HomeMy WebLinkAbout11-06-03 TSHA Min 1
MINUTES AND CERTIFICATION
On November 6, 2003, the Board of Directors (the "Board") of the Texas Student
Housing Authority convened in a public meeting at the designated meeting place in
Westlake, Texas. The roll of the duly constituted officers and members of the Board was
called,which are as follows:
Name Title
James P. Carter President
Worth Blake Vice President
Jac Irvine Member
Dr. Forrest Watson Member
Becky Rogers Member
Dr. John Brooks Member
Michelle Corson Member
all of whom were present except Ms. Corson, Dr. Watson, and Dr. Brooks. Also present
were: Mr. Scott Bradley, Mr. Allen Moon, Mr. Hank Smyth, Mr. Pete Ehrenberg and
Ms. Ginger Crosswy.
President Carter called the meeting to order at 6:08 p.m.
There was a motion by Ms. Rogers, seconded by Mr. Blake, to approve the
corrected minutes of the meeting held on August 5, 2003 as presented. After a short
discussion regarding the budgets approved at the meeting in August the motion carried
unanimously with Mr. Irvine abstaining.
There was a motion by Mr. Irvine, seconded by Ms_ Rogers, to approve the
minutes of the meeting held on September 16, 2003 with one correction. There was no
discussion and the motion carried unanimously.
The audit for Jefferson Commons at the Ballpark was not ready for consideration.
Mr. Smyth made his presentation asking the Board to change the scholarship
value from $3000.00 to $2500.00. There was a motion by Mr. Blake, seconded by Mr.
Irvine, to authorize staff of TSH to change the administrative fees that result in a net
benefit to the recipient of $2500.00. After a short discussion the motion carried
unanimously. The Board authorized Mr. Smyth to g ather inf ormation regarding t he
issuing of scholarships at facilities not owned by TSH. There was a motion by Ms.
Rogers, seconded by Mr. Irvine, to approve the TSH Entities budget submitted by staff
subject to certain modifications to be submitted to the Board for their consideration at the
next meeting. Mr. Smyth was asked to show the scholarship value on the budget to
reflect the correct percentage of monies collected going toward the scholarship program.
After a short discussion the motion carried unanimously.
Mr. Bradley left the meeting at 6:42 p.m.
Consider and take a ny ne cessary a ction o n t he a mended b udgets f or J efferson
Commons at the Ballpark and Townlake. Mr. Smyth presented the budgets to the Board
stating there are increases needed in both budgets to match TSH revenues to JPI
expenses. There was a motion by President Carter, seconded by Mr. Blake, to accept the
budgets for Jefferson Commons at the Ballpark and Townlake with the modifications
suggested by staff. There was a short discussion and the motion carried unanimously.
Consider and take any necessary action on the budget for The Cambridge at
College Station. There was a motion by Mr. Irvine, seconded by Ms. Rogers, to approve
the budget. There was a short discussion and the motion carried unanimously.
Consider and take any action appropriate to effect the proper management and
operation of the projects owned by TSH. There was a motion by Ms. Rogers, seconded
by Mr. Irvine, to authorize staff to continue to negotiate with JPI regarding the asset
management fees. There was not discussion and the motion carried unanimously.
Consider and take any necessary action regarding bills and other financial matters.
There was a motion by Mr. Blake, seconded by Ms. Rogers, to pay an invoice from Allen
Moon in t he amount of $10,450.00 for work done in September and October and an
invoice from Larry Williamson in the amount of$25,750.00. After a short discussion the
motion carried unanimously.
President Carter asked Mr. Smyth what the situation is regarding the D&O
insurance for the Board. Mr. Ehrenberg answered that the current policy has been
extended to January 11, 2004 and he is in the process of getting the required policy
written to cover the Board for the next year.
Mr. Smyth stated Asset Campus Management would like to make a proposal
regarding assuming the management of TSH properties in Austin, Denton and San
Marcos at the meeting scheduled for the 18"' of November. Everyone was encouraged to
attend.
There being no further business the meet adjourned at 8:25 p.m.
MINUTES APPROVED AND CERTIFIED TO BE TRUE AND CORRECT and
to correctly reflect the duly constituted office, d members of the Board, and is hereby
certified to be a correct copy of an offcial spy t ereof, on file the official ecords
of the Board, on this the 181h day of Nov er 20 3.
ATTEST:
Ja . C ident
ing Crosswy, Seer ary