HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2016-09RESOLUTION NO. FWHFC-2016-09
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION
TO HIRE JOHN C. SHACKLEFORD AS LEGAL COUNSEL FOR THE
CORPORATION FOR THE DEVELOPMENT OF A MIXED INCOME
MULTIFAMILY DEVELOPMENT TO BE LOCATED AT 904 E.
WEATHERFORD STREET
WHEREAS, the City Council of the City of Fort Worth (the "City") created the
Fort Worth Housing Finance Corporation (the "Corporation") in 1979 pursuant to the
Texas Housing Finance Corporation Act to facilitate the development of decent, safe
quality, affordable, and accessible housing for low and moderate income City residents
through lending and construction activities;
WHEREAS, on March 3, 2015, the Board of the Corporation approved a contract
with the City for $2,200,000.00 in Community Development Block Grant ("CDBG")
funds in the form of a forgivable loan to acquire a 2.623 acre tract of land, more or less,
commonly known as 904 E. Weatherford Street from the Fort Worth Transportation
Authority for the development of a mixed income multifamily rental development
including affordable units, permanent supportive housing units, and market rate units;
WHEREAS, in order to represent the Corporation's interests in the development,
financing, construction, and management of the project, it is advisable to obtain outside
counsel with experience and special expertise in multifamily projects along with the
preparation of necessary documents and advising on any other related issues; and
WHEREAS, the Board desires to hire John C. Shackelford as legal counsel to
assist the Corporation in connection with the multifamily development to be located at
904 E. Weatherford Street.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF
DIRECTORS OF THE FORT WORTH HOUSING FINANCE CORPORATION:
1. THAT the Board approves the hiring of John C. Shackelford, Shackelford, Melton
& McKinley, LLP, as legal counsel for the Corporation in connection with the
multifamily development to be located at 904 E. Weatherford Street.
2. THAT the Board approves the payment of attorney's fees not to exceed
$35,000.00 for the project.
3. THAT the Board approves the execution and delivery of an engagement letter for
legal services.
RESOLUTION NO. FWBFC-2016-09
PAGE 2
4. THAT Fernando Costa, General Manager of the Corporation, or Aubrey Thagard,
Assistant General Manager of the Corporation, or their duly appointed successors,
are each authorized to execute and deliver the engagement letter for and on behalf
of the Corporation along with any related documents necessary to engage John C.
Shackelford, Shackelford, Melton & McKinley, LLP, as outside counsel for the
project.
5. THAT this Resolution takes effect from the date of its adoption.
AND IT IS SO RESOLVED.
Adopted February 2, 2016.
FORT TH HOUSING FINANCE CORPORATION
By:
Ronald P. Gonzales, A si ant Secretary