HomeMy WebLinkAbout08-30-04 TSHA Min MINUTES AND CERTIFICATION
On August 30, 2004, the Board of Directors (the "Board") of the Texas Student
Housing Authority ("TSH") 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. Branum and Ms. McKean. Also present were: Mr.
Scott Bradley, Mr. Hank Smyth,Mr. Allen Moon, Mr. Pete Ehrenberg, Ms. Carolyn
Sims and Ms. Ginger Crosswy.
President Carter called the meeting to order at 5:45 p.m.
There was a motion by Ms. Rogers, seconded by Mr. Irvine, to approve the
minutes of the meetings of the Texas Student Housing Authority,the Texas Student
Housing-Denton Project and the Texas Student Housing-San Marcos Project held on July
29, 2004 as presented. There was no discussion and the motion carried unanimously.
Mr. Smyth passed out his Executive Director Report and briefly covered it with
the Board_ There was a short discussion regarding the resignation of JPI as property
manager in Denton with the effective date being September 30''. There was a long
discussion concerning how TSH should pay the expense of the scholarships that are in
place,with Board consensus being that the incremental cost should be the cost for the full
scholarship students as well as the partial scholarships. The way the scholarship
revenue is shown in the property budgets was discussed. President Carter asked Mr.
Ehrenberg to recalculate the revenue variance without the scholarship revenue being
included. Mr. Smyth gave a summary of the current percentage that each property is
pre-leased and the final number of scholarships offered and accepted.
Mr. Ehrenberg presented the TSH budget to the Board, explaining the line items
and how he calculated the numbers. After a short question and answer session there
was a motion by Mr. Blake, seconded by Mr. Irvine,to adopt the budget as presented.
There was no further discussion and the motion carried unanimously. Mr. Smyth told
the Board that he and Mr. Ehrenberg met with Mr. McCune and Mr. Strickland at
Northwest Bank and asked the bank to share the interest being earned from TSH money
flowing through the bank. Mr. McCune answered that they would get back to Mr.
Smyth with a proposal. This could be as much as $30,000.00 to $40,000.00 per year.
Mr. Smyth told the Board that TSH has received two proposals to conduct the yearly
audit on TSHA and that staff recommends that the Board award the bid to Weaver &
Tidwell. President Carter stated that since one of the companies in consideration is
Whitley Penn he would abstain from the discussion and vote. There was a motion by
Mr. Irvine, seconded by Ms. Rogers, to award the bid for the audit to Weaver& Tidwell.
There was no further discussion and the motion carried with three votes in favor.
There was a motion by Mr. Irvine, seconded by Ms. Rogers,to pay an invoice
from Thomas Allen Moon in the amount of$3,550.00 for July legal fees and an invoice
from the Marriott Solana in the amount of$2,053.80 for the scholarship reception. There
was no discussion and the motion carried unanimously.
Mr. Bradley told the Board that the Marbach litigation has been settled.
President Carter told the Board that the scholarship reception was very nice and he
was sorry that some of the Board members had not been able to attend. He gave a brief
report on his visit to College Station.
Mr. Smyth told the Board that the current plan is to meet in September and
November but not in October and December.
At this time Ms. Crosswy was asked to leave the room as the Board discussed her
departure.
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 26h day of October 2004.
ATTEST:
9P.jesCarter,eP4-.'sident
Ginger Crosswy, Secretary
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