The URL can be used to link to this page

Home My WebLink About2023/04/25-Minutes-Fort Worth Housing Finance Corporation (FWHFC)CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION TUESDAY, APRIL 25, 2023 Present: President Carlos Flores Vice President Elizabeth Beck Secretary Gyna M. Bivens Director Michael D. Crain Director Alan Blaylock Director Jared Williams Director Leonard Firestone Director Chris Nettles Absent: Director Mattie Parker Staff: Fernando Costa, Assistant City Manager Denis McElroy, Senior Assistant City Attorney Victor Turner, Assistant General Manager (Absent) Reginald Zeno, Treasurer (Absent) Jannette S. Goodall, City Secretary 1. Call to Order With a quorum present, President Flores called the meeting to order for the Board of Directors of the Fort Worth Housing Finance Corporation at 12:10 p.m. on Tuesday, April 25, 2023, in the City Council Conference Room, Room 2020 of the Fort Worth Municipal Building, 200 Texas Street, Fort Worth, Texas. 2. Approval of Minutes a. Regular Meeting Held on February 28, 2023 Motion was made by Secretary Bivens and seconded by Vice President Beck to approve the February 28, 2023, meeting minutes. The motion passed on a 6-0 vote. Directors Firestone and Williams were off the dais. Director Parker was absent. 3. Written Reports a. Quarterly Investment Report as of March 31, 2023 b. Update on Tobias Place Development CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION TUESDAY, APRIL 25, 2023 PAGE 2 of 4 c. Update on Evans & Rosedale Redevelopment There was no discussion on the reports; they were for informational purposes only. 4. Consider and Adopt a Resolutions Authorizing the Sale of Corporation Land — Leah Brown a. Sale of a vacant lot at 2710 Avenue C to MPI Group Developments LLC for the construction of seven (7) affordable single-family attached townhomes in the Polytechnic Heights Neighborhood for a sales price of $70,000.00. b. Sale of vacant lots at 921 E. Humbolt Street, 1115 E. Humbolt Street, and 969 E. Pulaski Street in the Historic Southside neighborhood and 919 E. Maddox and 1401 Illinois Avenue in the Hillside-Morningside neighborhood to Sol Development LP for the construction of five (5) affordable single-family detached housing for a total sales price of $50,000.00. Motion was made by Vice President Beck and seconded by Director Nettles to approve Resolution Nos. FWHFC-2023-12 and FWHFC-2023-13, authorizing the Sale of Corporation Land. The motion passed on an 8-0 vote. Director Parker was absent. 5. Consider and Adopt to Resolution Authorizing Forgivable, Subordinate Loans for the Development of Affordable Housing and Permanent Supportive Housing at 8401 West Freeway in the Las Vegas Trail Neighborhood — Tara Perez a. Loan in the amount of $500,000.00 to The Housing Authority of the City of Fort Worth d/b/a Fort Worth Housing Solutions or an affiliate for the development of affordable housing for homeless families at Casa de los Suenos, a 55-unit redevelopment of a former motel at 8401 West Freeway. Motion was made by Director Crain and seconded by Secretary Bivens to approve Resolution No. FWHFC-2023-14, Authorizing Forgivable, Subordinate Loans for the Development of Affordable Housing and Permanent Supportive Housing at 8401 West Freeway in the Las Vegas Trail Neighborhood. The motion passed on an 8-0 vote. Director Parker was absent. 6. Consider and Adopt Resolutions for the Proposed Partnership with OPG CR Managers, LLC, or an Affiliate of Overland Communities Group, to Develop Clifton Riverside, a Proposed 94-Unit Tax -Exempt Affordable Housing Development, Located at 2406 and 2412 East Belknap within the Six Points Urban Village — Amy Connolly a. Briefing on the proposed Clifton Riverside Development b. Consider and Adopt Hiring Shackelford, Bowen, McKinley, & Norton LLP as Legal Counsel for the Corporation and a General Partner Entity (Clifton Riverside GP) which would be owned by the corporation for the negotiation of terms for the partnership, to advise regarding the formation of the partnership, and other deal -related matters, including the development of the Clifton Riverside Development located at 2406 and 2412 East Belknap, Fort Worth CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION TUESDAY, APRIL 25, 2023 PAGE 3 of 4 c. Consider and Adopt a Resolution approving an agreement with OPG CR Managers, LLC (or an affiliate) for the development of Clifton Riverside and confirming