HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2023-31RESOLUTION NO. FWHFC-2023-31
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION
APPROVING THE BUDGET FOR THE 2023-2024 FISCAL YEAR
WHEREAS, the Board of Directors of the Fort Worth Housing Finance Corporation (the
"Board"), a Texas housing finance corporation (the "Corporation"), reviewed the attached
budget proposed for the 2023-2024 fiscal year of the Corporation (the "Budget") during the
Corporation's meeting on August 22, 2023; and
WHEREAS, the Board desires to adopt the Budget as presented for the Corporation's
2023-2024 fiscal year.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE FORT WORTH HOUSING FINANCE CORPORATION:
1. THAT the Board approves the attached Budget for the Corporation's 2023-2024 fiscal
year.
2. THAT this Resolution takes effect on the date of its adoption.
AND IT IS SO RESOLVED.
Adopted August 22, 2023.
FORT WORTH HOUSING FINANCE CORPORATION
By:
Carlos Flores
President
Attest:
Jannette S. Goodall
Corporate Secretary
RESOLUTION NO. FWHFC-2023-31
PACE 2
Proposed Fort Worth Housing Finance Corporation 2023-2024 Budget
Revenues
Proposed
2023-24
Interest on Investments
$400,000
Land sales - Vacant lots
100,000
Land sales - Vacant lots - Evans -Rosedale
_
Project Cash Flow - Enclave Park
1,300,000
Developer Fees
327,090
Affordable Housing Payments
451,000
Interest on loans
33,882
Loan repayments Columbia & Mistletoe
54,310
Gas lease -Royalties
100,000
Misc. revenue
1,000
Total
$ 2,767,282
Expenditures
Transfer to City Salaries
$435,515
Office Supplies
500
Postage
50
Dues, Membership & Renewals
11,355
Conferences, Seminars, Training
20,000
Printing
500
PSH Supportive Services
183,000
Affordable Housing Project Expense
450,000
Terrell Homes -Loan
515,000
Contractual services
29,000
Property Tax -Mineral Interest
300
Professional Services
40,000
HOME Match
157,017
Audit Fees - CohnRemick
17,500
Consultant Fees
200,000
Property, Liability & D&O Insurance
5,027
Mowing HFC properties
58,004
Total Expenditures
$2,122,768
Net Contribution to Fund Balance
644,514
Total
$2,767,282