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Home My WebLink About2012/06/05-Minutes-Fort Worth Local Development Corporation (FWLDC)CITY OF FORT WORTH, TEXAS FORT WORTH LOCAL DEVELOPMENT CORPORATION CALLED — SPECIAL SESSION TUESDAY, JUNE 5, 2012 Present• President Frank Moss Vice President Danny Scarth Treasurer W, B. "Zim" Zimmerman Trustee Salvador Espino (Arrived at 2:20 p.m.) Trustee Jungus Jordan Trustee Dennis Shingleton Trustee Kathleen Hicks Trustee Joel Burns Absent• Trustee Betsy Price Ci staff: Fernando Costa, Assistant City Manager Peter Vaky, Deputy City Attorney Ron Gonzales, Assistant City Secretary Jay Chapa, Director, Housing and Economic Development Department Cynthia Garcia, Administrator Other staff: Tom Higgins, City Manager Robin Bentley, Community Development Manager, Housing & Economic Development Dept. Henry Day, Senior Management Analyst, Housing & Economic Development Department LeAnn Guzman, Senior Assistant City Attorney Vicki Ganske, Senior Assistant City Attorney 1. Call to Order. With a quorum present, President Moss called the meeting to order for the Board of Directors of the Fort Wot�th Local Development Corporation (Corporation) at 2:02 p.m. on Tuesday, June 5, 2012, in the Pre-Council Chamber of the Fort Worth Municipal Building, 1000 Throckmorton Street, Fot�t Worth, Texas, with Ti�ustee Espino temporarily absent and Trustee Price absent, CITY OF I+ORT WORTH, TEXAS FORT WORTH LOCAL D�VELOPM�NT CORPORATION CALL�D - SPECIAL S�SSION TUESDAY, JUN� 5, 2012 PAG� 2 2. Approval of Minutes of the April 3, 2012, Meeting. President Moss opened the floor for a motion on the approval of the minutes of the Tuesday, April 3, 2012, meeting, MOTION: Upon a inotion made by TrusteeShingleton and seconded by Trustee Scarth, the Board of Directors voted unanimously 7 ayes and 0 nays, with Trustee Espino temporarily absent and Trustee Price absent, to approve the Tuesday, April 3, 2012, mii�utes of the Coiporation as presented. The motion carried. NOTE: Wi�itten Reports, �lraft resolutions, PowerPoi�tt pr�esentations and other documents prepa�•ed by staff for this irteeting are not detarled rn these �ninutes; the inforn:ation is summa�,ize�l Cor�tplete docuntents are on file in the Cily Secretafy's Office. 3a. Written Reports: Fort Worth Housing Finance Corporation Financial Report through Apri130, 2012. President Moss referenced the Financial Report through April 30, 2012, and opened the floor for discussion on the report. The written report was provided to the Board as a matter of information. There was no formal action taken on the report. 4. Executive Session. In accordance with Chapter 551 of the Texas Govei�nment Code, President Moss and the Directors of the Fort Worth Local Development Corporation, with Trustee Espino tennporarily absent and Trustee Price absent, convened into Executive Session at 2:03 p.m., on Tuesday, June 5, 2012, in the Pre-Council Chamber of the Fort Worth City Hall, 1000 Throckmoi�ton Street, Fort Worth, Texas 76102, in order to: 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; and 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 related to any economic development negotiations, as authorized by Section 551.087 of the Texas Goveriunent Code, CITY OF rORT WORTH, T�XAS TORT WORTH LOCAL D�VELOPMENT CORPORATION CALLED - SP�CIAL S�SSION TUESDAY, JUN� 5, 2012 PAGE 3 The Executive Session adjourned at 2:12 p.m, President Moss reconvened from the Executive Session back into the called — special session at 2:12 p.m., with Trustee Espino temporarily absent and Ti�ustee Price absent. 5. Discussion and Consideration of Resolution to Authorize the Sale of 2200 Bomar Avenue to the City of Fort Worth for $34,848.00 for a Water Facility. Ms, Cynthia Garcia, Administrator, addressed the Corporation regarding the proposed resolution. Using a PowerPoint presentation entitled "Sale of 2200 Bomar Avenue to the City of Fort Worth", Ms. Garcia provided background infonnation on this item. President Moss opened for the floor for discussion on this issue, There being no discussion, President Moss opened the floor for a motion. MOTION: Upon a rnotion made by Trustee Shingleton and seconded by Trustee Scarth, the Board voted unanimously 7 ayes and 0 nays, with Trustee Espino temporarily absent and Tiustee Price absent, to approve Resolution No. FWLDC-2012-06. The motion carried. 