HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2023-25RESOLUTION NO. FWHFC-2023-25
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION
AUTHORIZING THE PURCHASE OF 6 TAX -FORECLOSED, SINGLE-
FAMILY LOTS FOR AFFORDABLE HOUSING FOR A TOTAL COST NOT TO
EXCEED $190,000 INCLUDING CONSTABLE DEED AMOUNT, POST -
JUDGEMENT TAXES, AND ADMINISTRATIVE FEES IN COUNCIL
DISTRICTS 2 AND 5
WHEREAS, the Fort Worth Housing Finance Corporation (the "Corporation")
seeks to foster the development of reasonably priced quality housing and promote
homeownership and neighborhood revitalization throughout the City of Fort Worth
("City") and is additionally an eligible housing development entity which assists persons
of low and moderate income in acquiring and owning quality affordable housing;
WHEREAS, the Corporation established an Infill Housing Development program
in 1996 and has constructed single family houses on individual lots and developed
subdivisions throughout the City, especially in targeted neighborhoods, as part of its
neighborhood revitalization efforts
WHEREAS, the Corporation wishes to acquire the property available through tax
foreclosure and redevelop the land for single family housing; and
WHEREAS, the subject properties for purchase are located at the following
addresses: 5017 Fitzhugh Avenue, 2803 Gould Avenue, 5916 Maceo Lane, 2522 Moore
Avenue, 2524 Moore Avenue, and 6025 Truman Drive;
WHEREAS, the subject properties are located in Council Districts 2 and 5;
WHEREAS, the Board finds that as part of its Infill Housing Development
Program, it is necessary to purchase 6 subject real properties for housing development.
NOW THEREFORE, LET IT BE RESOLVED BY THE BOARD OF
DIRECTORS OF THE FORT WORTH HOUSING FINANCE CORPORATION:
1. THAT the Board approves the purchase from the City of Fort Worth of the real
property commonly known as: 5017 Fitzhugh Avenue, 2803 Gould Avenue, 5916
Maceo Lane, 2522 Moore Avenue, 2524 Moore Avenue, and 6025 Truman Drive
all in Fort Worth, Texas for an amount not to exceed $190,000 including constable
deed amount, post judgement taxes and administrative fees.
2. THAT the Board approves the execution and delivery of the sale and purchase
agreement for the acquisition of the properties, the acceptance of the deeds, and the
execution and delivery of the closing statements and any other related documents
necessary to complete the purchase the properties.
RESOLUTION NO. FWHFC-2023-25
PAGE 2
3. THAT Fernando Costa, General Manager of the Corporation, or Victor Turner,
Assistant General Manager of the Corporation, are authorized to execute and
deliver the sales and purchase contracts for the acquisition of the properties, accept
delivery of the deeds and execute the closing statements for and on behalf of the
Corporation along with any related documents necessary to purchase the properties.
4. THAT this Resolution takes effect from the date of its adoption.
AND IT IS SO RESOLVED.
Adopted June 27, 2023.
FORT WORTH HOUSING FINANCE CORPORATION
B
Carlos Flores
President
Attest:
Jannette S. Goodall
Corporate Secretary