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HomeMy WebLinkAbout2009/08/04-Minutes-Fort Worth Housing Finance Corporation (FWHFC) CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED—SPECIAL SESSION TUESDAY, AUGUST 4,2009 Present: President Kathleen Hicks Vice President Danny Scarth Secretary Frank Moss (Arrived at 1:10 p.m.) Director Mike Moncrief Director Salvador Espino Director W.B "Zim" Zimmerman Director Jungus Jordan Director Carter Burdette (Arrived at 1:08 p.m.) Director Joel Burns (Arrived at 1:08 p.m.) 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 Jean Petr, Gas Lease Program Manager, Planning & Development Department Other staff: Marty Hendrix, City Secretary 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 1:00 p.m. on Tuesday, August 4, 2009, in the Pre-Council Chamber of the Fort Worth Municipal Building, 1000 Throckmorton, Fort Worth, Texas, with Directors Moss, Burdette and Burns temporarily absent. CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED— SPECIAL SESSION TUESDAY, AUGUST 4, 2009 Approval of Minutes of the May 12, 2009 Meeting (Agenda Item 2) President Hicks opened the floor for a motion on the approval of the minutes of the Tuesday, May 12, 2009, meeting. MOTION: Upon a motion made by Director Espino and seconded by Director Moncrief, the Board of Directors voted six (6) "ayes" and zero (0) "nays", with Directors Moss, Burdette and Burns absent, to approve the Tuesday, May 12, 2009, minutes of the Fort Worth Housing Finance Corporation as presented. The motion carried. Election of Officers (Agenda Item 3) Mr. Jay Chapa, Director of the Housing and Economic Development Department, advised that the positions of President, Vice President and Secretary, were available for nominations as officers of the Board for 2009-2010. President Hicks opened the floor for a motion on the election of Corporation Board President. MOTION: Upon a motion made by Director Scarth and seconded by Director Moncrief the Board of Directors of the Fort Worth Housing Finance Corporation voted unanimously six (6) "ayes" and zero (0) "nays", with Directors Moss, Burdette and Burns absent, to elect by acclamation Kathleen Hicks as President of the Fort Worth Housing Finance Corporation. The motion carried. President Hicks opened for the floor for a motion on the election of Corporation Board Vice President. MOTION: Upon a motion made by President Hicks and seconded by Director Espino the Board of Directors of the Fort Worth Housing Finance Corporation voted unanimously six (6) "ayes" and zero (0) "nays", with Directors Moss, Burdette and Burns absent, to elect by acclamation Director Danny Scarth as Vice President of the Fort Worth Housing Finance Corporation. The motion carried. President Hicks opened the floor for a motion on the election of Corporation Board Secretary. CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED—SPECIAL SESSION TUESDAY,AUGUST 4, 2009 Election of Officers (cont'd) (Agenda Item 3) MOTION: Upon a motion made by Director Moncrief and seconded by Director Espino the Board of Directors of the Fort Worth Housing Finance Corporation voted unanimously six (6) "ayes" and zero (0) "nays", with Directors Moss, Burdette and Burns absent, to elect by acclamation Director Frank Moss as Secretary of the Fort Worth Housing Finance Corporation. The motion carried. President Hicks recessed the called — special session into Executive Session at 1:04 p.m. in accordance with the requirements of the Texas Open Meetings Law. Executive Session (Agenda Item 7) President Hicks convened the called— special session into Executive Session at 1:05 p.m. to discuss the following items: 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 Directors Burdette and Burns arrived at the meeting. 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. The Executive Session ended at 1:10 p.m. President Hicks reconvened from the Executive Session into the called — special session at 1:11 p.m. and returned to Agenda Item 4-A. Director Moss arrived at the meeting. CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED—SPECIAL SESSION TUESDAY, AUGUST 4,2009 Written Reports: Fort Worth Housing Finance Corporation Financial Report through June 30, 2009 (Agenda Item 4-A) President Hicks referenced the Financial Report through June 30, 2009, and opened the floor for discussion on the report. Director Burdette stated that the Balance Sheet reflected a balance of approximately $4.4 million in the Housing Trust Fund General Fund. He requested staff confirm if that was the $900,000.00 expenditure related to an item on the City Council agenda today (see M&C No. G-16640). He also referred to an entry on Page 2 of the report that reflected expenditures in Contractual Services (including Housing Trust Fund expenses), as being almost $1 million and asked for an explanation of how much of that expenditure was actually the Housing Trust Fund's. Mr. Chapa confirmed Director Burdette's inquiry relative to the $900,000.00 expenditure. He added that he would provide a breakdown of the contractual services and advised that the $997,708.00 actually reflected the full amount of the Housing Trust Fund loans that had been made. Director Burdette stated that he interpreted the entry to mean that the Housing Trust Fund had entered into some contracts and paid some contractual fees. Mr. Chapa stated that he would double check on Director Burdette's interpretation, but that he believed the amount included the actual contracts on the mortgages and loans made by the Housing Trust Fund. The written report was provided to the Board as a matter of information. There was no formal action taken on the report. Adopt Resolution Accepting a Natural Gas Lease with Chesapeake Energy for Properties in Eastcrest Addition (Agenda Item 5) Director Jordan recused