HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2012-01RESOLUTION NO. FWHFC-2012-01
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION APPROVING A CONTRACT WITH THE FORT
WORTH HOUSING AUTHORITY FOR $200,000 TO CREATE A
DEVELOPMENT PLAN FOR THE J.A. CAVILE PLACE
ADDITION APARTMENTS AND THE CAVILE PLACE
NEIGHBORHOOD
WHEREAS, the City Council of the City of Fort Worth ("City") has adopted
development and revitalization of the City's affordable housing stock as a strategic goal
and City citizens and the City Council have determined that quality, accessible,
affordable housing is needed for moderate, low and very low income City citizens;
WHEREAS, the City Council established the Fort Worth Housing Finance
Corporation (the "Corporation") in 1979 pursuant to Chapter 394, Texas Local
Government Code, to facilitate housing initiatives in the City, including but not limited to
issuing tax exempt bonds, developing and promoting housing, and assisting low to
moderate income City citizens in acquiring quality, accessible, affordable housing
through lending and construction activities;
WHEREAS, the Housing Authority of the City of Fort Worth, commonly lcnown
as the Fort Worth Housing Authority ("FWHA"), owns and operates the J.A. Cavile
Place Addition Apartments located at 1401 Etta off East Rosedale Street in East Fort
Worth in the Cavile Place neighborhood;
WHEREAS, the Board was infoimed on February 8, 2011 that the FWHA had
requested tliat the Corporation partner with it to develop a plan for the revitalization of
the apartments and the surrounding Cavile Place neighborhood which would be included
in its applications for available grants for the project. Grant funds fiom various federal
government programs, including the HOPE VI grant program, as well as other sources,
are available to assist with the redevelopinent of public housing and surrounding
neighborhoods;
WHEREAS, the Corporation and the City together own 117 propei-ties in the
study area which is bounded on the north by Old Handley Road, on the west by
Edgewood Terrace, on the south by Ramey Avenue and on the east by Stalcup Road;
WHEREAS, the FWHA has selected a consultant to prepare a plan for the
revitalization of the neighborhood to be developed with input from neighborhood
residents and other stalceholders, which will include strategies to create commercial and
residential development as well as other social services;
WHEREAS, the Board desires to approve and accept a contract with the FWHA
for $200,000 for payment of a poi-tion of the cost of a redevelopment plan for the J. A.
Cavile Place Addition Apartments and the Cavile Place neighborhood.
RESOLUTION NO. rwxrc-Zoi2-oi
PAGE 2 �
NOW THEREFORE, BE RESOLVED BY TAE BOARD OF DIRECTORS
OF THE I'ORT WORTH HOUSING FINANCE CORPORATION:
1. THAT the Board approves the execution and delivery of a contract ("Contract")
by and between the Housing Authority of the City of Fort Worth, coinmonly
lcnown as the Fort Worth Housing Authority ("FWHA"), and the Corporation for
$200,000.00 to pay a portion of the cost of a redevelopment plan for the J. A.
Cavile Place Addition Apartments and the Cavile Place neighborhood.
2. THAT Tom Higgins, General Manager of the Corporation, or Jesus Chapa,
Assistant General Manager of the Corporation, are authorized to execute and
deliver the Contract for and on behalf of the Corporation and any related
documents necessary to implement the Contract, and each may extend, modify
and amend the Contract, provided any such extensions, modifications and
amendments are in compliance with the goals and purposes of the Corporation as
ainended from time to time. �
3. THAT this Resolution takes effect on the date of its adoption.
AND IT IS SO RESOLVED.
Adopted January 10, 2012.
FORT WORTH HOUSING FINANCE CORPORATION
By: �����1-�� �. ��� � ��� �
Kathleen Hicics, President