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, pursuant to the Winthrop University Board of Trustees Bylaws art. VIII, §2, the Strategic Planning and Facilities Committee has the responsibility to consider and recommend to the Board for approval any proposal concerning the purchase, sale, lease, exchange or other disposition of any significant assets whose value exceeds $100,000 or involve real property assets of the University; and
WHEREAS, Winthrop University Real Estate Foundation (WUREF) has engaged the services of a consultant to explore potential uses and values of certain university real property assets; and
WHEREAS, the Board of Trustees of Winthrop University has approved a Campus Master Plan designating certain real property assets for potential third-party development; and
WHEREAS, Winthrop University was approached by Ace Solutions VV2, LLC, through WUREF, to provide a short-term lease to provide a temporary park and ride lot consisting of 500 parking spaces; and
WHEREAS, a portion of the university lot located on Cherry Road consists of adequate acreage to provide the requested 500 parking spaces without negatively impacting continued usage by the Winthrop community..
THEREFORE, BE IT RESOLVED, the Winthrop University Board of Trustees approves a three (3) year lease to provide Ace Solutions VV2, LLC, a portion of the lot located on Cherry Road to be used as a park and ride facility and, in so doing, ratifies the action taken by the Executive Committee on June 11, 2026, in accordance with the Trustee Bylaws, Article VIII, Section (1) (B) requiring ratification at the first regular meeting of the Board following the action by the Executive Committee.
BE IT FURTHER RESOLVED, that the rental income from the lease will be deposited into a fund in the Winthrop University Foundation designated, at the discretion of the Winthrop University President, to seed future WUREF third-party development activity and/or other capital renewal projects.
BE IT FURTHER RESOLVED, that the Secretary to the Board of Trustees shall certify that the Winthrop University Board of Trustees approved this resolution on the 25th day of June, 2026, in a regularly scheduled meeting. Such resolution shall be maintained and publicly posted by the Secretary of the Board at the time and in the manner required by law.
