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Home My WebLink About2009/05/12-Minutes-Fort Worth Housing Finance Corporation (FWHFC) CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED—SPECIAL SESSION TUESDAY, MAY 12, 2009 Present: President Kathleen Hicks Secretary Frank Moss Director Mike Moncrief Director Salvador Espino Director Jungus Jordan Director Carter Burdette (Arrived at 2:59 p.m.) Director Joel Burns Absent Vice President Danny Scarth City staff: Tom Higgins, Assistant City Manager Vicki Ganske, Senior Assistant City Attorney Ron Gonzales, Assistant City Secretary Jay Chapa, Director of Housing & Economic Development Department Cynthia Garcia, Assistant Director, Housing & Economic Development Department Karen Meunier, Housing Program Manager, Housing &Economic Development Department Other staff: Marty Hendrix, City Secretary Darlene Allen, City Auditor Fernando Costa, Assistant City Manager Henry Day, Senior Management Analyst, Housing & Economic Development Department Ardina Washington, Business Development Coordinator, Housing & Economic Development Department 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 2:55 p.m. on Tuesday, May 12, 2009, in the Pre-Council Chamber of the Fort Worth Municipal Building, 1000 Throckmorton, Fort Worth, Texas, with Vice President Scarth absent and Director Burdette temporarily absent. CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED—SPECIAL SESSION TUESDAY, MAY 12, 2009 Approval of Minutes of the March 24, 2009 Meeting (Agenda Item 2) President Hicks opened the floor for a motion on the approval of the minutes of the Tuesday, March 24, 2009, meeting. MOTION: Upon a motion made by Director Moss and seconded by Director Espino, the Board of Directors voted six (6) "ayes" and zero (0) "nays", to approve the Tuesday, March 24, 2009, minutes of the Fort Worth Housing Finance Corporation as presented. The motion carried with Vice President Scarth absent and Director Burdette temporarily absent. Written Reports: Fort Worth Housing Finance Corporation Financial Report through January 31, 2009 (Agenda Item 3-A) The written report was provided to the Board as a matter of information. There was no discussion or formal action taken on the report. Adopt Resolution Authorizing a Contract with FW City Construction Company for Mowing and (Agenda Item 4) Maintenance of the Corporation's Properties Ms. Cynthia Garcia, Assistant Director of Housing and Economic Development Department, addressed the Board regarding the proposed resolution. She provided the following background information: • HFC Properties—94 Properties of various sizes (residential and vacant lots and acreage) • Property Maintenance • Mowing • Light Debris Cleanup • Estimated Annual Budget of $51,000.00 (Ms. Garcia noted that the amount should be $50,000.00) • FW City Construction Company, L.L.C. • Currently maintain properties for the Fort Worth Housing Finance Corporation • Acts as the General Contractor and hires subcontractors to do the maintenance ■ Use the City of Fort Worth M/WBE list of contractors CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED— SPECIAL SESSION TUESDAY, MAY 12, 2009 Adopt Resolution Authorizing a Contract with FW City Construction Company for Mowing and Maintenance of the Corporation's Properties (cont'd) (Agenda Item 4) Ms. Garcia advised of the following contract terms: • Must comply with the insurance requirements of the City of Fort Worth o General Liability Commercial General Liability ■ $1,000,000.00 Each occurrence ■ $1,000,000.00 General Aggregate per project • Mowing cycle—every 21 days or on an as needed basis • Contract to be for one year with the option to renew for one year Ms. Garcia stated that staff s recommendation was that the Board authorize a contract with the Fort Worth City Construction Company to maintain HFC property for an amount not to exceed $50,000.00 with the right to renew for one year. She added that if additional funds were needed to maintain the property, staff would come back to the Corporation for approval. MOTION: Upon a motion made by Director Jordan and seconded by Director Espino, the Board voted six (6) "ayes" and zero (0) "nays" to approve Resolution No. FWHFC 2009-04. The motion carried with Vice President Scarth absent and Director Burdette temporarily absent. Adopt Resolution Approving Funding to Complete Acceptance of Conveyance of 3220 Thrall Street and 2511 Mitchell Boulevard from Texas Community Development Corporation (Agenda Item 5) Ms. Cynthia Garcia, Assistant Director of Housing and Economic Development Department, addressed the Board regarding the proposed resolution. She recalled the staff's presentation from March 3, 2009, relative to accepting these properties and stated that during closing on the property, the title company advised staff that a mistake of a few hundred dollars on the taxes owed had been realized. She requested authority to have up to $3,000.00 to complete the transaction. MOTION: Upon a motion made by Director Moncrief and seconded by Director Espino, the Board voted six (6) "ayes" and zero (0) "nays" to approve the Resolution No. FWHFC 2009-05. The motion carried with Vice President Scarth absent and Director Burdette temporarily absent. CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED— SPECIAL SESSION TUESDAY, MAY 12, 2009 Director Burdette arrived at the meeting. Adopt Resolution Authorizing Termination of the Fort Worth Housing Development Fund and Return of Funds to the City of Fort Worth (Agenda Item 6) Ms. Karen Meunier, Housing Program Manager for the Housing and Economic Development Department, addressed the Board regarding the proposed resolution. Ms. Meunier reminded the Board that at their last meeting, the Board authorized a sale agreement in the amount of$1,000,000.00 for the real estate known as the Oak Timbers North Greenbriar project. She added that was the final outstanding loan through the Housing Development Fund that had been repaid and the agreement made with Fannie Mae for the line of credit had been allowed to expire. Director Burdette left the meeting and did not return. Ms. Meunier stated that the Board might recall that the Housing Development Fund was the pilot program for the Housing Trust Fund and the lending functions of the Housing Development Fund had now merged with the trust fund. She concluded by stating that this brought the Housing Development Fund to a very successful close and that in its duration created about 512 units of quality affordable housing for seniors and also the rehabilitation of the Candletree Project and it had leveraged the Corporation's assets at a rate of$1.00 to $16.00. She requested the Board approve the resolution and stated that the interest earned on those funds would be proportionately shared among the original funders. MOTION: Upon a motion made by Director Espino and seconded by Director Moncrief, the Board voted six (6) "ayes" and zero (0) "nays" to approve the Resolution No. FWHFC 2009-06. The motion carried with Vice President Scarth and Director Burdette absent. Executive Session (Agenda Item 7) President Hicks advised that the Executive Session items listed below were not necessary and these items were passed over. A. Seek the advice of its attorneys concerning legal issues regarding any current agenda 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; and CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED—SPECIAL SESSION TUESDAY, MAY 12, 2009 Executive Session (cont'd) (Agenda Item 7) 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. Request for Future Agenda Items and/or Reports (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 3:02 p.m. on Tuesday, May 12, 2009. These minutes approved by the Fort Worth Housing Finance Corporation Board of Directors on the 4th day of Ate, 2009. APPROVED: Kathleen Hicks President ATTEST: Frank Moss Sccretary CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED— SPECIAL SESSION TUESDAY, MAY 12, 2009 Prepared and respectfully submitted by: /Z a�� Ron Gonzales Assistant City Secretary