HomeMy WebLinkAboutResolution 4995-10-2018 A Resolution
NO. 4995-10-2018
APPROVING, FOR PURPOSES OF SECTION 147(f) OF THE INTERNAL
REVENUE CODE OF 1986, REVENUE BONDS OF THE TRINITY RIVER PUBLIC
FACILITY CORPORATION FOR A MULTIFAMILY RESIDENTIAL RENTAL
FACILITY CONTAINING APPROXIMATELY 236 UNITS TO BE LOCATED AT OR
NEAR 200 WEST VICKERY BOULEVARD, FORT WORTH, TEXAS 76104 (KATY
STATION LOFTS) (COUNCIL DISTRICT 9)
WHEREAS, Trinity River Public Facility Corporation (the "Issuer") is a Texas non-profit
corporation created in accordance with the Public Facility Corporation Act, Chapter 303 of the Texas
Local Government Code, exclusively for the purpose of assisting the Fort Worth Housing Authority in
financing or providing public facilities and in particular affordable mixed income multifamily housing
units in the State of Texas; and
WHEREAS, FW Katy Station, LP (the `Borrower"), a Texas limited partnership, is seeking to
borrow funds from the Issuer to finance a portion of the cost of the acquisition and construction of a
multifamily housing residential rental project to be known as Katy Station Lofts,to contain approximately
236 units and to be located at or near 200 West Vickery Boulevard in the City of Fort Worth, Texas (the
"Project"), the approximate location of which is reflected in the attached exhibit; and
WHEREAS, Issuer has expressed its official intent to issue tax exempt multifamily housing
revenue bonds or other obligations in an aggregate principal amount not to exceed $50,000,000.00 (the
"Bonds") to finance a portion of the costs of acquisition and construction; 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 obligations by the Issuer in order for
the obligations to qualify as tax-exempt obligations under the Code; and
WHEREAS,the TEFRA Hearing regarding the Bonds and the Project was conducted at 1201 East
13th Street, Fort Worth, Texas, 76102 on September 13, 2018, by a designated hearing officer of the
Issuer, evidence of which is attached hereto as an exhibit.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS THAT:
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
ORT WORT
which the facilities to be financed with the proceeds of the Bonds are to be located,
hereby approves the proposed issuance of the Bonds in an amount not to exceed
$50,000,000.00 to finance development of the Project 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 by the City of Fort Worth. The Bonds shall not
constitute a liability, indebtedness, or obligation of the City of Fort Worth, nor shall
any of the assets of the City of Fort Worth be pledged to the repayment 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 October 16, 2018
Bets ric , Mayo
APPROVED AS TO FORM AND LEGALITY:
By:
Sarah J. F enwider, City Attorney
ATTEST: 7 OF F®�
V :
By: -- -,— ------ -- X ,
Mary Kays i Secretary
oRTWo
CERTIFICATE OF MAYOR OF CITY OF FORT WORTH,TEXAS
REGARDING ISSUANCE OF
TRINITY RIVER PUBLIC FACILITY CORPORATION
MULTIFAMILY HOUSING REVENUE BONDS
(KATY STATION LOFTS)
WHEREAS, a public hearing'was held on September 13, 2018, in the City of Fort Worth, Texas
by Trinity River Public Facility Corporation(the"Issuer")with respect to the proposed issuance of one or
more series of bonds to be issued by the Issuer, at one or more times, in an aggregate principal amount not
to exceed $50,000,000 (the "Bonds"). The proceeds of the Bonds will be loaned to FW Katy Station, LP,
to finance a portion of the costs of the acquisition and construction of a multifamily housing residential
rental development located at 200 West Vickery Boulevard, Fort Worth, Texas 76104, and no member of
the public appeared at such public hearing; and
WHEREAS, it is necessary for the undersigned, as the highest elected official 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 October 16, 2018, 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") and authorizing the highest elected official of the City of Fort Worth,
Texas,to execute this Certificate evidencing such approval; and
NOW, THEREFORE, the undersigned Mayor of the City of Fort Worth, Texas, hereby attests to
the City Council's approval of the issuance of Trinity River Public Facility Corporation Multifamily
Housing Revenue Bonds (Katy Station Lofts) in one or more series, at one or more times, in an aggregate
principal amount not to exceed $50,000,000, 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 October,2018.
City of Fort ,T gas
B :
ayor
[Signature Page—Approval of Highest Elected Official]
4832-3721-3809.vl
EXHIBIT Katy Station Lofts
Council District 9
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EXHIBIT - APPROXIMATE LOCATION
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MINUTES OF PUBLIC HEARING
Re: Trinity River Public Facility Corporation Multifamily Housing Revenue Bonds
(Katy Station Lofts)
The undersigned Hearing Officer of the Trinity River Public Facility Corporation (the
"Issuer") called the public hearing to order at 4:33p.m. on September 13, 2018, at the offices of
the Issuer, 1201 E. 13th Street, Fort Worth, Texas 76102, regarding the issuance of the above-
described Bonds.
The Hearing Officer declared that the public hearing, required under Section 147(f)of the
Internal Revenue Code of 1986, was open for purposes of discussing the Bonds, the proceeds of
which will be loaned to FW Katy Station, LP to and construct a multifamily residential rental
facility to be known as the Katy Station Lofts located at 200 West Vickery Boulevard,Fort Worth,
Texas(the"Project"),containing approximately 236 units.
The required notice of the public hearing for the Project was published in the Fort Worth
Star-Telegram, 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 Exhibit A.
No comments were made by the general public at the public hearing with respect to the
Project.
After sufficient time was given for all present to make their comments with respect to the
Bonds and the Project, the Hearing Officer declared the Public Hearing closed.
Dated as of September 13,2018.
