HomeMy WebLinkAbout08-08-17 TSH Denton Min TTR-i
STUDENT HousING
MINUTES OF THE MEETING OF
THE BOARD OF DIRECTORS OF THE
TEXAS STUDENT HOUSING CORPORATION — DENTON PROJECT
Held August 8th, 2017
At
99 Trophy Club Drive
Conference Room
Trophy Club, TX 76262
PRESENT: Board members Scott Bradley, Mark Harrow, James Krekow,
Katie Kolkmeier, Paula Petersen, and Executive Director Tracy
Schomack. Not present: Randy Quick and Trish Howard
1. CALL TO ORDER.
President Bradley called the meeting to order at 8:00 pm.
2. REVIEW AND APPROVE MINUTES FOR THE MEETING HELD March 2, 2017.
DISCUSSION: Director Harrow made a motion to approve the minutes of the
March 2, 2017 meeting. President Bradley seconded the motion.
Motion carried unanimously.
3. RECEIVE UPDATE FROM EXECUTIVE DIRECTOR TRACY SCHORNACK ON FINAL
SCHOLARSHIP COUNT AND THE VALUE OF SCHOLARSHHIP AWARDS FOR
2017-2018 SCHOOL YEAR.
DISCUSSION: Denton has 24 scholarships; 3 full scholarships valued at $5760
and 21 partial scholarships valued at $2500 each for a total value
of scholarships awarded at $70,320.
4. DISCUSS AND APPROVE THE DENTON BUDGET FOR FY 2017-2018.
DISCUSSION: Director Harrow made a motion to approve the Denton budget.
Director Petersen seconded the motion. Motion passed
unanimously.
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5. DISCUSS INQUIRY FROM EMET CAPITAL AND GREYSTONE REAL ESTATE
ADVISORS CONCERNING THE DENTON PROPERTY.
DISCUSSION: The Board discussed inquiries and decided that the property is
currently not for sale. No further action taken.
6. RECEIVE UPDATE FROM EXECUTIVE DIRECTOR ON STATUS OF ROOF
REPLACEMENT AND ADDITIONAL CAP-EX FOR PAINTING EXTERIORS AND
FENCE REPLACEMENT.
DISCUSSION: Executive Director Schornack reported that the roof repair is
complete and the painting estimate of$238,000 has been
approved by the bondholder. There is currently $211,000 in the
CapEx account and the remaining amount will fund by the end of
August. Payment to be dispersed in September. The property's
fence needs replacing at a cost of$50,656 and has been
budgeted in the next fiscal year budget.
7. DISCUSS AND APPROVE ASSET CAMPUS TO REQUIRE RENTER'S INSURANCE
FOR ALL STUDENTS BEGINNING 2018 FALL SEMESTER.
DISCUSSION: Executive Director Schornack indicated Asset Campus was going
to require renter's insurance for all students beginning with the
fall semester of 2018. Students will be given the option to obtain
their own renter's insurance or Asset Campus will charge $11.95
per month for coverage. President Bradley made the motion that
TSHA approve the policy to require students to obtain renter's
insurance or purchase renter's insurance through the property;
provided that any income from the sale of renter's insurance will
accrue to the property. Director Petersen seconded the motion.
After discussion, the motion passed unanimously.
8. ADJOURNMENT Meeting adjourned at 8:11 pm.
APPROVED by the Texas Student Housing Authority Board of Directors on
2017.
Gp.
Scott Bradley, President
ATTEST:
Katie Kolkmeier, Secretary
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