and ratifying the formation of Clifton Riverside GP to act as the general partner of OPG Clifton Riverside Partners, LP, the partnership developing, owning, and managing the development, and approving all related actions required for this multiple family development d. Consider and Adopt a Resolution authorizing the Corporation or an affiliate to acquire land located at 2406 and 2412 East Belknap for the development of Clifton Riverside Apartments and enter into a long-term ground lease with OPG Clifton Riverside Partners, LP e. Consider and Adopt a Resolution approving the actions of the Corporation as sole member of Clifton Riverside GP, the general partner of OPG Clifton Riverside Partners, LP, and all other actions necessary for the financing, development, and operation of the Clifton Riverside development Motion was made by Director Crain and seconded by Director Nettles to approve Resolution Nos. FWHFC-2023-15, FWHFC-2023-16, FWHFC-2023-17, and FWHFC-2023-18, Resolutions for the Proposed Partnership with OPG CR Managers, LLC, or an Affiliate of Overland Communities Group, to Develop Clifton Riverside, a Proposed 94-Unit Tax -Exempt Affordable Housing Development, Located at 2406 and 2412 East Belknap within the Six Points Urban Village. The motion passed on an 8-0 vote. Director Parker was absent. 7. Consider and Adopt Resolutions for the Proposed Partnership with Northill Manor HP, LLC (or an Affiliate of Horizon ELOM Holdings), and Merchants Capital Investments, LLC, to Rehabilitate, Own, and Operate Northill Manor, an Existing, Affordable 4% Multiple Family Housing Development Proposed to be Tax -Exempt, Located at 3625 Kearny Avenue in the Far Greater Northside Historical Neighborhood - Amy Connolly a. Briefing on the proposed Northill Manor Rehabilitation Project b. Consider and Adopt Hiring Shackelford, Bowen, McKinley, & Norton LLP as Legal Counsel for the Corporation and a General Partner Entity (Northill Manor Housing Partners, LLC) to be owned by the Corporation, for the negotiation of terms for the partnership, to advise regarding the formation of the partnership, and other deal -related matters for the rehabilitation of Northill Manor located at 3625 Kearny Avenue, Fort Worth c. Consider and Adopt a Resolution approving an agreement with Northill Manor HP, LLC (or an affiliate of Horizon Elom Holdings) and Merchants Capital Investments, LLC for the rehabilitation of Northill Manor and confirming and ratifying the formation of Northill Manor Housing Partners, LLC the general partner of the Northill Manor Housing Partners, LP, the partnership rehabilitating, owning, and managing Northill Manor, and approving all related required actions d. Consider and Adopt Resolution authorizing the Corporation or an affiliate to acquire land located at 3625 Kearny Avenue for the rehabilitation of Northill Manor and enter into a long-term ground lease with Northill Manor Housing Partners, LP or an affiliate e. Consider and Adopt a Resolution approving the action of the Corporation as sole member of Northill Manor Housing Partners, LLC, the general partner of Northill CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION TUESDAY, APRIL 25, 2023 PAGE 4 of 4 Manor Housing Partners, LP approving all actions necessary for the financing, rehabilitation, and operation of Northill Manor Motion was made by Director Nettles and seconded by Director Crain to approve Resolution Nos. FWHFC-2023-19, FWHFC-2023-20, FWHFC-2023-21, and FWHFC-2023-22, Resolutions for the Proposed Partnership with Northill Manor HP, LLC (or an Affiliate of Horizon ELOM Holdings), and Merchants Capital Investments, LLC, to Rehabilitate, Own, and Operate Northill Manor, an Existing, Affordable 4% Multiple Family Housing Development proposed to be Tax - Exempt, Located at 3625 Kearny Avenue in the Far Greater Northside Historical Neighborhood. The motion passed on an 8-0 vote. Director Parker was absent. 8. Executive Session There was no Executive Session. 9. Requests for Future Agenda Items There were no requests for future agenda items. 10. Adjourn With no further discussion, President Flores adjourned the meeting of the Fort Worth Housing Finance Corporation at 12:31 p.m. on Tuesday, April 25, 2023. These minutes approved by -the Fort Worth Housing Finance Corporation Board of Directors on the Q3 day of / tag , 2023. APPROVE Carl Flores Pre ' nt JO" �A yna X4. Oivens Secretary ATTEST: nette S. Goodall C ty Secretary