HomeMy WebLinkAboutResolution 4640-06-2016 A Resolution
NO. 4640-06-2016
APPROVING FOR PURPOSES OF SECTION 147(f) OF THE INTERNAL REVENUE CODE
OF 1986, THE MULTIFAMILY HOUSING REVENUE BONDS FOR THE STALLION POINTE
APARTMENTS TO BE ISSUED BY TRINITY RIVER PUBLIC FACILITY CORPORATION
WHEREAS, Trinity River Public Facility Corporation ("TRPFC") is a public non-profit
corporation created, in part, to assist the Fort Worth Housing Authority in financing the costs of the
development of affordable mixed income multifamily housing units in the State of Texas; and
WHEREAS, TRPFC wishes to issue tax exempt multifamily housing revenue bonds ("Bonds")
in order to finance the development of affordable mixed income multifamily rental housing to be named
the Stallion Pointe Apartments, a new approximately 264-unit complex to be located at 9075 Race Street
in the City of Fort Worth, Texas; and
WHEREAS, pursuant to the provisions of Section 147(f) of the Internal Revenue Code of 1986,
as amended, the City Council of the City of Fort Worth, after the required public hearing following
reasonable notice (the "TEFRA Hearing"), must approve issuance of bonds by the issuer in order for the
bonds to qualify as tax-exempt obligations under the Code; and
WHEREAS, Section 147(f)(2)(B) of the Internal Revenue Code deems such a bond issuance to
be approved by a governmental unit if the elected representative of the governmental unit approves the
bond issue following a public hearing concerning the issuance and the nature of the multifamily housing
facility in question; and
WHEREAS, the TEFRA Hearing for the issuance of the Bonds was conducted at 1201 East 13"'
Street, Fort Worth, Texas, 76102 on March 3, 2016 by a designated hearing officer of the Issuer.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH, TEXAS:
1. The City Council, solely for the purposes of Section 147(f) of the Internal Revenue Code, as
the elected legislative body having jurisdiction over an area in which the facilities to be
financed are located, hereby approves the proposed issuance of the Bonds to finance the
development of affordable mixed income multifamily rental housing to be named the Stallion
Pointe Apartments in an amount not to exceed $27,000,000 and authorizes Mayor Betsy
Price to execute an Approval Certificate evidencing such approval.
2. The foregoing approval is given in accordance with the provisions of Section 147(f) of the
Internal Revenue Code and for no other purposes and is not to be construed as an undertaking
bRT WORT
by the City of Fort Worth. The Bonds shall not constitute a liability, indebtedness, or an
obligation of the City of Fort Worth nor shall any of the assets of the City of Fort Worth be
pledged to the payment of the Bonds.
3. This resolution shall take effect immediately from and after its passage in accordance with
the provisions of the Charter of the City of Fort Worth and it is accordingly so resolved.
PASSED AND APPROVED, this June 21, 2016.
1 V -----ii-6e, Mayo
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APPROVED AS TO FORM AND LEGALITY
By' --------- — -- ----�----
Sarah J. F lenwider, City Attorney
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ATTEST Sid
earyVKays r t� Se etary �a�t2d�►
S
ORT WORT
CERTIFICATE OF MAYOR OF CITY OF FORT WORTH,TEXAS
REGARDING ISSUANCE OF
TRINITY RIVER PUBLIC FACILITY CORPORATION
MULTIFAMILY HOUSING REVENUE BONDS
(STALLION POINTE APARTMENTS)
SERIES 2016
WHEREAS, a public hearing was held on March 3, 2016 in the City of Fort Worth, Texas on
behalf of the Trinity River Public Facility Corporation (the "Issuer") with respect to the proposed
issuance of one or more series of bonds (the"Bonds")to be issued by the Issuer, at one or more times, in
an aggregate principal amount not to exceed $27,000,000 (the "Bonds"), with proceeds to be loaned to
LDG Stallion Pointe, LP or an affiliate thereof (the "Borrower") to finance a portion of the costs of
construction of a multifamily housing residential rental development to be located at 9075 Race Street,
Fort Worth, Texas 76140 (the "Project"), and no comments regarding the Project were made by the
general public at such public hearing; and
WHEREAS, it is necessary for the applicable elected representative of the City of Fort Worth,
Texas,to approve the Bonds to satisfy the requirements of section 147(f) of the Internal Revenue Code of
1986, as amended (the"Code"); and
WHEREAS, on June 21, 2016, the City Council of the City of Fort Worth, Texas adopted a
resolution approving the Bonds to satisfy the requirements of section 147(f) of the Internal Revenue Code
of 1986, as amended (the"Code").
