HomeMy WebLinkAbout05-26-09 THS Denton Min TEXAS1w
bTUDENT
MINUTES OF THE MEETING OF
THE BOARD OF DIRECTORS OF THE
TEXAS STUDENT HOUSING CORPORATION—DENTON PROJECT
(AN INSTRUMENTALITY OF THE TOWN OF WESTLAKE)
MAY 2b, 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, Chairman
ATTEST: �+
Kelly Ed ds, Secretary for
Kim Sutter, TRMC, Secretary