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Home My WebLink About2011/04/05-Minutes-Fort Worth Housing Finance Corporation (FWHFC)CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED — SPECIAL SESSION TUESDAY, APRIL 5, 2011 Present: President Kathleen Hicks Vice President Danny Scarth (Arrived at 2:50 p.m.) Secretary Frank Moss Director Mike Moncrief Director Salvador Espino Director W. B. "Zim" Zimmerman Director Jungus Jordan Director Carter Burdette Director Joel Burns City staff: Susan Alanis, Assistant City Manager Vicki Ganske, Senior Assistant City Attorney Ron Gonzales, Assistant City Secretary Jay Chapa, Assistant General Manager Coy Gray, Senior Administrative Services Manager Jean Petr, Gas Lease Program Manager Robin Bentley, Acting Housing Program Manager Other staff: Cynthia Garcia, Assistant Director, Housing & Economic Development Department Robert Stums, Economic Development Manager, Housing & Economic Development Dept. Leann Guzman, Assistant City Attorney Ryan Haden, Development Project Coordinator, Housing & Economic Development Dept. Avis Chaisson, Development Project Coordinator, Housing & Economic Development Dept. Fabiola Suarez, Economic Development Specialist, Housing & Economic Development Dept. Ana Alvarez, Economic Development Specialist, Housing & Economic Development Dept. Call to Order (Agenda Item 1) 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 2:49 p.m. on Tuesday, April 5, 2011, in the Pre - Council Chamber of the Fort Worth Municipal Building, 1000 Throckmorton Street, Fort Worth, Texas, with Vice President Scarth temporarily absent. CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED — SPECIAL SESSION TUESDAY, APRIL 5, 2011 PAGE 2 Approval of Minutes of the February 8, 2011, Meeting (Agenda Item 2) President Hicks opened the floor for a motion on the approval of the minutes of the Tuesday, February 8, 2011, meeting. MOTION: Upon a motion made by Director Burdette and seconded by Director Espino, the Board of Directors voted eight (8) "ayes" and zero (0) "nays ", with Vice President Scarth temporarily absent, to approve the Tuesday, February 8, 2011, minutes of the Corporation as presented. The motion carried. Written Reports: Fort Worth Housing Finance Corporation Financial Report through February 28, 2011 (Agenda Item 3A) President Hicks referenced the Financial Report through February 8, 2011, 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. Executive Session (Agenda Item 4) 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. CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED — SPECIAL SESSION TUESDAY, APRIL 5, 2011 PAGE 3 Adopt Resolution Authorizing the Transfer of $614,972.50 From the Non - Federal Portion of the Fort Worth Housing Trust Fun for Use as HOME Match (Vice President Scarth arrived at the meeting.) (Agenda Item 5) Mr. Coy Gray, Senior Administrative Services Manager, Housing and Economic Development Department, addressed the Corporation regarding the proposed resolution. He reminded the Corporation members that Informal Report No. 9310 relative to this subject was made available to the City Council on March 22, 2011, in their Council Meeting Packet. Using a PowerPoint Presentation, Mr. Gray provided the following background information on the HOME match: • Fort Worth Housing Finance Corporation administers the City's Fort Worth Housing Trust Fund ( FWHTF). • Department of Housing and Urban Development (HUD) requires the City to match 12.5% of HOME grant funds drawn on an annual basis. • Match must be satisfied from non - federal sources. • The City projects draws of $4,919,780.00 in FY 2011. • Match requirement is $614,972.50. • Utilize City non - federal funds to control the City's ability to meet HUD match requirements in order to eliminate liability associated with past process. Mr. Gray presented the following staff proposal: • Utilize the City's General Fund portion of the FWHTF to meet current year match requirement (Current Balance $974,495.00). • Transfer funds to the City's Homebuyer's Assistance Program (HAP) and other City HOME - funded assisted projects (Race Street Lofts). • Going forward request for General Fund dollars will be made through the budget process. Mr. Gray provided the following recommendation by staff: • Approve a resolution to transfer $614,972.50 from the Housing Trust Fund General Funds to the HAP and Race Street Lofts project. (Vice President Scarth arrived at the meeting.) President Hicks opened the floor for discussion on this issue. CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED — SPECIAL SESSION TUESDAY, APRIL 5, 2011 PAGE 4 Adopt Resolution Authorizing the Transfer of $614,972.50 From the Non - Federal Portion of the Fort Worth Housing Trust Fun for Use as HOME Match (cont'd) (Agenda Item 5) Director Espino asked staff if there were any general funds remaining in the Housing Trust Fund after the transfer was made. Mr. Gray responded affirmatively and stated that approximately $300,000.00 would be remaining. He also added that since the Eastland project was done last year there would be another $900,000.00 available at the end of June 2011 and $700,000.00 from the Wind River project next year for a total of approximately $1.6 million. (Director Jordan left his place at the table and did not return to the meeting.) Director Moss asked what the distribution was between the HAP and the Race Street Lofts relative to the $614,972.50 figure. Mr. Gray stated that the Race Street Lofts would be $250,000.00 the balance of approximately $390,000.00 would go