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HomeMy WebLinkAbout05-18-04 TSHA Min MINUTES AND CERTIFICATION On May 18, 2004, the Board of Directors (the `Board") of the Texas Student Housing Authority convened in a public meeting at the designated meeting place in Westlake, Texas. The roll of the duly constituted officers and members of the Board was called, which are as follows: Name Title James P. Carter President Worth Blake Vice President Bill Branum Member Jac Irvine Member Becky Rogers Member Jill McKean-arrived later Member Vacant Member all of whom were present except Ms. McKean and Mr. Branum. Also present were: Mr. Mike McGrath, Mr. Chris Somers and Ms. Julie Bonnin of Asset Campus Housing. Mr. Scott Bradley, Mr. Hank Smyth,Mr. Allen Moon, Mr. Pete Ehrenberg, and Ms. Ginger Crosswy were present as well. President Carter called the meeting to order at 5:55 p.m. There was an update on the leasing situation at the Cambridge by Mike McGrath. Mr. Somers gave an update on the leasing at San Marcos. The name of the property in San Marcos has been changed to The Ridge at San Marcos. Mr. Somers said he had visited the Ballpark in Austin as well since Asset Campus Housing is taking over the management at the Ballpark on June I"and they are trying to avoid the issues they had in San Marcos. Ms. McKean arrived during this presentation. There was a lengthy question and answer session. The meeting was recessed at 6:25 p.m. and reconvened at 6:40 p.m. as the Asset Campus Housing representatives left the meeting. There was a motion by Ms. Rogers, seconded by Ms. McKean,to approve the minutes of the meetings held on March 29, 2004 and April 19, 2004 as presented. There was no discussion and the motion carried with four affirmative votes as Mr. Irvine abstained. Mr. Smyth gave an update to the Board regarding the scholarships awarded. A total of 96 renewals and 275 new scholarships have been awarded with the total value of new scholarships being $925K and renewals being $300K. He told the Board that JPI has resigned as property manager at UT Ballpark effective May 31 and Asset Campus Housing is in position to take over at that time. He updated the leasing numbers at all properties. He asked the Board to consider a policy change increasing the number of credit hours required to be considered a full time student. Currently the number is 12 credit hours and he is suggesting several numbers be considered with the maximum being 21 hours. The Board will consider this and revisit at a later time. During a report from the Finance Manager, Mr. Ehrenberg explained the procedure and the reason behind the change being made to require the students to pay their rent directly to TSH and then TSH to make the payment once a month to the property managers. He explained that due to the financial situation at the Cambridge this could not be done and the students there are to keep making their payments directly to Asset Campus Housing. Review and take any necessary action regarding bills. There was a motion by Mr. Blake, seconded by Mr. Irvine,to pay an invoice in the amount of$1,800.00 from Allen Moon. There was no discussion and the motion carried unanimously. Consider a Resolution authorizing the amendment of the Bylaws of the Texas Student Housing Authority, and resolving related matters. There was a lengthy discussion regarding the wording of this amendment and whether this made the Board look as if they were relinquishing their responsibility for the oversight of the finances of the Corporations. The Board asked Mr. Moon to change the wording of the amended bylaws and bring back to the Board for consideration. President Carter stated that since this was the only item on the agendas for the other Corporations those meetings were not necessary. President Carter suggested that Mr. Michael A. Milnac be approached regarding the vacant seat on the Board and filling the Treasurer's position. Mr. Blake told the Board he and his wife had visited the Cambridge and were very impressed with the reception they received. He suggested that the Board plan a group trip to visit the facility. Mr. Blake announced that the Board, along with Mr. Bradley, was asked to stay after the meeting to conduct Mr. Smyth's performance evaluation. There being no further business the meeting was adjourned at 7:55 p.m. The meeting was reopened at 8:50 p.m. with a report from the Performance Evaluation Committee in which they recommended the annual compensation(base salary) for the Executive Director be increased from $78,850.00 to $90,000.00 retroactive to March 9, 2004. There was a motion by Mr. Blake, seconded by Ms. Rogers, to accept the Committee's recommendation. There was no discussion and the motion carried unanimously. The meeting was then adjourned at 8:55 p.m. w MINUTES APPROVED AND CERTIFIED TO BE TRUE AND CORRECT and to correctly reflect the duly constituted officers and members of the Board, and is hereby certified to be a correct copy of an official copy thereof, on file among the official records of the Board, on this the 19th day of July 2004. Z, n ATTEST: s a i Inge rosswvy, Secrct