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09-21-2021 Special Called Meeting • SPECIAL CALLED MEETING OF THE ISLE OF WIGHT COUNTY BOARD OF SUPERVISORS HELD IN THE ROBERT C. CLAUD, SR. BOARD ROOM OF THE ISLE OF WIGHT COUNTY COURTHOUSE LOCATED AT 17090 MONUMENT CIRCLE, ISLE OF WIGHT, VIRGINIA ON THURSDAY, THE TWENTY-FIRST DAY OF SEPTEMBER IN THE YEAR TWO THOUSAND AND TWENTY-ONE PRESENT: Don G. Rosie, II, Carrsville District, Vice-Chairman Rudolph Jefferson, Hardy District William M. McCarty, Newport District Joel C. Acree, Windsor District ABSENT Richard L. Grice, Smithfield District, Chairman ALSO IN ATTENDANCE: Robert W. Jones, Jr., County Attorney Randy R. Keaton, County Administrator Donald T. Robertson, Assistant County Administrator Carey Mills Storm, Clerk CALL TO ORDER Vice-Chairman Rosie called the special meeting to order at 7:00 p.m. for the purpose of discussing the Guaranteed Maximum Price for the Windsor Elementary School. INVOCATION Assistant County Administrator Robertson delivered the invocation and led the Pledge of Allegiance to the flag. County Administrator Keaton provided up-to-date numbers related to financing of the new Hardy Elementary School. A slide related to the estimated tax increase for new debt was reviewed. Administrator Keaton reviewed the three options available to the County once the bonds have been issued. They were that the bonds can be paid off; however, these bonds have a non-callable provision for ten years which would require that the County pay the interest cost for the ten years regardless of whether the bonds are paid off or not. Secondly, the bonds can be repurposed for another project; however, the County does not have $27 million worth of projects to pay for in its Capital Improvements Project. Lastly, the project can be delayed. None of these are good options for the County. Bill Cram, Executive Vice President, M. B. Kahn Construction Company, Inc., advised that his firm has again reviewed the price of steel and added that cost back into the 1 previous price presented to the Board. He stated there are three steel suppliers that have promised bids by the end of the week and his firm is also reviewing design alternatives which could save in the low six figures. He recalled the number he presented to the Board at its last meeting was approximately $3 million additional dollars. Dr. Thornton advised that building Hardy Elementary School would provide some relief to both We.stside and Carrollton elementary schools and rezoning will be necessary and occur following a careful look at the growth in the northern end of the County. In order to move forward, Supervisor Jefferson moved to approve the Maximum Guaranteed Price for Hardy Elementary School in the amount of$36,869,639. The motion was adopted unanimously (4-0) with Supervisors Rosie, Acree, McCarty and Jefferson voting in favor and Supervisor Grice absent from the meeting. ADJOURNMENT At 8:05 p.m., Chairman Grice declared the special called meeting adjourned. eeettat6 51,1 Don Rosie, Vice-Chairman Carey Mills Storm, Clerk 2