HomeMy WebLinkAbout07-29-04 TSH San Marcos Min MINUTES AND CERTIFICATION
On July 29, 2004, the Board of Directors (the "Board") of the Texas Student
Housing San Marcos Project ("TSH-SMP") 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 Member
Vacant Member
all of whom were present except Mr. Carter and Ms. McKean. Also present were: Mr.
Scott Bradley, Mr. Hank Smyth, Mr. Allen Moon, Mr. Pete Ehrenberg, and Ms.
Ginger Crosswy.
Vice President Blake called the meeting to order at 6:35 p.m. Mr. Smyth told
the Board this meeting is to consider the budget that has been reworked according to the
Board's direction at the last meeting.
Mr. Smyth asked Mr. Ehrenberg to present the budget. Mr. Ehrenberg presented
the budget, telling the Board that the Ridge would need 92%occupancy to break even and
this budget is predicated on 85% occupancy. The debt service payment will be made on
August I but not on September 1. There was a long discussion regarding how the
leasing can be improved. Mr. Ehrenberg recommended approval of this budget.
There was a motion by Mr. Blake, seconded by Mr. Irvine, to adopt the 2004-05 budget
for the Ridge in San Marcos with the issuer fee for the City of Cameron included. There
was no further discussion and the motion carried unanimously.
There being no further business the meeting was adjourned at 7:00 p.m.
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 30`h day of August 2004.
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ATTEST: L
Worth Blake, Vice President
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