PRESENT:

Victor Grant, President

Ronnie Singleton, Vice President

Wayne Etter, Secretary

Terri Callery, Secretary

Kirk King, Treasurer

Wendell Wood, Region 2 Director

Cullum Jefferies, Region 3 Director

Tom Goen, Region 4 Director

John Schmedemann, Region 5 Director

The meeting was called to order by President Victor Grant. The minutes from the Summer 1998 Board of Directors meeting were read by Terri Callery and approved as read.

The treasurer’s report was submitted by Kirk King. The balance as of August 31, 1998, is $37,838.98. This does not include all the expenses for the Annual Business Meeting as we still need to pay Tapatio Springs.

Dr. Etter reported on the LERE program. He stated there are 26 students this fall. He stated the internships went well. There will be seven graduating in December and two of them have accepted positions. We are in need of speakers for the fall mentoring program.

Reporting for Dr. Richards, Dr. Etter stated all is running smoothly at the Real Estate Center.

Mr. Grant reported current membership is approximately 185 with 82 1997 members not renewed to date. He requested board members contact those non-renewed members and remind them to renew for ‘98-99.

Dr. Goen, speaking for the Life Membership Committee, opened the floor for nominations for a Life Membership Award. John Schmedemann nominated Dr. Richard Floyd. Seconded by Wendell Wood. Motion passed unanimously. Dr. Floyd will be presented with a certificate at the Fall Awards Banquet.

Dr. Goen reported the web site is still in the process of being refined. He stated we will add the scholarships received by LERE students and their activities to the current events page. In addition, putting the Tierra Grande article about the LERE program and the Foundation list including STAMREP’s name is being reviewed for addition to the web site. Finally, Dr. Etter stated a new LERE brochure will be going online in the near future and STAMREP should add a link to their web site to that LERE brochure.

Mr. Singleton announced the date for the 1999 Annual Business Meeting in Tapatio Springs in Boerne, Texas, will be July 29 – August 1. The room rate will be $89/night and golf will be $55. He requested the board start considering speakers for the Annual Business Meeting. In addition, suggestions to keep members at the afternoon portion of the meeting were requested.

Mr. Grant announced the following new business:

1. A field trip will be scheduled in mid-February for the LERE students. Dr. Etter suggested Houston as the destination and companies to possibly include REITs, lending companies, and accounting firms.
2. An income-generating seminar of some sort needs to be developed. Mr. Grant requested suggestions. Suggestions included:

1. a seminar, possibly economic in nature, that travels to various cities within the state at a low cost with Continuing Education Credits as an incentive to attend.
2. a legal seminar of some sort, although no specific area of the law was suggested.
3. a half-day seminar, possibly the day before the Annual Business Meeting, to draw from the local community and STAMREP members.

It was suggested any Continuing Education Credits be established well in advance as an incentive to draw people to attend. Subjects need to be topical or regarding specific areas (ex. – valuation, cost approach, etc.) In addition, Dr. Etter suggested the STAMREP membership be considered as speakers for either the seminar or the Annual Business Meeting. It was noted the Real Estate Center’s support of a seminar would draw more attendees.

3. It was suggested STAMREP raise the cost of dues although a specific amount was not specified. Mr. Singleton suggested we obtain a breakdown of who pays their own dues and whose company pays their dues taking into account the other dues and membership fees paid throughout the year for licenses, etc.
4. Mr. Singleton recommended the STAMREP Membership Directory be maintained only on the web site and not be printed. It was suggested we wait for a few years, but this is a viable option.

The meeting was adjourned at 4:50 p.m.

Respectfully submitted,

Terri Callery

Secretary