HomeMy WebLinkAboutIR 9118•
• the Mayor and Members of the City Council October 6, 2009
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SUBJECT: Proposed Contract with the Fort Worth Housing Finance
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Corporation for up to $500,000 in 2009 HOME Investment Partnership Grant
Funding for the Terrell Heights Neighborhood Targeted Infill Program.
On June 23, 200• , in the HUD Annual Action Plan, the City of Fort Worth approved the allocation
of $500,000 in HOME Investment Partnership Grant Funding for targeted infill housing in the
Terrell Heights neighborhood. The Terrell Heights neighborhood is located in southeast Fort
Worth bounded by Rosedale to the south, 1-35 to the west, and Hattie Street to the north. The
entire area has an historic overlay and is adjacent to the Evans and Rosedale Urban Village.
Due to the large number of vacant lots, proximity to downtown and location in a Neighborhood
Empowerment Zone (NEZ), staff has targeted this neighborhood for the construction of single-
family, quality, accessible, affordable infill housing. Staff recommends executing a contract with
the Fort Worth Housing Finance Corporation (FWHFC) to use up to $500,000 in HOME funds for
the acquisition and construction of up to five (5) homes.
The proposed terms of the agreement would be as follows:
The buyers will be required to participate in the City of Fort Worth Housing Assistance
(HAP) downpayment assistance program.
• The homes will have at least three bedrooms and two baths each and a minimum of 1250
square feet and a garage.
It is anticipated that the construction of the single family homes will begin in Spring 2010.
If you have any questions on this Informal Report, please contact Jay Chapa, Director at ext.
5804.
1 SSUED BY THE CITY MANAGER FORT WORTH, TEXAS