HomeMy WebLinkAbout06-21-16 TSHA Min TEXAS'W
STUDENT HOUSING
MINUTES OF THE MEETING OF
THE BOARD OF DIRECTORS OF THE
TEXAS STUDENT HOUSING AUTHORITY
(AN INSTRUMENTALITY OF THE TOWN OF WESTLAKE) HELD June 21, 2016
99 Trophy Club Drive
Trophy Club, TX 76262
PRESENT: Board members Scott Bradley, Mark Harrow, Bryant Fisher, Randy
Quick, Trish Howard & Executive Director Tracy Schornack.
OTHERS PRESENT: Sonny Rath
1. CALL TO ORDER
President Bradley called the meeting to order at 6:05 p.m.
2. REVIEW AND APPROVE MINUTES FOR THE MEETING ON May 18, 2016.
MOTION: Director Fisher made a motion to approve the minutes of the May
18, 2016 meeting Director Quick seconded the motion. The
motion carried by a vote of 5-0.
3. MEETING ADJOURNED TO EXECUTIVE SESSION AT 6:07 P.M.
DISCUSSION: The Board will conduct a closed session pursuant to Texas
Government Code, Annotated, Chapter 551, Subchapter D, for the
following:
(a) Consultation with Attorney seeking advice of its attorney
about pending or contemplated litigation: MMA Capital
(b) Deliberation concerning (1) the possible sale, (2) the possible
refinancing and/or restructure of debt, and (3) the offer from
Nimes Capital, concerning Town Lake Apartments in Austin
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5. TAKE ANY ACTION, IF NEEDED, FROM EXECUTIVE SESSION ITEMS.
No action necessary at this time.
6. RECEIVE UPDATES FROM EXECUTIVE DIRECTOR ON OPERATIONS AND
CONSIDER APPROVAL OF BUDGETS FOR EACH PROPERTY.
DISCUSSION: 1)Town Lake budget needs to reflect a line item for legal fees of
$25,000/Month. Outstanding accounts payable of approximately
$134,000 should be carried forward to the 2016/17 budget.
2) Regarding Cambridge, TSHA scholarship money should be collected
and distributed prior to all other payments and not reflected as a budget
item.
3)Denton Ridge project should include a separate budget for needed
capital expenditures.
4)All property budgets should reflect accruals for prepayment by
students.
7. CONSIDER WEBSITE AUTOMATION TO ENABLE PAYMENT AND
APPLICATIONS VIA WEB WITH SONNY RATH, CEO &OWNER GRID365.
DISCUSSION: An example of grid365's work can be found at HOWM.org. Sonny
recommends Paypal or Stripe for accepting payments. There is an
associated fee for payment processing but it may be reduced for charities.
ACTTION: Executive Director Tracy Schornack will investigate the benefits of Web
capabilities.
B. RECEIVE UPDATES FROM BRYANT FISHER REGARDING SMART BOARDS FOR
WESTLAKE AND CONSIDER POSSIBLE PURCHASE
DISCUSSION: Bryant gave a presentation of the costs and procedure: Michelle Bryson
states that we can make a donation to the foundation with stipulation
regarding how it is to be spent. The need is 16 smart boards at a cost of
$8,000 each. Donations under$50,000 do not require a bid letting
process.
ACTION: Bryant will investigate further by discussion with Shelly Meyer.
9. ADJOURN.
Meeting adjourned at 8:38 p.m.
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APPROVED by the Texas Student Housing Authority Board of Directors on
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Scott Bradie , President (J
ATTEST:
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Trish Howard, Secretary
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