HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2020-08RESOLUTION NO. FWHFC-2020-08
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION AUTHORIZING THE SALE OF ONE LOT LOCATED AT 2607
CLINTON AVENUE IN THE NORTHSIDE NEIGHBORHOOD FOR THE
DEVELOPMENT OF A SINGLE-FAMILY RESIDENCE
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, between 1998 and 2008 the Corporation acquired various residential lots
for future affordable housing development as part of its Infill Housing Development program,
and has constructed single family houses and developed subdivisions especially in targeted areas
of the City;
WHEREAS, Wade Meeker with 7 Tenten, LLC has asked to purchase 1 lot located at
2607 Clinton Avenue in the Northside Neighborhood in order to build a single family residence;
and
WHEREAS, the Board desires to approve the sale of the 1 lot to 7 Tenten, LLC for a
total amount of $16,500.00 for the purpose of single family development, with proceeds of the
sale to be used in furtherance of the Corporation's purposes.
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 1 lot more particularly described on the
attached Exhibit "A" (the "Property") to 7 Tenten, LLC for the negotiated price of
$16,500.00, 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 agreement with 7 Tenten, LLC, (ii) the deed, and (iii) the
closing statement 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.
RESOLUTION NO. FWHFC-2020-08
PAGE 2
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
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.
5. THAT this Resolution takes effect on the date of its adoption.
AND IT IS SO RESOLVED.
Adopted October 27, 2020.
FORT WORTH HOUSING FINANCE CORPORATION
By:
Kelly Allen Gray, President
RESOLUTION NO. FWHFC-2020-08
PAGE 3
EXHIBIT A
ADDRESS
LEGAL DESCRIPTION
SALES
RESERVATION
PRICE
2607 Clinton Avenue
Lot 4, Block 37, M.G. Elllis
$16,500.00
FWHFC retains
Addition, Fort Worth, Tarrant
mineral rights
County, Texas. Acct. Number
832774