6. Discussion and Consideration of Resolution to Authorize the Purchase of Retail Space in the Houston Street Garage from the City of Fort Worth for $1,900,000.00. Mr. Jay Chapa, Director, Housing and Economic Development Department, addressed the Coiporation regarding the proposed resolution, Using a PowerPoint presentation entitled "Purchase of Retail Space in Houston Street Garage", Mr. Chapa provided background on this item, President Moss opened the floor for discussion on this issue. Trustee Shingleton asked what fund the money from the sale of the property was deposited, Mr. Chapa stated that the money was placed in the Parking Enterprise Fund and added that Mayor and Council Communication No. L-15377 being considered at this evening's Council meeting reflected funding information, He further advised that the retail portion of the garage was originally funded with rental car revenue derived from rental car taxes; however, there was no requirement for those funds to be returned to the rental car taxes or any specific fund and therefore the recommendation was made to place the funds in the parking funds to help shore up the debt service amount, Tiustee Shingleton asked if the funds were used in the annual dispersement of the funds in the parlcing fund or if they went against the debt service for the garages, Mr. Chapa stated that the recommendation would be for the funds to go to debt setvice and that was where the annual payments would be made. CITY OF FORT WORTH, T�XAS P'ORT WORTH LOCAL D�VGLOPM�NT CORPORATION CALL�D - SP�CIAL S�SSION TUESDAY, JUN� 5, 2012 PAG�4 There being no further discussion, President Moss opened the floor for a motion. MOTION: Upon a motion made by Ttustee Singleton and seconded by Trustee Zimmennan, the Board voted unanimously 7 ayes and 0 nays, with Tiustee Espino temporarily absent and Trustee Price absent, to approve Resolution No. FWLDC-2012-07. The motion cari7ed. 7. Discussion and Consideration of Resolution Authorizing a Guaranty for a Loan from Southwest Banlc to Lancaster Corridor Redevelopment, LLC for up to $25,150,851.00 for the Lancaster Mixed-Use Project. This item was passed over. No discussion or action was taken by the Board. 8. Discussion and Consideration of Resolution Authorizing Assignment of Agreements Related to the Lancaster Mixed-Use Project t the Lancaster Corridor Redevelopment, LLC. Mr. Jay Chapa, Dii�ector, Housing and Economic Development Department, addressed the Corporation regarding the proposed resolution. Using a PowerPoint presentation entitled "Lancaster Mixed-Use Project, Assignment of Agreement", Mr, Chapa provided background on this item. (Trustee Espino assumed his place at the table.) President Moss opened the floor for discussion on this issue. There being no discussion, President Moss opened the floor for a motion. MOTION: Upon a motion made by Trustee Shingleton and seconded by Trustee Jordan, the Board voted unanimously 8 ayes and 0 nays, with Trustee Price absent, to approve Resolution No. FWLDC-2012-08, The motion carried. 9. Discussion and Consideration of a Resolution to Authorize a License Agreement to Citizens Concerned with Human Dignity for the Temporary Use of 911 E. Rosedale. Mr. Jay Chapa, Director, Housing and Economic Development Department, addressed the Corporation regarding the proposed resolution. Using a PowerPoint presentation entitled "911 E. Rosedale Juneteenth License", Mr. Chapa provided background on this event that would be held June 16-19, 2012. President Moss opened the floor for discussion on this issue. Trustee Shingleton asked if an agreement had been approved for previous events. Mr. Chapa responded that the entity had never licensed the property or leased the property previously; this was the first time. CITY OI' rORT WORTH, T�XAS I'ORT WORTH LOCAL D�V�LOPM�NT CORPORATION CALL�D - SP�CIAL S�SSION TU�SDAY, JUN� 5, 2012 PAG�S President Moss clarified that the entity had always had the event at the location but this was the first time the requested property had been included in the event, There being no further discussion, President Moss opened the floor for a motion. MOTION: Upon a motion made by Trustee Shingleton and seconded by Trustee Zimmerman, the Board voted unanimously 8 ayes and 0 nays, with Trustee Price absent, to approve Resolution No, FWLDC-2012-09. The motion carried. 10. Requests for Future Agenda Items. President Moss opened the floox on requests for future agenda items. No requests were made by Board members. 8. Adjourn. With no further discussiori, President Moss adjourned the called — special session of the Fort Worth Local Development Corporation Board at 2:23 p.m, on Tuesday, June 5, 2012. These minutes approved by the Fort Worth Housing Finance Corporation Board of Directors on the 2"a day of October, 2012. APPROVED: . �-�✓% �/%7Z� Frank Moss President ATTEST: Dennis Shingleton Secretary Prepared and respectfully submitted by, Ronald P. Gonzales, TRMC/CMC Assistant City Secretary