to HAP. There being no further discussion, President Hicks opened the floor for a motion. MOTION: Upon a motion made by Director Espino and seconded by Director Moss, the Board voted eight (8) "ayes" and zero (0) "nays ", with Director Jordan absent, to approve Resolution No. FWHFC 2011 -05. The motion carried. Adopt Resolution Approving a Gas Lease with Chesapeake Exploration, LLC, for 4913 Ramey Avenue (Agenda Item 6) Ms. Jean Petr, Gas Lease Program Manager, Planning and Development Department, addressed the Corporation regarding the proposed resolution. Using a PowerPoint presentation, she presented the following background information on the lease request: • Chesapeake Energy, LLC, requested a lease on HFC property located at 4913 Ramey Avenue. o Council District 5 CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED — SPECIAL SESSION TUESDAY, APRIL 5, 2011 PAGE 5 Adopt Resolution Approving a Gas Lease with Chesapeake Exploration, LLC, for 4913 Ramey Avenue (cont'd) (Agenda Item 6) • Lease Terms o $3,000.00 per acre bonus 0 25% Royalty 0 2 -year term o No surface use Ms. Petr provided an aerial view of the location, followed by a slide entitled "Anderson Unit" that reflected the following information: • Lot 14, Block 3, Maxwell Subdivision • 0.132 acre, more or less • $396.00 total bonus Ms. Petr concluded her presentation by stating that the terms of the lease were at current market rate and added that it was staff's recommendation that the Corporation execute the lease. President Hicks opened the floor for discussion on this issue. There being no discussion, President Hicks opened the floor for a motion. MOTION: Upon a motion made by Director Moss and seconded by Director Moncrief, the Board voted eight (8) "ayes" and zero (0) "nays ", with Director Jordan absent, to approve Resolution No. FWHFC 2011 -06. The motion carried. Adopt Resolution Approving a Contract with an Architect for Plans for Infill Housing in the Terrell Heights Neighborhood and Stop Six Sunrise Edition Model Block Area (Agenda Item 7) Ms. Robin Bentley, Acting Housing Program Manager, Housing and Economic Development Department, addressed the Corporation regarding the proposed resolution. Using a PowerPoint presentation, Ms. Bentley provided the following background information relative to the Stop Six Sunrise Edition Model Block: CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED — SPECIAL SESSION TUESDAY, APRIL 5, 2011 PAGE 6 Adopt Resolution Approving a Contract with an Architect for Plans for Infill Housing in the Terrell Heights Neighborhood and Stop Six Sunrise Edition Model Block Area (cont'd (Agenda Item 7) • Original model block allocation was $1.2 million ($600K each of CDBG and HOME funds). • The remaining HOME funds ($386K) must be spent by September 2011. • A series of neighborhood meetings were held to discuss option to spend the funds and residents voted on two (2) options: • Funds will first be spent on the Home Improvement Loan Program (HILP). Deadline for applications is May 6, 2011. • Remaining funds will be used for acquisition of tax foreclosed lots and rehabilitation of new construction of single family homes. Ms. Bentley then provided the following background information relative to the second project, Terrell Heights Infill: • HFC has option to purchase 11 residential lots in Terrell Heights. • Project includes rehabilitation or new construction of single family infill homes. • Up to $1 million in HOME funds available for project. Ms. Bentley advised the Corporation of the next steps in this process as follows: • Hire architect to design three (3) housing floor plans with six (6) elevations for each project. • Architect will also provide required construction documents. • All designs will be three (3) or four (4) bedroom single family homes. • Designs will comply with architectural styles of neighborhoods as well as specific neighborhood requirements. Ms. Bentley concluded her presentation by stating that staff's recommendation was for the Corporation to authorize staff to spend up to $50,000.00 per project to hire an architect to provide floor plans, elevations and construction documents. President Hicks opened the floor for discussion on this issue. There being no discussion, President Hicks opened the floor for a motion. CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED — SPECIAL SESSION TUESDAY, APRIL 5, 2011 PAGE 7 Adopt Resolution Approving a Contract with an Architect for Plans for Infill Housing in the Terrell Heights Neighborhood and Stop Six Sunrise Edition Model Block Area (cont'd (Agenda Item 7) MOTION: Upon a motion made by Director Moncrief and seconded by Director Moss, the Board voted eight (8) "ayes" and zero (0) "nays ", with Director Jordan absent, to approve Resolution No. FWHFC 2011 -07. The motion carried. Requests for Future Agenda Items (Agenda Item 8) President Hicks opened the floor on requests for future agenda items. No requests were made by Board members. Adiourn (Agenda Item 9) With no further discussion, President Hicks adjourned the called — special session of the Fort Worth Housing Finance Corporation Board at 2:58 p.m. on Tuesday, April 5, 2011. These minutes approved by the Fort Worth Housing Finance Corporation Board of Directors on the J3rd _ day of May_, 2011. APPROVED: Kathleen Hicks President ATTEST: Frank Moss Secretary CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED — SPECIAL SESSION TUESDAY, APRIL 5, 2011 PAGE 8 Prepared and respectfully submitted by: Gy tiaL,� t 6w,mi- R nald P. Gonzales, T /CMC Assistant City Secretary