PRESENT:

The meeting was called to order by President Ronnie Singleton. The minutes from the 1999 Board of Directors summer meeting were approved as distributed.

Kirk King submitted the treasurer’s report. The balance as of August 31, 1999, is $46,686.26. Expenses for the Annual Business Meeting had not been paid as of this date. Actual balance is closer to $30,000.

Dr. Etter reported on the LERE program. He stated there are 25 students currently in the program. Eight students will graduate in December, six graduate in May, and ten in December 2000. He anticipates 8-10 new students in the spring. Enron has received approval for two interns next summer.

Recruiting for the LERE program continues with the distribution of 2500 brochures to junior level students in Finance classes. In addition, a LERE web site is being developed.

The LERE advisory committee has been formed and had its first meeting in late September. The committee will focus on curriculum matters.

Dr. Etter stated he has been appointed interim vice-chair of the Masters Sub-committee of the Appraisal Institute. He reported that the Appraisal Institute awarded ten of its twenty-one scholarships to LERE students in 1999.

In the Real Estate Center update, Dr. Richards stated the Center is producing videos on Paragraph 7(D)1 and cross-cultural selling. He said the focus is continuing to develop in the commercial real estate area, but the Center is still very much involved in the residential area.

Carla Brooks reported she is still considering the following sites for the 2000 business meeting: Lago Vista near Marble Falls, Tapatio Springs, and the YO Holiday Inn in Kerrville. It was suggested that Del Lago still be considered. A decision should be made before the end of the year.

Mr. Singleton announced the following new business:

1. The by-laws have been given some review, but changes still need to be made. Dr. Richards suggested the board confirm STAMREP’s objectives before proceeding.
2. To increase membership in the organization, it was suggested STAMREP contact the Association of Former Students to conduct a search of Aggies involved in real estate. It was also suggested that we use the Former LERE Student directory to ask former students for names of Aggies involved in real estate that may not have graduated from the program. As an incentive to get these names, Craig Zgabay suggested STAMREP offer the accommodations at the next Annual Business Meeting in a drawing to a member who brought in new members. Finally, it was suggested we contact the Aggie Clubs and ask them to mention STAMREP in their newsletters and also contact the Texas Aggie to provide space requesting information from former students.
3. Committees established in the by-laws need to be appointed.
4. As for relocating some of the funds in the checking account, it was suggested STAMREP contact Aggieland Credit Union.
5. Dr. Etter discussed the mentoring program and the Fall Awards Banquet and suggested we somewhat combine the two events since the attendance at the banquet has fallen off in the past years. He suggested STAMREP sponsor a Real Estate Business Round Table Day similar to that done by the Graduate Business Career Services office. This would include not only LERE students, but also other Masters students interested in real estate. A subcommittee of students would be used to help establish this event.

The meeting was adjourned at 4:15 p.m.

Respectfully submitted,

Terri Callery

Secretary