRAFT CONSTRUCTION CONTRACT]][The Upper School Campus will be constructed by [ ] (the "Contractor"), based in [ ], Minnesota. The Contractor was founded in [ ] and has over [ ] years of experience in providing pre-construction planning, construction management and general contracting services to community, healthcare, corporate, and multifamily clients throughout the State. The Company has entered into two Standard Form of Agreement Between Owner and Contractor for Labor (the "Labor Agreement")with the Contractor and a separate materials agreement(the"Materials Agreement"),between the Company and the Contractor. The Labor Agreement and the Materials Agreement are collectively referred to as the"Construction Contract." Subject to additions and deductions authorized by the Company pursuant to the Construction Contract,the guaranteed maximum price is estimated not to exceed$[_]* for labor and materials in connection with the construction of the Upper School Campus. The Company anticipates purchasing the payment and performance bond for the construction of the Upper School Campus and the funds for such bonds are included in the Company's budget for the Upper School Campus. The Construction Contract provides that the Contractor will achieve substantial completion of the Upper School Campus no later than 365 days from the date of commencement of construction(estimated to be completed by August 2023) and does not require liquidated damages in case of late delivery of the Upper School Campus. The Construction Contract provides that if the Contractor is delayed in starting the work by circumstances outside its control,the Company,the Charter School, [ ] (the"Architect"), and the Contractor will coordinate a completion plan for the building that will satisfy the City of Ramsey for issuance of a temporary certificate of occupancy for the beginning of the Fall 2023 school year. The Labor Contract and the Materials Contract each require the Contractor to provide a payment and performance bond equal to 100% of the guaranteed maximum price of each contract.] The construction of the Upper School Campus is expected to begin in [August] 2022 and be completed by August 2023 prior to the scheduled start of the 2023-2024 school year in September 2023. See"APPENDIX A—THE COMPANY,THE CHARTER SCHOOL,AND THE SERIES 2022 PROJECT —THE SCHOOL FACILITIES AND THE SERIES 2022 PROJECT"in this Official Statement. Elementary School Campus Renovations A portion of the proceeds of the Series 2022 Bonds will be used to finance certain interior renovations to the Original School Facility to equip the Original School Facility to transition from serving grades kindergarten to twelve to serving grades kindergarten through five (the "Elementary School Renovations"). The Original School Facility, as improved by the Elementary School Renovations is referred to herein as the "Elementary School Campus". [[TO BE UPDATED]][Elementary School Renovations will be completed by [ ] pursuant to a [ Agreement] dated as of[ , 20 ]. The construction of the Elementary School Renovations is expected to begin in [ 20 ] and be completed by[ 20 ]prior to the scheduled start of the 2023-2024 school year.] See"APPENDIX A — THE COMPANY, THE CHARTER SCHOOL, AND THE SERIES 2022 PROJECT —THE SCHOOL FACILITIES AND THE SERIES 2022 PROJECT"in this Official Statement. The Owner's Representative and Development Consultant The Company has engaged JB Vang Partners,Inc. of St. Paul,Minnesota("JBVP"),to serve as the owner's representative and development consultant in connection with the construction of the Series 2022 *Preliminary, subject to change. 7