NOW, THEREFORE, the undersigned Mayor of the City of Fort Worth, Texas, hereby attests to
the City Council's approval of the issuance of the Trinity River Public Facility Corporation Multifamily
Housing Revenue Bonds (Stallion Pointe Apartment) Series 2016 in one or more series, at one or more
times, in an aggregate principal amount not to exceed $27,000,000, and such approval shall be solely for
the purposes of section 147(f) of the Code, and the City of Fort Worth, Texas shall have no liabilities for
the payment of the Bonds, nor shall any of its assets be pledged to the payment of the Bonds.
In Witness Whereof,I have set my hand this June 21, 2016.
C' Fort orth,Texas
y:
Ma
[Signature Page—Mayor's Certificate]
EXHIBIT A TO CERTIFICATE OF MAYOR
MINUTES OF PUBLIC HEARING
Re: Trinity River Public Facility Corporation Multifamily Housing Revenue Bonds
(Stallion Pointe Apartments) Series 2016
The undersigned, on behalf of Trinity River Public Facility Corporation, was present
when the Public Hearing was called to order at 5:00 p.m. on March 3, 2016, with respect to the
above-referenced bonds (the "Bonds").
The public hearing, required under Section 147(f) of the Internal Revenue Code of 1986,
was opened for purposes of discussing the Bonds to be issued for LDG Stallion Pointe, LP (the
"Borrower") and the project to be financed with the proceeds of the Bonds, to-wit: to acquire,
develop, construct, equip, maintain and furnish a multifamily residential rental facility and that
such acquisition, construction, development and installation of the Project shall include but not
be limited to the acquisition of any land necessary for the Project and the acquisition of any
needed new or existing facilities, machinery, tools, or equipment for the Project.
The required notice of the public hearing for the Project was published in the Star-
Telegram, Inc., being a newspaper of general circulation in the specific location of the Project
and in the jurisdiction in which the public hearing was held, as set forth in the affidavit of
publication attached hereto as Attachment A.
No comments were made by the general public at the public hearing with respect to this
Project.
After sufficient time was given for all present to make their comments with respect to the
Bonds and the Project, the Public Hearing was declared closed.
Dated: June 15, 2016. f
1 '
DEBORAH RO -IR'I'S
STATE OF TEXAS
COUNTY OF TRAVIS
This instrument was acknowledged before me on June 15, 2016 by Deborah Roberts.
Notary Public
My commission expires on
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ATTACHMENT A
STATE OF TEXAS
COUNTY OF TARRANT
Befor -1�e,a Notaa y PubIic in and for said County and State,this day
personally appeared 91 Advertising Representative
for the Star-Telegram,published by the Star Telegra i,Inc. at Fort Worth,in Tarrant County,Texas and
distributed in other surrounding Counties;and who,after being duly sworni,did dispose and say that the
following clipping of an advertisement was published in the above named paper on the following dates:
Signed
Subscribed and sworn to before me, this the 1 <3 day of �t��)(\.('Q 20 i
Notary Public .t-V 11 �(?CV �I l 1
Tarrant County,Texas
LESLIE BUCKLEY
MYCOMMISSIONEXPIRE8
SEPTEMBER 24,24, 2017
NOTARY In, 19A AA26: '
BB I s i STAR-TELEGRAM I I THURSDAY FEBRUARY 19 2016
Bids & proposals Legal Notices � Legal,r g hlQtices
NOTICE TO OFFERORS MERCIAL DISTRICT {c9 110INNED drainage and similar infrastructure
Proposals far the Cheek SUcax DEVEt OPMENT USES Y ADDING involved In the construction of such
qRi 5 It r !m pn�y Monts In f5) NON TRADITIONAL SMOKING arks and groan s aces;{b},water
4�afn: ai�CaXla �,agar iszr•CSY Isis`r,GUrn., nu. p ,
vision at'{972) 237.025fi, P�aasa' ire#�v Hsu�sh� rtts'z�rL�pC+pzGYhi1
if you Jnten to submi€a Proposal described below: A mates and
rarlucst you inferno the Projeri Jac Ijs+the parting case number and hounds dq$Criptlon is available for
Mona erarAr<hl#etUerlginearwho Jotatlon when caliing, ipspectton at the District office at
COO # err inform t+h�e Intorosti d NOTICC OF PUBLIC HEARING t as location described above.
