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HomeMy WebLinkAbout06-21-11 TSHA Min TEXAS STUDENT HousING MINUTES OF THE BOARD OF DIRECTORS OF THE TEXAS STUDENT HOUSING AUTHORITY (AN INSTRUMENTALITY OF THE TOWN OF WESTLAKE) June 21, 2011 PRESENT: President Tim Carter, Directors, Scott Bradley, Gregg Malone, and Jill McKean. ABSENT: George Ledak OTHERS PRESENT: Executive Director Pete Ehrenberg and Secretary Kelly Edwards. 1. CALL TO ORDER President Carter called the meeting to order at 5:44 p.m. 2. REVIEW AND APPROVE MINUTES FOR THE MEETING ON APRIL 19, 2011. MOTION: Director McKean made a motion to approve the minutes. Director Malone seconded the motion. The motion carried by a vote of 4-0. 3. REVIEW AND DISCUSS THE FY 2010-2011TSHA FINANCIALS. Director Ehrenberg provided an overview and update regarding the current financials. President Carter asked Pete to schedule a meeting with the Town Manager, Council Member Cox, and President Carter to discuss a payment to the Town. Discussion ensued regarding the amount of available funds that could be contributed to the Town and the reserve balance. TSHA Min 06/2111 Page 1 of 3 4. DISCUSS AND CONSIDER APPROVAL OF CAMBRIDGE, TOWN LAKE, AUSTIN BALLPARK, AND TSHA ANNUAL BUDGETS FY 2011-2012. Executive Director Ehrenberg provided an overview of the proposed expenses and revenues of Authority, Cambridge, Ballpark, and Town Lake budgets. Discussion ensued regarding the increases of food, utilities, payroll, reserve amounts, bond payments and capital expenditures per property. MOTION: Director McKean made a motion to approve the FY 2011-2012 budgets for Cambridge, Town Lake, Ballpark and TSHA. Director Malone seconded the motion. The motion carried by a vote of 4-0. S. EXECUTIVE SESSION The board convened into executive session at 6:40p.m. The Board will conduct a closed session pursuant to Texas Government Code, annotated, Chapter 551, Subchapter D for the following: a. Section 551.071: Consultation with Attorney - to seek advice of counsel on legal matters involving pending or contemplated litigation, settlement offers, or other legal matters not related directly to litigation or settlement. Pending or contemplated litigation and settlement offers include but are not limited to the following: Texas Student Housing Authority vs. Brazos County Appraisal District and Appraisal Review Board for Brazos County Appraisal District— CAUSE NO. 06-002328-CV-272 6. RECONVENE MEETING President Carter reconvened the meeting at 6:57 p.m. 7. TAKE ANY ACTION, IF NEEDED, FROM EXECUTIVE SESSION ITEMS. MOTION: Motion made by Director McKean to direct current counsel Kelly Hill to give notice of appeal and to authorize the General Counsel Bradley to review three (3) law firms that could represent TSHA in litigation regarding Texas Student Housing Authority vs. Brazos County Appraisal District and Appraisal Review Board for Brazos County Appraisal District— CAUSE NO. 06-002328-CV-272. Motion seconded by Director Malone. Motion carried by a vote of 4-0. TSHA Min 06/21/11 Page 2 of 3 S. EXECUTIVE DIRECTOR'S REPORT. Executive Director Ehrenberg provided and update to the board on the number of scholarships and updates on the property. 9. ADJOURN President Cater asked for a motion to adjourn. MOTION: Director McKean made a motion to adjourn the meeting. Director Malone seconded the motion. The motion carried by a vote of 4-0. There being no further business before the board, President Carter declared the meeting adjourned at 7:02 p.m. APPROVED BY THE TEXAS STUDENT HOUSING AUTHORITY BOARD OF DIRECTORS ON JANUARY 17, 2012. Jim Ca " sident ATTEST Kelly kwar4 Secretary TSHA Min 06/21/11 Page 3 of 3