himself from discussion and voting on this item and left the Pre- Council Chamber. Ms. Jean Petr, Gas Lease Program Manager, Housing and Economic Development Department, addressed the Board regarding the proposed resolution. She provided the following background information: CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED—SPECIAL SESSION TUESDAY, AUGUST 4, 2009 Adopt Resolution Accepting a Natural Gas Lease with Chesapeake Energy for Properties in Eastcrest Addition (cont'd) (Agenda Item 5) • In June, staff received an offer letter from Chesapeake to "voluntarily pool" one tract of FWHFC property in the Mount Tabor Unit • Research indicated that several additional FWHFC properties were adjacent to and just outside of the proposed Mount Tabor Unit Ms. Petr displayed a map of the original Mount Tabor Unit that reflected properties located inside and outside of the unit. She explained that the area in red was the Mount Tabor Unit and the properties in green were directly outside and adjacent to the unit as reflected below: • Edgewood Terrace Addition (in unit) o Block 9Ra, Lot 5A—3104 Sirron Street • Eastcrest Addition (not in unit) • Block 2, Lot 1 —3137 Eastcrest Court • Block 2, Lot 2—3133 Eastcrest Court • Block 2, Lot 4—3109 Eastcrest Court • Block 2, Lot 6—3103 Eastcrest Court • Block 1, Lot 8 —3108 Eastcrest Court • Block 1, Lot 10—3100 Eastcrest Court • Approximately 1.2 acres total Ms. Petr advised the Board of the following negotiations with Chesapeake: • Staff requested that Chesapeake lease and include the adjacent FWHFC properties within the Mount Tabor Unit • On June 22, 2009, Chesapeake agreed: o $2,500.00/acre bonus 0 25% Royalty 0 2 year lease term o No surface use o Standard lease form Ms. Petr displayed another map that reflected the adjusted Mount Tabor Unit which depicted the six (6) properties that were previously located outside of the original unit as now being included within the Mount Tabor Unit. She concluded her presentation by recommending the Board authorize staff to proceed with the leasing of FWHFC properties under the proposed terms. CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED— SPECIAL SESSION TUESDAY, AUGUST 4, 2009 Adopt Resolution Accepting a Natural Gas Lease with Chesapeake Energy for Properties in Eastcrest Addition (cont'd) (Agenda Item 5) President Hicks opened the floor for discussion on this issue. Director Moss advised that he believed the leases for these properties would be considered by the City Council next week. Director Moncrief asked if the residents that were not initially part of the original unit were relatively satisfied as being included as part of the unit, what was being proposed and the location of the well site. Ms. Petr responded by stating that she understood this was actually a Housing Finance Corporation Board opinion that the residents were satisfied. Director Burdette referred to the adjusted Mount Tabor Unit map displayed and clarified that the properties in green were actually Housing Finance Corporation properties. He asked for an explanation of the properties in white and if those properties would be included in the unit. Ms. Petr stated that the white area contained a cul-de-sac and mineral areas not owned by the Housing Finance Corporation. She stated that she believed the properties could be part of the unit if they were leased, but that she had not discussed the possibility with Chesapeake. She added that the properties were not City or Housing Finance Corporation properties. Director Moncrief asked if it would not be beneficial to Chesapeake to seek the leases to make the unit more compact. Ms. Petr stated that she would discuss this issue with Chesapeake to see if they could be included as part of the unit. Director Burdette stated that the reason he raised the question was that if those property owners were not included the unit then there might be some unhappiness with those owners and neither the City nor Chesapeake wanted that to occur. There being no further discussion, President Hicks opened the floor for a motion. MOTION: Upon a motion made by Director Moncrief and seconded by Director Scarth, the Board voted eight (8) "ayes" and zero (0) "nays", with one abstention by Director Jordan, to approve Resolution No. FWHFC 2009-07. The motion carried. Director Jordan returned to his place at the table. CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED—SPECIAL SESSION TUESDAY,AUGUST 4, 2009 Adopt Resolution Authorizing Payment of$1,500.00 to Joseph Rocket for Professional Services Rendered for the Infill Housing Development Program (Agenda Item 6) Ms. Cynthia Garcia, Assistant Director of Housing and Economic Development Department, addressed the Board regarding the proposed resolution. She explained that in April 2009, Mr. Jerome Walker, former Housing and Development Department Deputy Director, entered into an agreement on behalf of the Board with Joseph Rocket for design work in Terrell Heights for designs for homes. She advised that staff recommended the Corporation terminate that agreement and pay Mr. Rocket for services rendered in the amount of$1,500.00. 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 Moncrief and seconded by Director Espino, the Board voted nine (9) "ayes" and zero (0) "nays" to approve the Resolution No. FWHFC 2009-08. The motion carried. 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 1:15 p.m. on Tuesday, August 4, 2009. These minutes approved by the Fort Worth Housing Finance Corporation Board of Directors on the 1 st day of September, 2009. APPROVED: I a �� U Kathleen Hicks President CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION CALLED—SPECIAL SESSION TUESDAY,AUGUST 4, 2009 ATTEST: Frank Moss Secretary Prepared and respectfully submitted by: on Gonzales Assistant City Secretary