HomeMy WebLinkAbout06-26-07 TSH San Marcos Min
MINUTES OF THE MEETING OF THE
BOARD OF DIRECTORS OF THE
TEXAS STUDENT HOUSING AUTHORITY – SAN MARCOS PROJECT
(AN INSTRUMENTALITY OF THE TOWN OF WESTLAKE)
JUNE 26, 2007
PRESENT: Chairman Jim Carter and Directors’ Larry Darlage, Jac Irvine, and Melanie
Lekkos.
ABSENT: Directors’ Gary Fickes, Jill McKean, Chuck Schultz, and General Counsel Scott
Bradley.
OTHERS PRESENT: President Hank Smyth, Finance Manager Pete Ehrenberg, and
Secretary Kim Sutter.
1. CALL TO ORDER.
Chair Carter called the meeting to order at 5:56 p.m.
2. REVIEW AND APPROVE MINUTES OF FEBRUARY 20, 2007.
Chairman Carter introduced the item and asked for a motion to approve the minutes.
MOTION: Director Darlage made a motion to approve the minutes as presented.
Director Irvine seconded the motion. The motion carried by a vote of 4-0.
3. CONSIDER APPROVAL OF FY 2007-2008 BUDGET.
Finance Manager Pete Ehrenberg advised the Board that the proposed budget is based on
a 93.5 percent occupancy rates, and contemplates a 3.5% increase in revenues, and a
decrease in expenses. Mr. Ehrenberg reported that MuniMae has agreed to a payment of
$80,000 toward the debt service, totaling $960,000.00 for the year.
MOTION: Director Darlage made a motion to approve the budget as presented.
Director Lekkos seconded the motion. The motion carried by a vote of 4-
0.
TSHA – San Marcos Project Page 2 of 2
June 26, 2007
4. ADJOURN.
There being no further business before the board, Chair Carter declared the meeting
adjourned at 6:05 p.m.
APPROVED BY THE TEXAS STUDENT HOUSING AUTHORITY BOARD OF
DIRECTORS NOVEMBER 20, 2007.
The Minutes are approved and certified to be a true and correct reflection of the actions of the
officers and members of the Board, and is hereby certified to be an official copy thereof, on file
among the official records of the Board, on this the 20th day of November 2007.
______________________________________
Jim Carter, Chair
ATTEST
____________________________________
Kim Sutter, Secretary