Tyler Arbogast
Hearing Officer
4813-5206-1780.0
StarlblegWA
Arlington Citizen-Journal I The Keller Citizen I Ls Estrella
Mansfield News-Mirfor}8tar-Telegram Northeast i Weatherford Star-Telegram
staraelegram,com 1008 Throckmortoll SG I Ft Worth,TX 76102$3151800.776.7827
AFFIDAVIT OF PUBLICATION
Account# Ad Number Identification PO Amount Cols I Depth
600707 0003814668 NOTICE OF PUBLIC HEARING TRINITY RIVER $1,254.84 1 72.00 Li
Attention: Deborah Champion THE STATE OF TEXAS
COATS ROSE County of Tarrant
14755 PRESTON ROAD
STE 600 Before me,a Notary Public in and for
DALLAS,TX 75254 said County and State,this day
personally appeared CHRISTINE
NOTICE OF PUBLIC HEARING NOTICE OF PUBLIC HEARING LOPEZ,Bid and Legal Coordinator
TRINITY RIVER PUBLIC FACILITY TRINITY RIVER PUBLIC FACILITY l
r
for the Star-Telegram,published b
CORPORATION CORPORATION g y
MULTIFAMILY HOUSING MULTIFAMILY HOUSING the Star-Telegram,Inc,at Fort Worth,
REVENUE BONDS REVENUE BONDS
(KATY STATION LOFTS) (KATY STATION LOFTS) in Tarrant County,Texas;and who,
Notice is herebyo
given of a public Notice is hereby given of a public after being duly sworn,did depose
hearing to be held on behalf of hearing to be held on behalf of
Trinity River Public Facility Cor- Trinity River Public Facility Cor- and say that the attached clipping of
poration (the Issuer"), on
oration the Issuer"), on
Thursday, September 13, 2010, p ( an advertisement was published in
at 4:30 p.m., at 1201 East 13th Thursday, September 13,2018,
street, Fort Worth, Texas at a;30 p m.,at 1201 East 13th the above named paper on the listed
76102,with res act to an issue Street, Fort Wath, Texas
of multifamily housing revenue 76102,with respect to an Issue dates:
bonds (the "Bonds") to be is- of multifamily housing revenue
sued by the Issuer in one or bonds (the "Bonds") to be Is-
more series of tax-exempt sued by the Issuer In one or
bonds In an aggregate principal more series of tax-exempt
amount not to exceed bonds In an aggregate principal
$50,000,000. The proceeds of1�mount not to exceed 1 Insertion(s)
the Bonds will be loaned to FW 550,000,000. The proceeds of
Katy Station LP (or a related the Bonds will be loaned to FW
Berson or affiliate thereof)(the Katy Station LP (or a related Published On:
Borrower"), to finance a por- person or affiliate thereof)(the
tion of the costs of the acquisi- "Borrower"), to finance a por- August 18,2018
tion and construction of a multi- tion of the costs of the acquisi-
family residential rental devel- tion and construction of a multi-
opment known as Katy Station family residential rental devel-
Lofts(the "Development) con- opment known as Katy Station
taining approximately 234units Lefts(the "Development"),con-
and located at200 West Vickery talning approximately 236units LL
Boulevard, Fort Worth, Texas and located at200 West Vickery DEBORAH JEAN BAYLOR
76104. The Development will be I Boulevard, Fort Worth, Texasinitially owned by the Borrower. 1 76104. The Development will be :Notsry PubPic,State of Te,;=;s
All interested persons are invited 1 initially owned by the Borrower. Cornet.ExplPes 1G-29-2GT9
to attend such public hearing toexpress their views with re- All interested persons are invited Notary ID 131142344-2
svect to the Development and to attend such public hearing to
the issuance of the Bonds. express their views with re-
questions or requests for addi- sped to the Development and
tional information may be di- the issuance of the Bonds. I
rected to Sydnee Freeman,Trin- QQuestions or requests for addi-
ity River Public Facility Corpora- tlonal Information may be di- `
tion P.O. Box 430,Fort Worth rested Sydnee Freeman,Trin-
TX X6101(817)333-3400,www. ity River
Public Facility Corpora-
whs.org. tion P.0.Box 430,Fort Worth
Persons who intend to appear at TX#6101(817)333-3400,www, (Principal Clerk)
the hearing and express their whs,org•
views are invited to contact Ms. Persons who intend to appear at
Freeman either In writing or by the heaving and express their SUBSCRIBED AND SWORN TO
telephone in advance of the views are invited to contact Ms.
hearing. Any interested persons Freeman either In writing a by BEFORE ME,THIS 28th day of
unable to attend the hoaring telephone in advance'of the
may submit their views in writ- hearing, Any interested persons August in the year of 2018
Ing to Ms. Freeman prior to the unable to attend the hearing
date scheduled for the hearing. may submit their views In writ-
This notice is published and the Ing to Ms.Freeman prior to the
above-doscribed hearing Is to be date scheduled for the hearing.
held in satisfaction of the re-
quirements of Section 147(f) of This notice is published and the
the Internal Revenue Code of above-described hearing Is to be
1986,as amended,regarding the held In satisfaction of the re- ^•
ppublic approval prerequisite to grements of Section 147(f)of Notary Public-Deborah Ba r
the exclusion from gross income the Internal Revenue Cote of
for federal income tax purposes 1486,as amended,regarding the
of the interest on the Bonds, public approval prerequisite to
other than any taxable bonds. the exclusion from gross Income
for federal Income tax purposa,
of the interest on the Bands,
other than any taxable bonds.
PUBLIC HEARING FOR
TRINITY RIVER PUBLIC FACILITY CORPORATION
KATY STATION LOFTS
SEPTEMBER 13,2018
MR=NAME sl mrm STREET ADDR suppm otos[
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