HomeMy WebLinkAbout05-26-09 TSH Denton Min PEXAS
STUDENT ., HousING
MINUTES OF THE MEETING OF
THE BOARD OF DIRECTORS OFT E
TEXAS STUDENT HOUSING CORPORATION—DENT ON PROJECT
(AN INSTRUMENTALITY OFT E TOWN OF WESTLA )
MAY 26,2009
PRESENT: President Jim Carter and Directors Jac Irvine, George Ledak, Jill McKean, and
Chuck Schultz.
ABSENT: Directors George Ledak and Melanie Lekkos.
OTHERS PRESENT: Executive Director Pete Ehrenberg, Secretary Kim Sutter, and
General Counsel Scott Bradley.
1. CALL. TO ORDER.
President Carter called the meeting at 5:55 p.m.
2. DISCUSS AND CONSIDER APPROVAL OF MINUTES FROM THE MEETING
OF THE TEXAS STUDENT HOUSING CORPORATION — DENTON PROJECT
HELD JANUARY 20, 2009.
President Carter introduced the item and asked for a motion.
MOTION: Director Schultz made a motion to approve the minutes as presented.
Director McKean seconded the motion. The motion carried by a vote of
4-0. 0
3. DISCUSS AND CONSIDER APPROVAL OF THE FY 2009-2010 BUDGET.
Finance Manager Pete Ehrenberg presented the proposed budget to the Board, and
advised that the budget is based on an 81% occupancy rate.
Discussion ensued regarding the preleasing rate, the effect of new properties to the
Denton property, the increase in the management fee based on preleasing, negatives of a
4/2 floor plan, debt service, need to review marketing plan next year, and possibly
consider an advisory board consisting of area school superintendents.
MOTION: Director Irvine made a motion to approve the FY 2009-2010 Denton
project budget as presented. Director Schultz seconded the motion. The
motion carried by a vote of 4-0.
4. ADJOURN.
There being no further business before the Board, Chairman Carter declared the meeting
adjourned at 6:36 p.m.
APPROVED BY THE TEXAS STUDENT HOUSING CORPORATION DENTON
PROJECT ON JANUARY 19, 2010.
Jim'Carter, Ch�irman
ATTEST:
Kelly Ed ds, Secretary for
Kim Sutter, TRMC, Secretary