HomeMy WebLinkAbout11-19-02 TSHA Min MINUTES AND CERTIFICATION
On November 19, 2002,the Board of Directors (the"Board") of the Texa$
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
Annette Bush Treasurer
Dr. Forrest Watson Member
Becky Rogers Member
Dr. John Brooks Member
Vacant Member
All of whom were present except Dr. Brooks and Mr. Carter. Also present were: Mr.
Larry Williamson, Mr. Bill Moon, Mr. Allen Moon, Mr. Scott Bradley, Ms. Mary
Midgette, Mr. Trent Petty, Mr. Steve Block and Ms. Ginger Crosswy.
Vice President Blake called the meeting to order at 7:42 p.m.
Ms. Joanne Blaylock, President of the Student Living Division of JPI,was invited
to attend this meeting to discuss property management issues. No one from JPI was in
attendance and the Board expressed great disappointment.
The meeting convened into executive session at 7:43 and reconvened into open
session at 8:08 p.m. There was a motion coming out of executive session by Ms. Bush,
seconded by Ms. Rogers,to ask the consultants to pursue the purchase of The Exchange
in College Station with a purchase price cap of$29,500,000.00 and to authorize Block
and Associates to work on this project. There was no discussion and the motion carried
with three votes. Dr. Watson voted against the motion.
There was a motion by Ms. Bush, seconded by Ms. Rogers,to approve the minutes
of the meeting held on October 29, 2002, as presented. There was no discussion and the
motion carried unanimously.
Mr. Petty asked Mr. Williamson if an outstanding tax amount for $11,000.00 from
the previous owner of Jefferson Commons at Town Lake had been escrowed since we
keep receiving this bill? Mr. Williamson replied that he would have to check. Mr. Petty
gave a short report regarding the financial situation of this project and stated that with
realistic expectation as of today the proposed budget could be met. There was a motion
by Dr. Watson, seconded by Ms. Bush,not to adopt the proposed budget until
representatives from JPI come and present it to the Board, with the understanding that
until this happens the property managers are bound by last years budget. There was no
discussion and the motion carried unanimously.
Consider matters relating to the issuance of bonds and/or the acquisition of the
Jefferson Commons at Town Lake project in Austin. No action was needed on this item.
There was a motion by Ms. Bush, seconded by Ms. Rogers, to approve the
payment of an invoice from Whitley Penn for$248.00, to be paid out of the operating
budget. There was no discussion and the motion carried unanimously. There was a
motion by Ms. Bush, seconded by Dr. Watson,to approve the payment of an invoice from
Block and Associates for $20,212.50. There was no discussion and the motion carried
unanimously.
There being no further business the meeting was adjourned at 8:46 p.m.
MINUTES APPROVED AND CERTIFIED TO BE TRUE AND CORRECT and
to correctly reflect the duly constituted officers and members of the Board, and is hereby
certified to be a correct copy of an official copy thereof, on file among the official records
of the Board, on this the 27t" day of February, 2003.
ATTEST: Worth Blake,Vice President
`1
dingd Crosswy, Secrct