HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2014-10RESOLUTION NO. FWHFC-2014-10
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION
TO HIRE JOHN C. SHACKLEFORD AS LEGAL COUNSEL FOR THE
CORPORATION AND ENCLAVE ALLIANCE GP, LLC FOR THE
DEVELOPMENT OF THE ENCLAVE AT ALLIANCE 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, RHS HIS, LLC doing business as Integrated Housing Solutions,
LLC ("Integrated"), a Texas limited liability company, is a developer of affordable and
market rate multifamily housing and has developed over 4,000 affordable housing units
in Texas since 2003
WHEREAS, the Board of the Corporation has approved certain agreements with
Integrated for the development of the Enclave at Alliance, a mixed income multifamily
rental project located at the corner of Westport Parkway and Alta Vista Road (the
"project");
WHEREAS, the Corporation will create Enclave Alliance GP, LLC, a Texas
limited liability company and single purpose entity (the "Company"), to be the general
partner of Enclave Alliance, LP, the Texas limited partnership (the "Partnership") to be
created by Integrated and the Corporation to construct, own and manage the project and
has agreed to undertake certain other activities in connection with the development and
management of the project;
WHEREAS, the Corporation will be the Sole Member of the Company, and
empowered to act on its behalf,
WHEREAS, in order to represent the Corporation'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 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 and the Company in connection with the development of the
Enclave at Alliance.
RESOLUTION NO. FWHFC-2014-10
PAGE 2
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 and the Company in
connection with the development of the Enclave at Alliance.
2. THAT the Board approves the payment of attorney's fees of $75,000.00 for the
project.
3. THAT the Board approves the execution and delivery of an engagement letter
with John C. Shackelford, Shackelford, Melton & McKinley, LLP, for legal
services.
4. THAT Tom Higgins, General Manager of the Corporation, or Jesus C. Chapa,
Assistant General Manager of the Corporation, are authorized to execute and
deliver the engagement letter for and on behalf of the Corporation and the
Company along with any related documents necessary to engage John C.
Shackelford, Shackelford, Melton & McKinley, LLP, as outside counsel.
5. THAT this Resolution takes effect from the date of its adoption.
AND IT IS SO RESOLVED.
Adopted May 6, 2014.
FORT WORTH HOUSING FINANCE CORPORATION
By: 0 01
Salvador Espino,