HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2023-04RESOLUTION NO. FWHFC—2023-04
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION AUTHORIZING THE SALE OF TWO LOTS LOCATED AT 5240
WOOTEN DRIVE AND 5250 WONDER DRIVE IN THE WEDGWOOD SQUARE
NEIGHBORHOOD TO THE FORT WORTH AREA HABITAT FOR HUMANITY, INC.
FOR THE DEVELOPMENT OF A SINGLE-FAMILY RESIDENCES
WHEREAS, the Fort Worth Housing Finance Corporation (the "Corporation") seeks to
promote homeownership and neighborhood revitalization throughout the City of Fort Worth
("City") and foster the development of quality, accessible, affordable housing for low- and
moderate -income individuals and families;
WHEREAS, in 2010 the Corporation acquired these lots for future affordable housing
development as part of its Land Banking program, and has constructed single family houses and
developed subdivisions especially in targeted areas of the City;
WHEREAS, the Fort Worth Area Habitat for Humanity, Inc., requested to purchase 2 lots
located at 5240 Wooten Drive and 5250 Wonder Drive in the Wedgwood Square Neighborhood
in order to build owner -occupied, single-family senior residences; and
WHEREAS, the Board desires to approve the sale of the 2 lots to the Fort Worth Area
Habitat for Humanity, Inc., for a total amount of $250,000.00 for the purpose of single-family
housing development.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE FORT WORTH HOUSING FINANCE CORPORATION:
1. THAT the Board approves the sale of the 2 lots more particularly described on the attached
Exhibit "A" (the "Property") to the Fort Worth Area Habitat for Humanity, Inc., for the
negotiated price of $250,000.00, plus the payment by the buyer of all closing costs.
2. THAT the Board approves the execution and delivery of the following for the sale of the
Property: (i) sale and purchase agreements with the Fort Worth Area Habitat for Humanity,
Inc., (ii) related deeds, and (iii) closing statements and any other related documents
necessary to complete the sale of the Property (the "Closing Documents").
3. THAT Fernando Costa, General Manager of the Corporation, or Victor Turner, Assistant
General Manager, or their duly appointed successors, are each authorized to execute and
deliver the Closing Documents for and on behalf of the Corporation along with any related
documents necessary to sell the Property.
4. THAT to the extent any actions to sell the Property authorized by this Resolution have
already been taken by the Corporation, Fernando Costa, Victor Turner, or any other
RESOLUTION NO. FWHFC-2023-04
PAGE 2
representative or agent of the Corporation, the Board hereby ratifies and confirms such
actions as the valid actions of the Corporation, effective as of the date such action was
taken.
THAT this Resolution takes effect on the date of its adoption.
AND IT IS SO RESOLVED.
D.
Adopted January 28, 2023.
FORT WORTH HOUSING FINANCE CORPORATION
By.
Flores
President
Attest:
Jannette S. Goodall
Corporate Secretary
RESOLUTION NO. FWHFC-2023-04
PAGE 3
EXHIBIT A
ADDRESS
LEGAL DESCRIPTION
SALES
RESERVATION
PRICE
5240 Wooten Drive
WEDGWOOD ADDITION
$100,000.00
FWHFC retains
Block 21 Lot CIA & C2A
mineral rights
5250 Wonder
WEDGWOOD ADDITION
$150,000.00
FWHFC retains
Drive
Block 20 Lot D
mineral rights