HomeMy WebLinkAbout2002/03/19-Minutes-Fort Worth Housing Finance Corporation (FWHFC) MINUTES OF THE
FORT WORTH HOUSING FINANCE CORPORATION
PRE-COUNCIL CHAMBERS
TUESDAY, MARCH 19, 2002
2:30 P.M.
Call to Order: The meeting was called to order at 2:45 P.M. with the
following members in attendance:
President Ralph McCloud; Secretary Frank Moss; Treasurer Clyde Picht;
Board of Directors, Kenneth Barr, Chuck Silcox, Jim Lane, Becky Haskin
and Wendy Davis. Director Jeff Wentworth was absent.
Approval of Previous Minutes: Director Lane made a motion, seconded by
Director Barr that the minutes of December 18, 2001 be approved. The
motion carried unanimously.
Mr. Jerome Walker, Housing Director and Mr. W. Robert Johnson, First
Southwest Company, presented a brief background report to the Board of
Directors of the Fort Worth Housing Finance Corporation regarding the
proposed financing structure of the Multi-family Mortgage Revenue Bonds
for Villas of Eastwood Terrace Senior Housing. The Board was advised of a
shortfall of $500,000 to $700,000 due to rising interest rates. The Board
will take action on this item at the meeting on March 26, 2002.
Mr. Jerome Walker, Housing Director and Mr. Chris Spelbring, First
Southwest company presented a report regarding the proposed Single
Family Mortgage Revenue Bonds for First Time Homebuyers. Mr.
Spelbring stated that down payment assistance would be made available to
program participants at the rate of 3.75%. This program would also
include a loan component that would allow participation by qualified
public safety employees, public and private school educators and health
care professionals.
Mr. Jerome Walker, Housing Director requested Board approval of the
following resolution:
Action Item: Proposed Loan Agreement with J.P. Morgan Chase Bank for
$1,000,000 Line of Credit for Infill Housing Development.
Director Moss made a motion, seconded by Director Lane, that the
resolution be adopted. T e motion carried i o ly.
A#Journment. As there was no further business Director Lane made
motion, seconded by Director Picht that he meeting be adjourned. The
motion carried unanimously and the meeting was adjourned at 2:56 P.M.
Ralph McCloud, esi ent