Memorial City Redevelopment Authority Board of Directors met May 2

Memorial City Redevelopment Authority Board of Directors met May 2.

Here are the minutes provided by the board:

MINUTES OF THE JOINT MEETING OF THE TIRZ 17 REDEVELOPMENT AUTHORITY/MEMORIAL CITY REDEVELOPMENT AUTHORITY and TAX REINVESTMENT ZONE NUMBER SEVENTEEN, CITY OF HOUSTON, TEXAS BOARD OF DIRECTORS

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 on Tuesday, May 2, 2023, at 10:00 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, with the exception of Director Givens, thus constituting a quorum. Also present were Scott Bean, and Linda Clayton, Hawes Hill & Associates, LLP; Sanjay Bapat, Allen Boone Humphries Robinson, LLP; and Jennifer Landreville, ETI Bookkeeping Services. Others attending the meeting were Andrew Busker, COH - Economic Development Dept.; Council Member Mary Nan Huffman and Rachel Maxcy, District G; Ben Gillis, Memorial Management District; Laurie Rosenbaum, City of Bunker Hill; Muhammad Ali, Gauge Engineering; Bruce Nichols; and Lois Myers. Vice-Chair Rickel called the meeting to order at 10:00 a.m.

RECEIVE PUBLIC COMMENTS.

Public comments were received from Lois Myers.

APPROVE MINUTES OF THE FEBRUARY 28, 2023, REGULAR MEETING.

Upon a motion made by Director Hodges, and seconded by Director Moody, the Board voted unanimously to approve the Minutes of the February 28, 2023, Board meeting, as presented.

ACCEPT ANNUAL DISCLOSURE STATEMENTS FROM BOOKKEEPER AND INVESTMENT OFFICER.

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. She reported 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 Hodges, and seconded by Director Freels, the Board voted unanimously to (a) accept the Annual Disclosure Statements from the Investment Officer and Bookkeeper; (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.

CIP COMMITTEE UPDATE AND RECOMMENDATIONS:

   a. Consider thank you letter to H-GAC regarding Memorial Drive Phase I project for their support funding.

Upon a motion made by Director Durham, and seconded by Director Moody, the Board voted unanimously to approve the letter to H-GAC thanking them for its support funding for the Memorial Drive Phase I project, with updated photographs of the completed project.

   b. Receive update and recommendations from Gauge Engineering LLC. Mr. Ali reported the substantial walk-thru for the Memorial Drive Phase I project has been conducted and a punch list of items created to complete the project. A copy of the Memorial Drive Phase I Progress Report is included in the Board materials.

     i. Consider Gauge Engineering Task Order for on-call engineering services. Mr. Ali reviewed the Task Order for on-call engineering services in the amount of $25,000.00. Director Rickel reported the CIP Committee has reviewed the task order and is recommending for approval.

     ii. Consider Gauge Engineering Task Order for coordination efforts related to Detention Basin A.

Mr. Ali reviewed the Task Order to provide support services to the City and HR Green regarding Detention Basin A modeling and cost benefit analysis in the amount of $50,580.00. Director Rickel reported the CIP Committee has reviewed the task order and is recommending for approval.

Upon a motion made by Director Rickel, and seconded by Director Iversen, the Board voted unanimously to (i) approve Gauge Engineering Task Order for on-call engineering services in the amount of $25,000.00, as presented; and (ii) approve Gauge Engineering Task Order for support services to the City and HR Green relating to Detention Basin A modeling and cost benefit analysis in the amount of $50.580.00, as presented.

https://houstontirz17.org/files/9316/8727/8152/RZ17_MCRA_apvd_min_05.02.2023.pdf