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through graduation. Students with balances who do not maintain program requirements will not be permitted to participate in graduation exercises.

Mr. McDuffie advised the board about conditions in the residence halls. Lobby furniture has been replaced, and bathroom renovations have been completed. Continuous monitoring of conditions in the dormitories is ongoing.

In the Halls, air conditioning units have been renovated to remove any mold spots. This is an area of ongoing maintenance and is reviewed bi-weekly. Also, KSU contracts with an environmental company to monitor environmental issues.

Consideration has been given to completely replacing the air conditioning units and Mr. McDuffie will obtain estimates for the full cost for replacement.

The Office of Residence Life conducts weekly room checks for cleaning or maintenance needs. Additionally, all rooms are checked thoroughly and floors/carpets are cleaned during the Winter break. Once students depart for the Summer, complete cleaning of the buildings are initiated.

Student surveys about residence hall needs are instituted twice annually, during the Winter and Spring. Mr. McDuffie will share student feedback at future meetings.

KSU plans to work with a private corporation to build a new residence hall that will house approximately 326 beds. After concluding an RFP process, the winning bidder was the Mantra Corporation. Mr. McDuffie expects that once new residence halls are built, older ones can be taken offline.

Andrew Schimmel, CEO of Mantra was introduced to the Board. Mantra is the private equity firm that will oversee the public-private partnership for building the new KSU residence hall.

Mantra has previously worked with other higher education institutions such as University of Miami and Nova Southeastern.

Mr. Schimmel discussed the process of building the new dorm. The dorm would consist of 3 buildings in a “village” concept located on the South side of campus near Young Hall. After a preliminary agreement is executed with KSU, it is envisioned that a design will be offered (after consultation with administration and other campus stakeholders), ground and facility leases executed and thereafter, construction would begin approximately 12 months later.

Mantra is a back office operation and would subsidize the Maintenance and Operations (M&O) of the project, though KSU would remain in control of the

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