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HomeMy WebLinkAbout2012/02/07-Minutes-Fort Worth Housing Finance Corporation (FWHFC)CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED — SPECIAL SESSION TUESDAY, FEBRUARY 7, 2012 Present: President Kathleen Hicks Secretary Frank Moss Director Betsy Price Director Salvador Espino Director W. B. "Zim" Zimmerman Director Jungus Jordan Director Dennis Shingleton Director Joel Burns Absent: Vice President Danny Scarth City staff: Fernando Costa, Assistant City Manager Vicki Ganske, Senior Assistant City Attorney Ron Gonzales, Assistant City Secretary Jay Chapa, Assistant General Manager Other staff: Tom Higgins, City Manager Cynthia Garcia, Administrator Horatio Porter, Budget Officer, City Manager's Office Robert Stums, Economic Development Manager, Housing & Economic Development Dept. LeAnn Guzman, Senior Assistant City Attorney 1. Call to Order. With a quorum present, President Hicks called the meeting to order for the Board of Directors of the Fort Worth Housing Finance Corporation (Corporation) at 1:58 p.m. on Tuesday, February 7, 2012, in the Pre - Council Chamber of the Fort Worth Municipal Building, 1000 Throckmorton Street, Fort Worth, Texas, with Vice President Scarth absent. 2. Approval of Minutes of the January 10, 2012, Meeting. President Hicks opened the floor for a motion on the approval of the minutes of the Tuesdav, January 10, 20 12, meeting. CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED - SPECIAL SESSION TUESDAY, FEBRUARY 7, 2012 PAGE 2 MOTION: Upon a motion made by Director Jordan and seconded by Director Burns, the Board of Directors voted unanimously 8 "ayes" and 0 "nays ", with Vice President Scarth absent, to approve the Tuesday, January 10, 2012, minutes of the Corporation as presented. The motion carried. NOTE. Written Reports, draft resolutions, PowerPoint presentations and other documents prepared by staff for this meeting are not detailed in these minutes; the information is summarized. Complete documents are on file in the City Secretary's Office. 3a. Written Reports: Fort Worth Housing Finance Corporation Financial Report through December 31, 2012. President Hicks referenced the Financial Report through December 31, 2012, and opened the floor for discussion on the report. There was no discussion on this agenda item. The written report was provided to the Board as a matter of information. There was no formal action taken on the report. 4. Consider and Adopt Resolution Amending the Bylaws of the Corporation to Change the Number of Directors Required for a Quorum and Increase Spending Authority. Mr. Jay Chapa, Assistant General Manager, Fort Worth Housing Finance Corporation, addressed the Corporation regarding the proposed resolution. Mr. Chapa advised that the current bylaws were adopted on June 3, 2008, and had been under review to determine if any changes were necessary to assist in the operation of the Corporation. He summarized the recommended changes by staff as follows: - §2.08 Quorum: Change the quorum requirement from 6 to 5. - §4.07 General Manager (a)(8): Increase the amount that the General Manager can spend from $25,000.00 to $50,000.00 when appropriated by the Corporation. • Add provision that allows the General Manager to pay an Option Fee up to $25,000.00 for land purchases. • Increase the amount of Earnest Money the General Manager can pay from $10,000.00 to $50,000.00. • Increase the amount the General Manager can pay to purchase property from $5,000.00 to $25,000.00. - §4.07(b) General Manager: Only allows the General Manager to purchase property in target areas. Amendment will remove "targeted areas" since all projects have been approved by the Corporation Board. - §4.03 President: Increase spending authority from $25,000.00 to $50,000.00 when funds have been appropriated by the Corporation Board. CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED - SPECIAL SESSION TUESDAY, FEBRUARY 7, 2012 PAGE 3 President Hicks opened for the floor for discussion on this issue. In response to questions raised by Directors Burns and Shingleton, Mr. Chapa pointed out that the proposed amendments would align the Corporation with the City's policies and practices regarding similar authority and purchases. He added that the changes would also preclude the loss of any bargaining potential previously experienced within the current guidelines. There being no further discussion, President Hicks opened the floor for a motion. MOTION: Upon a motion made by Director Shingleton and seconded by Director Espino, the Board voted unanimously 8 "ayes" and 0 "nays ", with Vice President Scarth absent, to approve Resolution No. FWHFC 2012 -03. The motion carried. 5. Executive Session. President Hicks stated that she had been advised that an Executive Session was not necessary to discuss the following items: A. Seek the advice of its attorneys concerning the following items that are exempt from public disclosure under Article X, Section 9, of the Texas State Bar Rules, as authorized by Section 551.071 of the Texas Government Code: (i) legal issues concerning any current agenda item; B. Discuss the purchase, sale, lease or value of real property, as authorized by Section 551.072 of the Texas Government Code. Deliberation in an open meeting would have a detrimental effect on the position of the Corporation in negotiations with a third party; and C. Discuss or deliberate negotiations relating to any economic development negotiations, as authorized by Section 551.087 of the Texas Government Code. This agenda item was passed over. 6. Requests for Future Agenda Items. President Hicks opened the floor on requests for future agenda items. No requests were made by Board members. 7. Adjourn. With no further discussion, President Hicks adjourned the called — special session of the Fort Worth Housing Finance Corporation Board at 2:05 p.m. on Tuesday, February 7, 2012. CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED - SPECIAL SESSION TUESDAY, FEBRUARY 7, 2012 PAGE 4 These minutes approved by the Fort Worth Housing Finance Corporation Board of Directors on the 1 S` day of May, 2012. APPROVED: Kathleen Hicks President ATTEST: Frank Moss Secretary 7 P ed and respectfull submitted by: R Rronald P. Gonzales, TRM C Assistant City Secretary