International Management District Board of Directors met July 25

International Management District Board of Directors met July 25.

Here are the minutes provided by the board:

The Board of Directors of the International Management District held a regular meeting on July 25, 2024, at 12:30 p.m., at International Management District Office, 11360 Bellaire, Suite 960, Houston, Texas 77072, inside the boundaries of the District, open to the public, and the roll was called of the duly appointed members of the Board, to-wit:

Position 1 - Jay Shani

Position 2 - Fred Bhandara, Vice-Chairman

Position 3 - Karen Loper, Secretary

Position 4 - Sally A. Reynolds

Position 5 - Stephen Le

Position 6 - Dr. Nancy Mai

Position 7 - Owen C. Wang

Position 8 - Wea Lee, Chairman

Position 9 - vacant

And all of the above were present with the exceptions of Directors Le, thus constituting a quorum. Consultants present were Natali Hurtado, Gillian Thomas, Annie Trinh, Victor Beserra, all with Hawes Hill & Associates LLP; Others attending the meeting were Larry Galvan and Cindy Craig (via Zoom) of Governmental Financial Reporting; Clark Lord, Bracewell LLP; Steven Le, Quansheng Zhu, Vivianna Wang, Kevin Hsieh, Linda Young, Tabitha Israel, David Israel, Kristi Miller, The Goodman Corporation, Christi Chin Mel, Mike Prause, HPD Mike Laster, HCAO, and Jenny Con. Also attending Zoom was Tammy Rodriguez. Chairman Lee called the meeting to order at 12:31 pm.

RECEIVE PUBLIC COMMENTS.

No public comments were received.

APPROVE MINUTES OF MEETING HELD JUNE 27, 2024.

Upon a motion made by Director Loper, and seconded by Director Shani, the Board voted unanimously to approve the Minutes of the June 27, 2024, Board meeting, as presented.

RECEIVE ASSESSMENT COLLECTION REPORT.

Mrs. Hurtado presented the Assessment Collection Report, included in the Board materials. She noted that the District is currently 97% collected with 170 unsettled accounts. She answered questions from the Board. No action from the Board was required.

CONSIDER RESOLUTION APPOINTING INVESTMENT OFFICER AND BOOKKEEPER. Mrs. Hurtado presented the Resolution Appointing Investment Officers; a copy is included in the board materials. She noted the resolution list both Randy Carr and Cynthia Craig as the new officers.

ACCEPT ANNUAL DISCLOSURE STATEMENTS FROM INVESTMENT OFFICER AND BOOKKEEPER. Mrs. Hurtado reviewed the annual disclosure statements from the investment officer and bookkeeper. She stated the Investment Officer and Bookkeeper are required to annually disclose any relationships with entities or individuals engaged in an investment transaction with the District and the investment officer and bookkeeper are reporting none.

CONDUCT ANNUAL REVIEW OF INVESTMENT POLICY AND ADOPT RESOLUTION REGARDING ANNUAL REVIEW OF INVESTMENT POLICY AND AMENDING QUALIFIED LIST OF BROKER/DEALERS.

Mrs. Hurtado reported the District is required to annually review its Investment Policy and amend the Policy when required by any legislative changes to the investment laws. She reported the District's attorney has reviewed the Investment Policy and no legislative laws have been enacted affecting the current Policy and recommends no changes be made. She reviewed Exhibit "B" the Amended Qualified Broker/Dealers with whom the District may engage in investment transactions. She reported the list was reviewed and updated by the Investment Officer and Bookkeeper and may be amended at any time by the Board by a resolution.

Upon a motion made by Director Loper, and seconded by Director Reynolds, the Board voted unanimously to (a) Consider Resolution Appointing Investment Officers. (b) Accept Annual Disclosure Statements from Investment Officer and Bookkeeper. (c) Conduct annual review of Investment Policy and Adopt Resolution Regarding Annual Review of Investment Policy and Amending Qualified List of Broker/Dealers, as presented.

RECEIVE BOOKKEEPER'S REPORT AND APPROVE PAYMENT OF INVOICES.

Mr. Galvan presented the Bookkeeper's Report and went over invoices included in the Board material. He answered questions from the Board. Upon a motion made by Director Loper, and seconded by Director Bhandara, the Board voted unanimously to accept the Bookkeeper's Report and approved payment of invoices, as presented.

CONSIDER LETTER TO TXDOT REQUESTING AN ADVANCE FUNDING AGREEMENT BETWEEN CITY AND TXDOT REGARDING INTERSECTION SAFETY IMPROVEMENTS,

Upon a motion made by Director Loper, and seconded by Director Bhandara, the Board voted unanimously to approve the letter to TxDot requesting an Advance Funding Agreement between City and TxDOT regarding intersection safety improvements.

RECEIVE UPDATE FROM PUBLIC SAFETY COMMITTEE

Mr. Beserra reported the committee met on July 18; a copy of the Committee Minutes is included in the Board materials. The committee made the following recommendations:

a. Consider the Interlocal Agreement between IMD and Harris County Attorney's Office. Upon a motion made by Director Bhandara, and seconded by Director Loper, the Board voted unanimously to approve the Interlocal Agreement between IMD and Harris County Attorney's Office.

RECEIVE AND CONSIDER SUPPORT FUNDING SUBMITTED BY JOYKOM MEDIA. This item was tabled and will be discussed at committee before the next Board meeting.

RECEIVE AND CONSIDER SUPPORT FUNDING SUBMITTED BY HOUSTON DOUBLE TEN CELEBRATION COMMITTEE.

This item was tabled and will be discussed at committee before the next Board meeting.

RECEIVE AND CONSIDER SPONSORSHIP OF THE ABC POP UP EVENT.

This item was tabled and will be discussed at committee before the next Board meeting.

RECEIVE EXECUTIVE DIRECTOR'S REPORT IN SUPPORT OF INITIATIVES AND IMPLEMENTATION OF THE SERVICE PLAN.

The Executive Director's Report is included in the Board materials for review. No action from the Board was required.

ADJOURN.

There being no further business to come before the Board, Chairman Lee adjourned the meeting at 1:17 p.m.

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