HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2015-19RESOLUTION NO. FWHFC-2015-19
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION AUTHORIZING THE SALE OF FIVE LOTS LOCATED AT 5514 TO
5532 SHILOH DRIVE IN THE COMO NEIGHBORHOOD TO H.O.P.E. FARM, INC.
FOR THE DEVELOPMENT OF A COMMUNITY FACILITY
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, H.O.P.E, Farm, Inc. ("HFI") mentors boys from single parent homes from
kindergarten through high school and currently operates two facilities, one in the Hillside-
Morningside neighborhood and one in the Como neighborhood. HFI has asked to purchase 5 of
the Corporation's lots located in the 5500 block of Shiloh Drive near Como Elementary School
to develop an additional facility as its current Como facility is at capacity; and
WHEREAS, the Board desires to approve the sale of the 5 lots to H.O.P.E. Farm, Inc.
for $40,000.00 for use as a community facility,
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE FORT WORTH HOUSING FINANCE CORPORATION:
I THAT the Board approves the sale of 5 lots more particularly described on the attached
Exhibit "All (the "Property") to H.O.P.E. Farm, Inc. for $40,000.00 plus the payment of
common and customary seller 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 H.O.P.E. Farm, Inc., (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 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-2015-19
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, 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 December 1, 2015.
FORT WORTH HOUSING FINANCE CORPORATION
. . ..... ....
By:
Salvador Espino, Preside t