HomeMy WebLinkAbout01-29-20 TSH Denton MinTF7x-As-I*
STUDENT HOUSING
MINUTES OF THE MEETING OF
THE BOARD OF DIRECTORS OF THE
TEXAS STUDENT HOUSING CORPORATION — DENTON PROJECT
January 29, 2020
99 Trophy Club Drive
Trophy Club, TX 76262
PRESENT: Board members Scott Bradley, James Krekow, Paula Petersen, Randall
Quick, Katie Kolkineier, Executive Director Tracy Harrow, and guest
John DeBurro. Not present: Board members Rich Mueller and Mark
Harrow.
1. CALL TO ORDER.
President Bradley called the meeting to order at 6:50 pm.
2. REVIEW AND CONSIDER APPROVAL OF MINUTES FOR THE MEETING HELD
OCTOBER 30, 2019.
DISCUSSION: Director Krekow made a motion to approve the minutes of the
October 30, 2019 meeting. Director Petersen seconded the motion. The
motion passed unanimously with Director Quick abstaining.
3. REVIEW AND CONSIDER APPROVAL OF MINUTES FOR THE MEETING HELD
NOVEMBER 21, 2019.
DISCUSSION: Director Krekow made a motion to approve the minutes of the
November 21, 2019 meeting. Director Petersen seconded the motion.
The motion passed unanimously.
4. REVIEW AND CONSIDER APPROVAL OF THE AUDIT FOR THE RIDGE
APARTMENTS FOR 2019.
DISCUSSION: John DeBurro, Audit Partner from Weaver, presented the Board with
audited financials from 2019 for The Ridge Apartments. Director Quick
made a motion to approve the audited financials. Director Petersen
seconded the motion. The motion carried unanimously.
The Board moved into recess at 6:53pm. The Board came back in
session at 7:36pm.
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5. REVIEW AND CONSIDER APPROVAL OF A REVISED BUDGET FOR THE RIDGE
APARTMENTS FOR 2020.
DISCUSSION: Executive Director Tracy Harrow presented a need to revise the 2020
budget for The Ridge Apartments to cover fees associated with the
TXDOT eminent domain project. Director Quick made a motion to
approve a revised budget with an additional $112,000 for legal fees
related to the TXDOT eminent domain project. Director Petersen
seconded the motion. The motion carried unanimously.
6. EXECUTIVE SESSION
The Texas Student Housing Corporation — Denton Project Board convened into executive
session at 7:46pm to conduct a closed session pursuant to Texas
Government Code, Annotated, Chapter 551, Subchapter D, Section
551.072 for the following: Consultation with attorney whereby the
Board seeks advice about deliberation regarding real property: Offers
for parcels 107 and 115 pertaining to the TXDOT eminent domain
project at The Ridge Apartments and refinancing of debt and related
legal fees for The Ridge Apartments
7. RECONVENE MEETING.
President Bradley reconvened the meeting at 8:04pm.
8. TAKE ANY ACTION, IF NEEDED, FROM EXECUTIVE SESSION
DISCUSSION: No action taken.
9. ADJOURNMENT
President Bradley adjourned the meeting at 8:05 pm.
APPROVED by the Texas Student Housing Corporation — Denton Project Board of Directors on
2020.
Scott Bradley, President
ATTEST:
Katie Kolkmeier, Secretary
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