MINUTES OF THE MEETING OF THE MCALLEN FACILITY CORPORATION REGULAR BOARD MEETING

Thursday, September 17, 2020

CALL TO ORDER AND ROLL CALL - The regular meeting of the Board of Commissioners of the McAllen Housing Authority was held Thursday, September 17, 2020, via video conference. Chairman Ronnie Cruz called the meeting to order at 4:23 p.m. Present and attendance for roll call were:

Present:

• Chairman, Ronnie Cruz
• Vice-Chairwoman, Elva M. Cerda
• Commissioner, Eliseo "Tito" Salinas

Absent:

• Commissioner, Rodrigo "Rudy" Elizondo
• Resident Commissioner

Staff:

• Executive Director, Rodolfo "Rudy" Ramirez
• Deputy Director, Daniel Delgado
• Finance Director, Joe Garcia
• Finance Assistant, Jamie Ayala

1. Call Meeting to Order -4:23 p.m.
   
   
2. Action Items:
   1. Discussion and Possible Action to Approve Meeting Minutes of Regular Board Meeting for August 2020. Chairman. Ronnie Cruz entertained a motion to approve Meeting Minutes. Vice-Chairwoman Elva M. Cerda made a motion to approve: seconded by Commissioner Eliseo "Tito" Salinas. All approved: motion carried.
      
      
   2. Discussion and Possible Action to Approve Resolution 2020-01; update on authorized signatory for Jackson Apartments GP, LLC
      
      
   3. Discussion and Possible Action to Approve Resolution 2020-02; update on authorized signatory for Las Palomas Village GP, LLC.
      
      
   4. Discussion of Possible Action to Approve Resolution 2020-03; update on authorized signatory for Las Villas GP, LLC. Non-Action Items:
      
      Deputy Director, Daniel Delgado requested approval of authority as a signer for Executive Director, Rodolfo "Rudy" Ramirez for Jackson Apartments GP, LLC, Las Palomas GP, LLC, and Las Villas GP, LLC.
      Chairman, Ronnie Cruz entertained a single motion to approve 11e the following Resolutions: Resolution 2020 -01, Resolution 2020-02, and Resolution 2020-03. Commissioner, Eliseo "Tito" Salinas made a motion to approve; seconded by Vice-Chairwoman Elva M. Cerda. All approved: motion carried.
      
      
3. Finance Report as of 06/30/2020

• Total assets of $10.7 million compared to lasts years $10.6 million, improvement of $353,000 most of the increase was in cash. Increase in assets due to construction and developer fees partially for Las Palomas and Jackson Apts. Increase in liabilities were negligible. Reduction in long-term debt with Frost bank. Income statement of $1.4 million compared to $1.4 million, negligible, increase of $48,000 year over year. Increase in expenses $120,000 due to reallocation. Overall operating income $6,000 compared to last years $47,000, net change of $41,000.

Adjournment Chairman Ronnie Cruz called for a motion to adjourn the meeting. The motion was made by Vice-Chairwoman Elva M. Cerda; second by Commissioner Eliseo "Tito" Salinas. All approved; motioned carried. Meeting adjourned at 4:29p.m.

Rodolfo "Rudy" Ramirez, Executive Director

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