subcan rectors. r TRINITY RIVER PUBLIC FACILITY All interested parsons are invited to
M ay m k ecopietof and suppliers CORPORATION attend such Public hearing to
i»ay make copies of rho Instructions SI G express their views with respect
to Offerors, General Conditions, MULTIFAMILY JtOU5iN6 REVENUE to rho establishment of the PJD
though Drawings, and Specification INTE:AS and tine PID Improvements to be
through their Printer, The can= (STALLION POlN7E AI ARTMi»IvTS)
P Notice Is hereby given of a public ntado tharain, Questions or to-
ore not haarirrg to ba hold on beltaif of masts far radditlaanal Information
availabta at the City but may be Tr1niF River Public FactiJty Cor• may be directedd to Clay"Crawford,
viewed and printed and na by parativan(rho"Issuer"),on 7nurs- 3100 McKinnon,Suite 1108,Pallas'
"Inn, on #p hortwiilpthgov day Texas 75201. {phenol 2111 981.
March 3 201.61 at 5:00 p.m,
pant e s User Name "Co orthgav 9090),
W,h the Usnr Name "Cowtawn" at 1201 Eas 131, Street, Fari Persons who Intend to Worth Texas 76102 SviFit-respect appear at the
Password "Cayrtawn200dn, ook � hear?" and axpross their views are
elldt an "P D Protects" and tank to an issue of inultlam[1y housing Invitedg to contact Mr. Crawford
for the "5 sox ANntai Caro and revenue bonds(rise Ba s'}to be either In Writing or by telephone In
Control'folder,Contact#ha Pro act lssugd by the Issuer In one or more advance`of the boating. An Jn
Mim gor Ronald Clements,at( series of tax-exempt fronds In an 8
17) aggrec ato'pprinelpai amoulrt not to torestad persons unable to atend
392 801 of kmall exc� $7700)000. Tho roceads the hearing ilia submit their vlows
Rorlald.Clements fort Worth of the BbhWs wjtl be leaned to LOS in vrriting to ,CrntrfaraJ prior to
tr additi for nform information . Stallion Pointe LP {or a related the data scheduled for the hearing,
Far addltJonaJ tnfaimatlan contort This Notice at public Hearlrsg 13 given
the Project Archltvpct,David Duman, parson or afft(itato thereof) (the, and the re of hearing is Del s hall j
of (817} 54656315 or small. of tiaa osrts�of the developmn Ocilla 7 rursuarlt to the teq(thements at
davitidLdgarclr.com a multifamily residential rental the Act,
TARRANT COUNTY Hosppital Olstrict deyelopment known as Stallion Boundarles of PID
dhoJPS Health Natwor JtPirtcltasing Paint? Apaf#moots {the Tho proposed PID Is appraxlmataly
Department is Soliciting RFBSIRFPs Devoto Mont 1), yontalning pp 10 acres of vocant land Jecaced in
for the follow me Proximotoly 264 units and located north Arlin ton east of State
RFB/f?FP asLHY 1284 Ultrasound within the city of Fork Worth at Hlghway 15 , south of the Trinity
Mrammoorapphy Units approximately 9473 Race street, Rallway rxprt:ss right-of-way, and
Due WW'03.10,2016 2:00 pet Fort Worth Texas 76144, The north and West of to Trinity River
RFBIRFP 'ISF-0291 NJtrile Examl• Dovofopmen{will be Initially ovineil and In the Northwest Curator of the
nattion Gloves b the Borrower. Vhldian residential devojoprrl c A
Duo Data;03,10»2016 2;00,,pill At In#arrzstad Per or x are Invited#a m os end bounds :1e,crlP#Idn is
RFRIRFP 04H-0292 FIT Colorectal attend such public (rearing to ava�labic for Insttnection at the
