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 provides oversight and guidance regarding the University’s fiscal resources and may collaborate with the Strategic Planning and Facilities Committee about issues such as any needed revision(s) of institutional capital planning and any new construction or renovation projects with costs exceeding $250,000; and
WHEREAS, a timeline was provided by the contractor with a November 2027 completion date that is dependent on precast concrete being ordered prior to August 14, 2026; and
WHEREAS, a bid for project financing has been approved by the South Carolina Office of the Treasurer; and
WHEREAS, closing for the project financing has been delayed until on or about August 21, 2026; and
WHEREAS, the Winthrop University Board of Trustees has previously approved $1,600,000 for project preconstruction cost; and
WHEREAS, the cost for engineering and ordering the required precast construction is estimated to be an additional $3,400,000; and
WHEREAS, the Series Resolution adopted by the Winthrop University Board of Trustees on April 30, 2026, for the financing provides for reimbursement of project related costs from financing proceeds.
THEREFORE, BE IT RESOLVED that the Winthrop University Board of Trustees hereby approves an additional $3,400,000 from housing net position that, along with the previously approved $1,600,000, totals $5,000,000, all of which will be reimbursed by project financing proceeds, to fund a change order to the approved project contract to Juneau Construction to procure the necessary precast concrete for the project.
NOW, THEREFORE, 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 31st day of July, 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.
