HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2016-29RESOLUTION NO. FWHFC-2016-29
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION HIRING JOHN C. SHACKLEFORD AS LEGAL COUNSEL
FOR THE CORPORATION, ENCLAVE PARK, LP, AND ENCLAVE PARK GP,
LLC FOR THE DEVELOPMENT OF THE ENCLAVE AT THE PARK
APARTMENTS
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, the Board of the Corporation has approved certain agreements with
RHS HIS, LLC doing business as Integrated Housing Solutions, LLC ("Integrated"), a
Texas limited liability corporation, for the development of the Enclave at the Park
Apartments, mixed income multifamily housing development (the "project");
WHEREAS, Enclave Park GP, LLC (the "Company"), a Texas limited liability
company and single purpose entity, will be created to be the general partner of Enclave
Park, LP (the "Partnership"), the Texas limited partnership to be created to construct,
own and manage the project and Integrated has agreed to undertake certain other
activities in connection with the development and management of the project;
WHEREAS, the Corporation has agreed to be the Sole Member of the Company
and is empowered to act on its behalf,
WHEREAS, the project consists of a new 308-unit mixed income multifamily
housing development to be located in the 300 block of Golden Triangle Boulevard and
will be known as the Enclave at the Park Apartments;
WHEREAS, in order to represent the Corporation's, the Partnership's and the
Company'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
mixed income multifamily projects along with the preparation of necessary documents
and advising on any other related issues; and
WHEREAS, the Board desires to approve hiring John C. Shackelford as legal
counsel to assist the Corporation, the Partnership and the Company in connection with
the development of the Enclave at the Park Apartments.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF
DIRECTORS OF THE FORT WORTH HOUSING FINANCE CORPORATION:
RESOLUTION NO. FWHFC-2016-29
PAGE 2
1. THAT the Board approves the hiring of John C. Shackelford, Shackelford, Melton
& McKinley, LLP, as legal counsel for the Corporation, the Partnership and the
Company in connection with the development of the project.
2. THAT the Board approves the payment of attorney's fees of $60,000.00 for the
project.
3. THAT the Board approves the execution and delivery of an engagement letter for
legal services.
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, the Partnership and the Company along with any related
documents necessary to engage John C. Shackelford, Shackelford, Melton &
McKinley, LLP, as outside counsel.
THAT this Resolution takes effect from the date of its adoption.
AND IT IS SO RESOLVED.
ADOPTED September 27, 2016.
FORT WO TH HOUSING FINANCE CORPORATION
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By: xt c /
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onald P. Gonzales, Assi4At Secretary