sCleaning Tost axpross their views MkJt respect D)stijct office ii the location
Due Dante:03.20.2016 2:00 p,m, to the DeveloRMont and the lssu• described above. 3
Q)ds�Proposals roust he 404ted and anew of rho ttrnkis=,Questions or —NOTICE---OF Public Salo
dellve ed ny the due date and It leouests for additional Information Deer firma s blic Sa j
sp¢cifted, Lake responsou', III not may be rilroctod to Brian Down son, 717 r' Crowley Rand
no accepted under any circum• Trinit 'Rivet.AubljC Facility Cor- Cros�lo� Texas 76036
stinCOS pFaratlyon, 1201 East 13th Street, Mar h 0 f01b 11.30 am
Fort Worth, Texas 76102, (8173 we star a8`i3urJosan So3 Storage
Legal Notices 333-3440 www,ftwha deq, at zdram
parsons.ciao ht#anti to appear at the at to Chapter 59 of the Texas
APPLICATION �HAS l heath to contact Mrir.Dennison pro arty Coda vie will conduct d
olth(ZI to contact Mr, porrne in poll lc.silo of the contents In the
airier In wilt lbo air by telephone in storage units listed belay at the
Bt3 �8 With tile advance aF h hearing, Ala In- location and on Use data,and thilp
Texas Alcoholic tarostad parsons unable to�a rand shot,in abovo to satisfy a Iandlard's
rho lreaNnt3 ma suhmJ thuir.vla.rs lien,All 54145'Will be far cash only f,
B v I� ,� Commits. In writing to'&Dennison prior to to the fIgh st bidder:Ali success Of
It71'i #or a MiXed Ilia date scheduled for the hearing, bidders writ remover all contents lit
This notice is published and the the-tinit immediately,The Company
Beverage R to M above•destrlbect he,arhag Is to be roservos the right to reject any Illd
ran Permit Witt l:13 held in satisfaction of the re- and vrlthdrivi any Ram from this
quiremeents of Section 147(f)o the Sala,
b Mar-Cb in TeX* internal Ravonue Code of 19U� as Unit,
Wee to ourmet,LLB aMOna�e regarding the public op- 7 Oradlov Itsastor
Pro pforequlsito to tee exclusion 15 Brenda Bollinger
tiba Mar-Co inn T
X. From rlrass intonno far federal 49 Crystal cunning
Me f1 riT14 Income tax purpasas of the interest 51 Chris#opher Alien
r on rho Bonds, ather than any 52 Konnotli Worrr<.ck'
be located a Vii. mtaxats10 bonds.
67 Jason Decker
1age ircl , e. �',()f3r. i`d0'f1Cir OF PUf1LI( HCARiN�Cat b7 Daia A:grseV•r
THE BOARD OF DiRCCTORS OF 72 Tabetha Hilbert
COun� ` Tarrant THE VIRIDIAN MUNICIPAL 1 85 Angola Woolay
r X 76262. MANAGEMENT:DISTRICT 97 Alfred Mean
TO CONSIDER THE ADVISABIL!TY 166 Rlmberli Collier
0 icer Of said;[PLC OF THE CREATION OF A OUR& ISO Sylvia Palk
are RUth Angel, IMPROVEMUNT DISTRICT'to 18x1 Lorl Andors
MAKE CERTAIN IMPROVEMENT; 193 Susan Ptuott
Manager, OVER CERTAiN`PROPERTY 216 Amanda Spearg
LOCATED WITHIN THE 253 thus Hill
APPLICATI BOUNDARIES OF THE VIRIDIAN ---
een made With the_ MUNICIPAL MANAGEMENT NOTICE=7O CREDITORS
DISTRICT. NoUee 1%hereby given that or)glnul
Texas Alcoholic NOTICE IS HeREBY Gl EN THAT the Letters Testamentary for file Es-
Beverage Cornmis. Board of t hoctar, {tlao Board") tat', of 'timothy Jacob Pitcher,
of the Virldlan Msariicipal fvlanatie Daceasfld,wire is 1*Qvd on Febrdasy
Si()r) for a 0 Wine Mont District {rho t'Dlstrict"}, lsts 2016; in Cause Na. 2016=
pursuant to ch:,ut�t '"77005 Local PR00052-1 pamlinq In tho Prabisto
r— ,,t 0th i "f.crrnnr ro,iniv.Twai,