WHEREAS, pursuant to S.C. Code Ann. §59–125–1, et. seq., the Board of Trustees of Winthrop University was created and established as a body corporate for the purpose of effectuating the educational mission of Winthrop University; and
WHEREAS, at its annual meeting held on July 25, 2024, the Winthrop University Real Estate Foundation (WUREF) Board discussed financial options and, to the extent it is determined to be in the best interest of the University, requested to move forward with the transfer of The Courtyard to Winthrop University; and
WHEREAS, the Board of Trustees of Winthrop University, the State of South Carolina’s Joint Bond Review Committee and its State Fiscal Accountability Authority provided the necessary approvals for Winthrop University to acquire The Courtyard from WUREF; and
WHEREAS, Winthrop University and the State Treasurers Office secured the necessary funding, through a sanctioned competitive process, to acquire The Courtyard; and
WHEREAS, on March 21, 2025, a deed was recorded to transfer title of The Courtyard to Winthrop University; and
WHEREAS, WUREF will transfer approximately $6,000,000 in reserves and operating accounts associated with the operational activities of The Courtyard to Winthrop University; and
WHEREAS, The Courtyard is in need of additional repairs to its heating, ventilation and air conditioning system and related renovations totaling $3.6M over the next two summers;
THEREFORE, BE IT RESOLVED that the Winthrop University Board of Trustees hereby approves $3.6M of the reserve funds transferred from WUREF to be specifically used for repairs to The Courtyard’s heating, ventilation and air conditioning system and related renovations.
BE IT FURTHER RESOLVED that the Acting Secretary to the Board of Trustees shall certify that the Winthrop University Board of Trustees approved this resolution on the 1st day of May, 2025, in a regularly scheduled meeting. Such resolution shall be maintained and publicly posted by the Acting Secretary of the Board in a time and manner as required by law.
