Memorial City Redevelopment Authority Board of Directors met March 29

Memorial City Redevelopment Authority Board of Directors met March 29.

Here are the minutes provided by the board:

ESTABLISH QUORUM AND CALL MEETING TO ORDER.

The Board of Directors of the TIRZ 17 Redevelopment Authority/Memorial City Redevelopment Authority and Tax Reinvestment Zone Number Seventeen, City of Houston, Texas, held a regular joint meeting at Hawes Hill & Associates LLP, 9600 Long Point Road, Spring Branch District Conference Room, Suite 250, Houston, Texas 77055, open to the public at 8:00 a.m., and open to the public via videoconference, and the roll was called of the duly appointed members of the Board, to-wit:

Position 1 -Andy Iversen

Position 2 - John Rickel, Vice-Chair

Position 3 - David P. Durham, Secretary

Position 4 - Ann T. Givens, Chair

Position 5 – Zachary R. Hodges, Asst. Secretary

Position 6 - Brad Freels

Position 7 - Dan Moody III

and all of the above were present, thus constituting a quorum. A quorum of the Board was present in person and Chairman Givens attended the meeting via videoconference. Also present were Scott Bean, and Linda Clayton, Hawes Hill & Associates, LLP; Sanjay Bapat, Allen Boone Humphries Robinson, LLP; and Pat Hall, ETI Bookkeeping Services. Others attending the meeting were Council Member Mary Nan Huffman, District G; Liz Miranda, District A; Ben Gillis, Memorial Management District; Karen Glynn and Laurie Rosenbaum, both of City of Bunker Hill; Muhammad Ali, Gauge Engineering; Jim Webb, The Goodman Corporation; Bruce Nichols; Margaret Dunlap, METRO; Lois Myers; and Beverly Chambers. Chair Givens called the meeting to order at 8:00 a.m.

RECEIVE PUBLIC COMMENTS.

Public comments were received from Lois Myers.

APPROVE MINUTES OF THE FEBRUARY 28, 2022, REGULAR MEETING.

Upon a motion made by Director Durham, and seconded by Director Freels, the Board voted unanimously to approve the Minutes of the February 28, 2022, Board meeting, as presented.

RECEIVE FINANCIAL AND BOOKKEEPER'S REPORT, INCLUDING APPROVAL OF PAYMENT OF INVOICES, REVIEW OF INVESTMENTS, AND PROJECT CASH FLOW REPORTS.

Ms. Hall presented the Bookkeeper's Report and went over invoices, included in the Board materials. Upon a motion made by Director Moody, and seconded by Director Iversen, the Board voted unanimously to accept the Bookkeeper's Report and approved payment of invoices, as presented.

ACCEPT ANNUAL DISCLOSURE STATEMENTS FROM INVESTMENT OFFICER AND BOOKKEEPER.

Ms. Clayton reviewed the annual disclosure statements and stated disclosures are required to be made annually by the investment officer and bookkeeper disclosing any relationships with entities or individuals engaged in an investment transaction with the Authority and the investment officer and bookkeeper are reporting none.

CONDUCT ANNUAL REVIEW OF INVESTMENT POLICY; ADOPT RESOLUTION REGARDING ANNUAL REVIEW OF INVESTMENT POLICY.

Ms. Clayton reported the Authority is required to annually review its Investment Policy and amend the Policy when required by any legislative changes to the investment laws. She reported no legislative laws have been enacted affecting the current Policy and the Authority's attorney has reviewed the current Investment Policy and is recommending no changes be made.

ADOPT RESOLUTION ESTABLISHING THE AUTHORIZED DEPOSITORY INSTITUTIONS AND ADOPTING LIST OF QUALIFIED BROKER/DEALERS WITH WHOM THE AUTHORITY MAY ENGAGE IN INVESTMENT TRANSACTIONS.

Ms. Clayton reviewed the Resolution and amended Broker/Dealer List with whom the Authority may engage in investment transactions. She reported the list was received from the investment officer and can be amended by the Board at any time by Resolution.

Upon a motion made by Director Rickel, and seconded by Director Hodges, the Board voted unanimously to (a) accept the Annual Disclosure Statements from the Investment Officer and Bookkeeper, as presented; (b) adopt the Resolution Regarding Annual Review of Investment Policy; and (c) adopt the Resolution Establishing the Authorized Depository Institutions and Adopting List of Qualified Broker/Dealers with Whom the Authority May Engage in Investment Transactions.

ANNUAL REPORT REGARDING POST-ISSUANCE COMPLIANCE POLICY.

Mr. Bapat reported he has reviewed the Post-Issuance Compliance Policy pertaining to the Authority's bonds and has determined the current policy is in compliance and no changes need to be made. No action from the Board was required.

CIP COMMITTEE:

a. Project update from Gauge Engineering LLC.

Mr. Ali provided an update on the Memorial Drive project, a copy of the Status Report is included in the Board materials. He reported the project is 78% complete with an anticipated completion by the end of the year. He reported TxDOT is currently in the process of closing out the Gessner project. He reported Gauge is updating the draft schematic for the Memorial Drive Phase II project. He reported traffic analysis has begun for the Memorial Drive Phase II. He reported the survey has been completed for the W-140 Basin Deepening and Gauge has begun the detailed design. No action from the Board was required.

b. Project update and recommendations from The Goodman Corporation.

a. Consider letter to U.S. Representative Dan Crenshaw;

Upon a motion made by Director Rickel, and seconded by Director Freels, the Board voted unanimously to approve the letter to U.S. Representative Dan Crenshaw regarding the W140 Detention Basin Improvements project, as presented.

b. Consider Task Order for W-140 Detention Basin Improvements Project Grant Compliance and Management; and

Mr. Webb reviewed the task order to provide grant compliance and management services for the W 140 Detention Basin Improvements project in the amount of $156,381. Upon a motion made by Director Moody, and seconded by Director Rickel, the Board voted unanimously to approve The Goodman Corporation Task Order for W140 Detention Basin Improvements Grant Compliance and Management services in the amount of $156,381.00, as presented.

c. Consider Task Order for Ongoing Pursuit of Funding.

Mr. Webb reviewed the task order to provide ongoing pursuit of funding services in the amount of $126,500. He reported this will replenish the previous task order approved for ongoing services. Upon a motion made by Director Freels, and seconded by Director Rickel, the Board voted unanimously to approve The Goodman Corporation Task Order for Ongoing Pursuit of Funding services in the amount of $126,500.00, as presented.

c. Project update from SWA.

SWA Project Status Report is included in the Board materials for review.

CONVENE IN EXECUTIVE SESSION PURSUANT TO SECTION 551.072, TEXAS GOVERNMENT CODE, TO DELIBERATE THE PURCHASE, EXCHANGE, LEASE OR VALUE OF REAL PROPERTY; AND PURSUANT TO SECTION 551.087, TEXAS GOVERNMENT CODE, TO DISCUSS OR DELIBERATE REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS.

RECONVENE IN OPEN SESSION AND AUTHORIZE APPROPRIATE ACTIONS WITH REGARD TO THE PURCHASE, EXCHANGE, LEASE OR VALUE OF REAL PROPERTY; AND WITH REGARD TO ECONOMIC DEVELOPMENT NEGOTIATIONS.

An Executive Session was not called.

ADJOURN.

There being no further business to come before the Board, Chair Givens adjourned the meeting at 8:26 a.m.

https://houstontirz17.org/files/2116/5098/6637/RZ17_MCRA_apvd_min_03.29.2022.pdf