HomeMy WebLinkAbout01-29-20 TSHA MinTF, x- I*
STUDENT HOUSING
MINUTES OF THE MEETING OF
THE BOARD OF DIRECTORS OF THE
TEXAS STUDENT HOUSING AUTHORITY
(AN INSTRUMENTALITY OF THE TOWN OF WESTLAKE)
January 29, 2020
99 Trophy Club Drive
Trophy Club, TX 76262
PRESENT: Board mernbers Scott Bradley, James Krekow, Paula Petersen, Randall
Quick, Katie Kolkmeier, 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 6:30 pm.
2. REVIEW AND CONSIDER APPROVAL OF MINUTES FOR THE MEETING HELD
OCTOBER 30, 2019.
DISCUSSION: Director Petersen made a motion to approve the minutes of the
October 30, 2019 meeting. Director Krekow seconded the motion. The
motion passed unanimously with Director Quick abstaining.
3. REVIEW AND CONSIDER APPROVAL OF THE AUDIT FOR TEXAS STUDENT
HOUSING AUTHORITY FOR 2019.
DISCUSSION: John DeBurro, Audit Partner from Weaver, presented the Board with
audited financials from 2019 for TSHA. Director Quick made a motion to
approve the audited financials. Director Petersen seconded the motion.
The motion carried unanimously.
4. REVIEW AND CONSIDER APPROVAL OF THE AUDIT FOR THE CAMBRIDGE FOR
2019.
DISCUSSION: John DeBurro, Audit Partner from Weaver, presented the Board with
audited financials from 2019 for The Cambridge. 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 6:50pm. The Board came back in
session at 6:53pm.
Page 1 of 3
S. DISCUSS AND CONSIDER TAKING ACTION TO HIRE A CONSULTANT FOR
RESTRUCTURING THE DEBT, MARKETING AND MANAGEMENT OF THE
CAMBRIDGE.
DISCUSSION: Executive Director Harrow provided an update on the hiring of a
consultant for restructuring the debt, marketing and management of
The Cambridge. President Scott Bradley made a motion to authorize
management to agree with Invesco on the selection of a consultant for
the restructuring the debt, marketing and management of The
Cambridge. After further discussion, Director Quick seconded the
motion. The motion carried unanimously.
6. EXECUTIVE SESSION
The TSHA Board convened into executive session at 7:12 pm to conduct a closed session
pursuant to Texas Government Code, Annotated, Chapter 551,
Subchapter D, Section 551.071 for the following: Consultation with an
attorney whereby the Board seeks advice about Bank of New York
litigation.
The TSHA Board remained in executive session to conduct a closed session pursuant to
Texas Government Code, Annotated, Chapter 551, Subchapter D,
Section 551.072 for the following: Consultation with an attorney
whereby the Board seeks advice about hiring a consultant for
restructuring the debt, marketing and management of The Cambridge.
7. RECONVENE MEETING.
President Bradley reconvened the meeting at 7:34 pm.
8. TAKE ANY ACTION, IF NEEDED, FROM EXECUTIVE SESSION
DISCUSSION: No action taken.
9. ADJOURNMENT
President Bradley adjourned the meeting at 7:35 pm.
APPROVED by the Texas Student Housing Authority Board of Directors on
12020.
ATTEST:
Scott Bradley, President
Page 2 of 3
k W
Katie Kolkmeier, Secretary
Page 3 of 3