The URL can be used to link to this page

Home My WebLink About01-27-15 TSHA Min TEXAS,** STUDENT )BOUSING MINUTES OF THE BOARD OF DIRECTORS OF THE TEXAS STUDENT HOUSING AUTHORITY (AN INSTRUMENTALITY OF THE TOWN OF WESTLAKE) January 27, 2015 PRESENT: Directors, Scott Bradley, Liz Garvin, Gregg Malone, and Tracy Schornack. ABSENT: President Jim Carter and George Ledak OTHERS PRESENT: Executive Director Pete Ehrenberg and Secretary Kelly Edwards. 1. CALL TO ORDER Director Bradley called the meeting to order at 6:12 p m. 2. REVIEW AND APPROVE MINUTES FOR THE MEETING ON JUNE 17, 2014. MOTION: Director Schornack made a motion to approve the minutes. Director Malone seconded the motion. The motion carried by a vote of 4-0. 3. DISCUSS AND CONSIDER APPROVAL OF TSHA, CAMBRIDGE, TOWN LAKE, AND AUSTIN BALLPARK ANNUAL AUDITS FOR FY 2013-2014 PRESENTED BY WEAVER TIDWELL, L.L.P. Mr. Jerry Gaither, Partner, Assurance Services with Weaver Tidwell, L.L.P, provided a presentation and overview of Ballpark, Town Lake, Cambridge, and the Authority financials. Discussion ensued regarding the management recommendation regarding a segregation of duties, creating an agreement with properties determining the cost per student, and dormant JPI liability accounts. TSHA Min 01/27/15 Page 1 of 4 Mr. Gaither provided an overview Authority's statement of revenue and expenditures. MOTION: Director Garvin made a motion to approve the FY 2013-2014 Financial Audit for the Authority. Director Schornack seconded the motion. The motion carried by a vote of 4-0. Mr. Gaither then provided an overview Authority's statement of revenue and expenditures. Discussion ensued regarding the legal fees and payments to the C and D bond holders. MOTION: Director Malone made a motion to approve the FY 2013-2014 Financial Audit for the Cambridge. Director Schornack seconded the motion. The motion carried by a vote of 4-0. Mr. Gaither then provided an overview Town Lake statement of revenue and expenditures. Discussion ensued regarding capital expenditures. MOTION: Director Garvin made a motion to approve the FY 2013-2014 r Financial Audit for the Town Lake. Director Schornack seconded the motion. The motion carried by a vote of 4-0. Mr. Gaither then provided an overview Austin Ballpark statement of revenue and expenditures. Discussion ensued regarding a final audit for this property since its foreclosure in October 2014, MOTION: Director Schornack made a motion to approve the FY 2013-2014 Financial Audit for the Ballpark. Director Malone seconded the motion. The motion carried by a vote of 4-0. Director Bradley recessed the meeting at 7:20 p.m., to convene the Denton Project meeting. Director Bradley reconvened the meeting at 7:42 p.m. TSHA Min 01/27/15 Page 2 of 4 4. DISCUSSION REGARDING PENDING LITIGATION - TEXAS STUDENT HOUSING AUTHORITY v. BRAZOS COUNTY APPRAISAL DISTRICT AND APPRAISAL REVIEW BOARD FOR BRAZOS COUNTY APPRAISAL DISTRICT. Executive Director Ehrenberg provided an overview of the Supreme Court oral argument. Discussion ensued regarding both positive and negative outcomes of the courts decisions and managing the current scholarships. S. DISCUSS AND CONSIDER THE NUMBER OF SCHOLARSHIPS TO OFFER FOR THE 2015-2016 SCHOOL YEAR. Discussion ensued regarding the number of full and incremental scholarships at the Cambridge property in College Station. MOTION: Director Schornack made a motion to authorize the Executive Director to renew three (3) full scholarships and issue forty-seven (47) incremental scholarships. Director Garvin seconded the motion. The motion carried by a vote of 4-0. Discussion ensued regarding the number of full and incremental scholarships for Town Lake due to the foreclosure of the Ballpark property and to discontinue issuing provisional renewals. i MOTION: Director Garvin made a motion to authorize the Executive Director to renew two (2) full scholarships, renew current incremental scholarships, and offer any new available incremental scholarships negotiated with the property. Director Malone seconded the motion. The motion carried by a vote of 4-0. 6. EXECUTIVE DIRECTORS REPORT Executive Director Ehrenberg provided an overview of the Ballpark foreclosure proceedings, redevelopment in the Town Lake area, and new developments in College Station. 7. EXECUTIVE SESSION The Board convened into executive session at 8:16 p.m. The Board will conduct a closed session pursuant to Texas Government Code, annotated, Chapter 551, Subchapter D for the following: a. Section 551.074(a)(1): Deliberation Regarding Personnel Matters —to deliberate the appointment, employment, evaluation, reassignment, duties, of a public - officer or employee: Executive Director TSHA Min 01/27/15 Page 3 of 4 t 8. RECONVENE MEETING Director Bradley reconvened the meeting at 8:59 p.m. 9. TAKE ANY ACTION, IF NEEDED, FROM EXECUTIVE SESSION ITEMS. MOTION: Director Malone made a motion to continue the employment of the Executive Director Pete Ehrenberg effective February 1, 2015, reducing office hours to two (2) days per week and flexible schedule due to workload at a salary of$43,500 Director Schornack seconded the motion. The motion carried by a vote of 4-0. 10. ADJOURN Director Bradley asked for a motion to adjourn. MOTION: Director Schornack made a motion to adjourn the meeting. Director Garvin seconded the motion. The motion carried by a vote of 4-0. There being no further business before the board, Director Bradley declared the meeting adjourned at 9:03 p.m. THE TEXAS STUDENT HOUSING AUTHORITY BOARD OF DIRECTORS ON JUNE 23, 2015. ATTEST Scott Bradl , Director "V �:rJi Kel Edwa , s, Secretary s TSHA Min 01/27/15 Page 4 of 4