HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2016-13RESOLUTION NO. FWHFC-2016-13
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION APPROVING THE SALE OF 804 KENTUCKY AVENUE TO
GERALD VILLAREAL FOR RESIDENTIAL USE
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, Gerald Villareal has asked to purchase one of the Corporation's vacant lots
located at 804 Kentucky Avenue in the Evans -Rosedale neighborhood to add to the square
footage of the adjacent lot which he owns and on which he lives;
WHEREAS, the Corporation's single family infill policy allows the sale of single family
lots to individuals to enlarge the lot size of adjoining property; and
WHEREAS, the Board desires to approve the sale of 804 Kentucky Avenue to Gerald
Villareal for $5,250.00 for residential use.
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 804 Kentucky Avenue (the "Property") more
particularly described on the attached Exhibit "A" to Gerald Villareal for $5,250.00.
2. THAT the Board approves the execution and delivery of the following for the sale of the
Property: (i) sale and purchase agreement with Gerald Villareal, (ii) the deed, and (iii) the
closing statement and any other related documents necessary to complete the sale of the
Property (the "Closing Documents").
THAT Fernando Costa, General Manager of the Corporation, or Aubrey Thagard,
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-2016-13
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, Aubrey Thagard, 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 June 7, 2016.
FORT WORTI1 HOUSING FINANCE CORPORATION
Kelly Illen Gray, Vice
RESOLUTION NO. FWHFC-2016-13
PAGE 3
PROPERTY ADDRESS
804 Kentucky Avenue
1A r :ems:
LEGAL DESCRIPTION
Lots 14B and 15B, Block 5,
Alford and Veals Addition,
situated in the City of Fort
Worth, Tarrant County, Texas
and located within the Fort
Worth Independent School
District, (018813) as shown by a
Deed of Record in Volume
1916, Page 412 of the Deed
Records of Tarrant County,
Texas