HomeMy WebLinkAbout01-20-04 TSHA Min MINUTES AND CERTIFICATION
On January 20, 2004, 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
Michelle Corson Member
Jac Irvine Member
Becky Rogers Member
Vacant Member
Vacant Member
all of whom were present. 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 5:35 p.m.
There was a motion by Mr. Blake, seconded by Ms. Corson,to approve minutes of
the meeting of the Authority held on November 18, 2003. There was no discussion and
the motion carried unanimously.
Mr. Smyth told the Board he had received four proposals to take over the property
management duties at the TSH properties in Denton, Austin and San Marcos. The
proposal from Trammel Crowe was not considered due to the fact they had not addressed
the points asked for in the RFP. Mr. Smyth went through the fee schedule proposed by
each applicant. At this time Mr. Smyth asked Mr. Moon to speak regarding this item.
Mr. Moon told the Board that to remove JPI from the property management position the
bondholder has to approve the removal and the replacement company. After a lengthy
conversation with Ms. Leanne Parziale of Eaton Vance, the bondholder on the Denton
property, Mr. Moon said he was convinced Eaton Vance would not approve removing JPI
as the property managers in Denton due to the fact that JPI is not drawing a fee and is
basically working for free. There was a motion by Mr. Irvine, seconded by Ms. Corson,
asking Mr. Smyth to draft two letters, one to Eaton Vance letting them know that JPI is
doing a bad job, giving them our options, including the fact that we have interviewed new
applicants, and asking which they prefer. A second letter to JPI asking for their assurance
that the property is being properly maintained and their estimation of what steps need to
be taken to properly maintain the property. Mr. Smyth was asked to share the letters with
the Board before sending. After a lengthy discussion the motion carried unanimously.
Mr. Smyth proceeded with the presentation giving the Board his recommendation of
using Asset Campus Housing at the San Marcos property and Townlake in Austin and
using Collegiate Management at the property in Denton and Ballpark in Austin. There
was a motion by Ms. Corson, seconded by Ms. Rogers to write letters to the other
bondholders stating that the Board would like to change property managers on the other
three properties, but give all three properties to Asset Campus Housing instead of
splitting them between two management teams. This is subject to Mr. Smyth checking
the references and being able to negotiate a one-year renewable management agreement.
After a lengthy discussion the motion carried three for, Ms. Corson, Ms. Roger and Mr.
Irvine, and two against, President Carter and Mr. Blake.
Consider and take any necessary action on the audit for Jefferson Commons at the
Ballpark for the period December 27, 2001 through December 31, 2002. Mr. Smyth and
Mr. Ehrenberg presented the audit. There was a motion by Ms. Rogers, seconded by Ms.
Corson, to accept the audit. There was a short discussion after which the motion carried
unanimously.
Report from the Executive Director.
Report from the Finance Manager, which consisted of an update on the insurance
situation.
Mr. Blake asked the Board if a written policy regarding the requirements for
renewal of the scholarships could be put together? Mr, Smyth was asked to prepare this.
There being no further business the meeting was adjourned at 7:44 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 16th day of February 2004.
ATTEST:
es P. Cart esi nt
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Inge Crosswy, Secret