HomeMy WebLinkAbout2023/06/27-Minutes-Fort Worth Housing Finance Corporation (FWHFC)CITY OF FORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY, DUNE 27, 2023
Present:
President Carlos Flores
Vice President Elizabeth Beck
Secretary Gyna M. Bivens
Director Mattie Parker
Director Charlie Lauersdorf
Director Jared Williams
Director Macy Hill (Virtual)
Director Chris Nettles
Director Jeanette Martinez
Absent:
Director Michael D. Crain
Director Alan Blaylock
Staff:
Fernando Costa, Assistant City Manager
Denis McElroy, Senior Assistant City Attorney
Leslie Hunt, Senior Assistant City Attorney
Victor Turner, Assistant General Manager
Reginald Zeno, Treasurer
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 5:25 p.m. on Tuesday, June 27, 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 May 23, 2023
Motion was made by Director Beck and seconded by Director Lauersdorf to approve the May 23,
2023, meeting minutes. The motion passed on an 8-0 vote. Director Hill was off the dais. Directors
Crain and Blaylock were absent.
CITY OF TORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY, JUNE 27, 2023
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3. Written Reports
a. Unaudited Financial Statements as of May 31, 2023
There was no discussion on the report; they were for informational purposes only.
4. Consider and Adopt Resolution Authorizing the Purchase of Six (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 - Amy Connolly
Amy Connolly, provided a staff report.
Motion was made by Director Bivens and seconded by Director Williams to approve Resolution
No. FWHFC-2023-25, authorizing the Purchase of Six (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. The motion passed
on an 8-0 vote. Director Hill was off the dais. Directors Crain and Blaylock were absent.
5. Consider and Adopt Resolution for the Proposed Partnership with Think Housing
Development, LLC or an Affiliate to Rehabilitate, Own, and Operate Marine Park, an
Existing, Affordable Multiple Family Housing Development proposed to be Tax -
Exempt, Located at 3144 NW 33rd Street in the Far Greater Northside Historical
Neighborhood — Chad LaRoque
a. Briefing on the proposed Marine Park Rehabilitation Project — Chad LaRoque
b. Resolution Hiring Shackelford, Bowen, McKinley, & Norton LLP as Legal Counsel for the
Corporation and a Managing Member Entity (Marine Park 34 MM, 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 Marine
Park located at 3144 NW 33rd Street, Fort Worth
c. Resolution approving an agreement with Marine Park 34 SM, LLC (or an affiliate of Think
Housing Development, LLC) for the rehabilitation of Marine Park and confirming and
ratifying the formation of Marine Park 34 MM, LLC the managing member of the Marine
Park 34, LLC, the company rehabilitating, owning, and managing Marine Park, and
approving all related required actions
d. Resolution authorizing the Corporation or an affiliate to acquire land located at 3144 NW.
33rd Street for the rehabilitation of Marine Park and enter into a long-term ground lease with
Marine Park 34, LLC or an affiliate
e. Resolution approving the action of the Corporation as majority owner of Marine Park 34
MM, LLC, the managing member of Marine Park 34, LLC, and approving all actions
necessary for the financing, rehabilitation, and operation of Marine Park
Motion was made by Director Lauersdorf and seconded by Director Beck to approve Resolution
Nos. FWHFC-2023-26, FWHFC-2023-27, FWHFC-2023-28, and FWHFC-2023-29, pertaining to
CITY OF FORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY, JUNE 27, 2023
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the Proposed Marine Park Rehabilitation Project. The motion passed on an 8-0 vote. Director Hill
was off the dais. Directors Crain and Blaylock were absent.
7. Executive Session: The Board of Directors of the Fort Worth Housing Finance
Corporation may conduct a closed meeting to:
President Flores convened the Executive Session at 5:31 p.m.
a. Seek the advice of its attorney about pending or contemplated litigation, settlements offers,
or any matter in which the duty of the attorney for the Fort Worth Housing Finance
Corporation under the Texas Disciplinary Rules of Professional Conduct of the State Bar
of Texas clearly conflicts with the Texas Open Meetings Act [Tex. Govt. Code §551.071]:
(i) Legal issues concerning any agenda item;
b. Discuss the purchase, sale, lease or value to real property, as authorized by Section 551.072
of the Texas Government Code, where deliberation in an open meeting would have a
detrimental effect on the position of the Corporation in negotiations with a third party; and
c. Discuss or deliberate negotiations relating to any economic development negotiations, as
authorized by Section 551.087 of the Texas Government Code.
President Flores adjourned the executive session at 5:37 p.m.
President Flores reconvened the regular session of the Housing Finance Corporation meeting at:
5:37 p.m.
6. Consider and Adopt a Resolution Approving and Authorizing a Loan in an Amount Not
to Exceed $650,000 to be Made Utilizing Previously Generated Cash Flow from the Terrell
Homes Project to Ensure the Continuing Operations and Financial Strength of Terrell
Homes, a 54-unit Scattered -site, Single Family Affordable Housing Development within
the Historic Southside Neighborhood — Amy Connolly
Motion was made by Director Lauersdorf and seconded by Director Martinez to approve
Resolution No. FWHFC-2023-30, Approving and Authorizing a Loan in an Amount Not to Exceed
$650,000 to be Made Utilizing Previously Generated Cash Flow from the Terrell Homes Project
to Ensure the Continuing Operations and Financial Strength of Terrell Homes, a 54-unit Scattered -
site, Single Family Affordable Housing Development within the Historic Southside
Neighborhood. The motion passed on an 8-0 vote. Director Hill was off the dais. Directors Crain
and Blaylock were absent.
8. Requests for Future Agenda Items
There were no requests for future agenda items.
CITY OF FORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY, JUNE 27, 2023
PAGE 4 of 4
9. Adjourn
With no further discussion, President Flores adjourned the meeting of the Fort Worth Housing
Finance Corporation at 5:41 p.m. on Tuesday, June 27, 2023.
These minutes approved by the Fort Worth Housing Finance Corporation Board of Directors on
the 22 day of August, 2023.
APPROVE
Carlos Flores
President
�-tA-)L 4
Gyna M. Bivens
Secretary
ATTEST:
ette S. Goodall
i y Secretary