WHEREAS, pursuant to S.C. Code Ann. §59–125–1, et. seq., the Board of Trustees of Winthrop University is 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 Finance Committee has the responsibility to consider, in collaboration with the Strategic Planning and Facilities Committee, any needed revision(s) of institutional capital planning and any new construction or renovation projects with costs exceeding $250,000; and
WHEREAS, the construction of a new residence hall (“Student Housing Project”) is one of the administration’s priorities to enhance student growth and retention; and
WHEREAS, the construction of a new residence hall, along with an initial $600,000 to fund a portion of preconstruction services and the authorization to seek appropriate financing for the project, was approved at the August 27, 2025, special called meeting of the Winthrop Board of Trustees; and
WHEREAS, the Office of State Engineers selected Juneau Construction as the Design- Build Contractor to both lead the overall project design, in conjunction with Boudreaux Architects, and then construct the new residence hall; and
WHEREAS, both the Joint Bond Resolution Committee (JRBC) and the State Fiscal Accountability Authority (SFAA) have approved Phase 1 of this project; and
WHEREAS, initial materials for Phase 2 of the project have been submitted to JRBC and SFAA for the June 9, 2026, and June 16, 2026, meetings, respectively, with the Bond Resolution to be submitted in a timely manner following Board of Trustee approval at the April 29-30, 2026, meeting; and
WHEREAS, the financing schedule created by Winthrop’s financial advisors, First Tryon Advisors, projects the closing for financing on August 12, 2026; and
WHEREAS, the schedule in the Juneau Construction design-build agreement indicates that, in order to maintain a November 2027 project completion date, approximately $1,600,000 of preconstruction expenses will incur prior to the August 12, 2026, financing close date; and
WHEREAS, the Bond Resolution for the financing provides for reimbursement of project related costs from financing proceeds; and
WHEREAS, the Board of Trustees recognizes that any project expenditures prior to JRBC and SFAA approval are at risk to Winthrop University.
NOW, THEREFORE, BE IT RESOLVED that the Winthrop University Board of Trustees hereby approves the design-build construction contract with Juneau Construction for the Student Housing Project with initial design-preconstruction fees not to exceed $600,000.
BE IT FURTHER RESOLVED that the Winthrop University Board of Trustees hereby approves an additional $1,000,000 from housing net position to fund additional preconstruction costs associated with the Juneau Construction contract anticipated to be incurred prior to the scheduled bond closure date.
BE IT FURTHER RESOLVED that the Winthrop University Board of Trustees hereby authorizes the President of Winthrop University to execute all necessary change orders to the Juneau Construction contract to effectuate the completion the Student Housing Project, based on available funding.
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 8th day of April, 2026, in a special called 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.
