HomeMy WebLinkAbout10-04-16 TSHA Min G
MINUTES OF THE OCTOBER 4, 2016 MEETING
OF
THE BOARD OF DIRECTORS OF THE
TEXAS STUDENT HOUSING AUTHORITY
(AN INSTRUMENTALITY OF THE TOWN OF WESTLAKE)
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: None
1. CALL TO ORDER
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President Bradley called the meeting to order at 6:00
2. REVIEW AND APPROVE MINUTES FOR THE MEETING ON August 23,
2016.
MOTION: Director Howard made a motion to approve the minutes of
the August 23, 2016 meeting Director Fischer seconded the
motion. The motion carried by a vote of 5-0.
3. MEETING ADJOURNED TO EXECUTIVE SESSION AT 6:02 P.M.
DISCUSSION: The Board will conduct a closed session pursuant to Texas
Government Code, Annotated, Chapter 551, Subchapter D,
for the following:
• Consultation with Attorney seeking advice of its
attorney about pending or contemplated litigation:
MMA Capital
• Deliberation concerning (1) the possible sale, (2) the
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possible refinancing and/or restructure of debt, and(3)
the offer from Nimes Capital, concerning Town Lake
Apartments in Austin
4. MEETING RECONVENED AT 7:06 P.M.
5. TAKE ANY ACTION, IF NEEDED, FROM EXECUTIVE SESSION ITEMS.
No action needed.
6. RECEIVE UPDATES FROM EXECUTIVE DIRECTOR ON OPERATIONS
AND CONSIDER APPROVAL OF FISCAL YEAR 2017 REVISED BUDGET
FOR THE CAMBRIDGE PROPERTY.
DISCUSSION: Director Schomack presented:
1) Revised budgets for Cambridge project.
MOTION: Motion by Director Quick to approve the budget upon the
condition that it is revised to correctly reflect vacancy loss
and income from the TSHA scholarship program. Director
Fisher seconded the motion and it was approved by a vote
of 5-0.
7. RECEIVE UPDATES FROM BRYANT FISHER REGARDING SMART
BOARDS FOR WESTLAKE ACADEMY
DISCUSSION: Director Fisher informed the board that smart boards will
not be successful for a matching campaign but funding for
the Library expansion likely could be matched with a
challenge.
ACTION: The Board requested that Director Fisher investigate the
master plan for the school.
8. ADJOURN.
Meeting adjourned at 8:11 p.m.
APPROVED by the Texas Student Housing Authority Board of Directors on
2016.
Sc Bradley, Presid
ATTEST:
Trish Howa d, Secretary
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