HomeMy WebLinkAbout08-18-09 TSHA Min TEXAS1*
STUDENT HousING
MINUTES OF THE
BOARD OF DIRECTORS OF THE
TEXAS STUDENT HOUSING AUTHORITY
(AN INSTRUMENTALITY OF THE TOWN OF WESTLAKE)
August 18, 2009
PRESENT: President Jim Carter and Directors Jac Irvine, George Ledak, Jill McKean, and
Todd Robichaux.
ABSENT: Director Chuck Schultz.
OTHERS PRESENT: President Pete Ehrenberg, General Counsel Scott Bradley and
Secretary Kelly Edwards.
1. CALL TO ORDER.
President Carter called the meeting to order at 5:49 p.m.
President Carter asked for Todd and Kelly to introduce themselves to the Board.
Todd has lived in G1enWyck Farms 2 years, he has a public and private finance
background and he is married with 4 boys.
Kelly lives in North Fort Worth, recently left Textron in the private sector and served as
the City Secretary for the City of Roanoke for almost six (6) years.
2. DISCUSS AND CONSIDER APPROVAL OF MINUTES FROM MAY 261 20095
MEETING.
President Carter introduced the item and requested a motion.
MOTION: Director Jac Irvine made a motion to approve the minutes of the
May 26, 2009, meeting. Director Jill McKean seconded the
motion. The motion carried by a vote of 4-0 with Directors Ledak
and abstaining from the vote due to absence from the May 26,
2009, meeting.
3. HEAR AND DISCUSS REPORT BY TSHA TASKFORCE CHAIRMAN LARRY
CORSON.
The Taskforce met in July and decided on three (3)recommendations to present to
TSHA and Council on the direction of the process.
TSHA Board of Directors Page 2 of 3
Minutes
August 18,2009
The taskforce thought it was important to reduce the amount of full scholarships and
to contiue the partial scholarship program to, determine the optimum number of
scholarships and explore a White Knight investor to acquire the properties.
They also would like to establish a clear process and strategy for the flow of funds
from TSHA back to the town and the academy.
It was recommended that and RFP be used to obtain an investor that is familiar with
Student housing that can partner with TSH and purchase the bonds and take control of
the properties.
Larry said the goal is to find the right balance best for the TSH and Town. If an
investor is chosen then we could determin the number of full and incremental
scholarships given. Due to a number of economic issues the properties are
underutilized.
4. DISCUSS AND CONSIDER APPROVAL OF THE PROPOSED CHANGES TO
SCHOLARSHIP APPLICATION.
President Carter introduced the item and requested a motion.
MOTION: Director Robichaux made a motion to approve the Application as
revised. Director Ledak seconded the motion. The motion
carried by a vote of 5-0
Clarifying that no fee is require to process the application however upon
acceptance of a partial scholarship a $250.00 non refundable rental deposit will be
required at time of acceptance and will be applied to the students portion of the
housing cost,
5. DISCUSS AND CONSIDER APPROVAL OF THE PROPOSED CHANGES TO
SCHOLARSHIP SCORING PROCESS.
The Board discussed several revisions but the item was postponed.
MOTION: Director Jac Irvin made a motion to table THE PROPOSED
CHANGES TO SCHOLARSHIP SCORING PROCESS until
the September meeting. Director George Ledak seconded the
motion. The motion carried by a vote of 5-0
6. REVIEW AND DISCUSS PROPOSED CHANGES TO 2010-2011 SCHOLARSHIP
APPLICA'T'ION FOR BOTH HIGH SCHOOL SENIORS AND CURRENT
COLLEGE STUDENTS.
No Action Necessary
TSHA Board of Directors Page 3 of
Minutes
August 18,2009
7. EXECUTIVE DIRECTOR'S REPORT.
Executive Ehrenberg reviewed the 2009-2010 leasing status for all properties and
Property Financials, the Letter from the attorney regarding the TSH Revenue Bonds for
the Austin Project.
President Carter asked Pete for an Ethnicity report on the scholarships
Director Robichaux asked Pete why there were more applications from the Southen area
of Texas. Why local participation low.
Discussion ensued regarding the debt service reserve related to the bonds should TSHA
default.
S. ADJOURN.
There being no further business, Chairman Carter asked for a motion to adjourn.
MOTION: Director Ledak made a motion to adjourn the meeting. Director
Robichaux seconded the motion. The motion carried by a vote of
5-0.
There being no further business before the board, President Carter declared the meeting
adjourned at 8:25 p.m.
APPROVED BY THE TEXAS STUDENT HOUSING AUTHORITY BOARD OF
DIRECTORS, OCTOBER 20, 2009
Jim Carte President
ATTEST
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Ke ly Edi6rds, Secretary