HomeMy WebLinkAbout2022/03/29-Minutes-Fort Worth Housing Finance Corporation (FWHFC)CITY OF FORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY, MARCH 29, 2022
Present:
President Carlos Flores
Vice President Elizabeth Beck
Director Mattie Parker
Director Michael D. Crain
Director Cary Moon
Director Leonard Firestone
Director Chris Nettles
Absent:
Secretary Gyna M. Bivens
Director Jared Williams
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 (Corporation) at 2:08 p.m. on Tuesday, March 29,
2022, in the City Council Conference Room, Room 2020 of the Fort Worth Municipal Building,
200 Texas Street, Fort Worth, Texas.
2. Approval of Minutes of Regular Meeting
Motion was made by Director Crain and seconded by Director Nettles to approve the
January 25, 2022, minutes of the Corporation as presented. The motion passed 7-0 (Directors
Bivens and Williams absent).
3. Written Reports
a. Unaudited Financial Statement as of January 31, 2022
There was no discussion on the report; it was for informational purposes only.
4. Consider and Adopt Resolutions for the Proposed Partnership with Palladium USA Inc.
or an Affiliate to Develop Palladium Oak Grove, an Affordable Housing Development,
Located at 840 and 1000 Oak Grove Road
Senior Assistant City Attorney Jo Ann Gunn advised the Corporation members that the four
proposed resolutions under this agenda item could be considered under one motion.
CITY OF FORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY, MARCH 29, 2022
PAGE 2 of 3
a. Briefing on the Proposed Palladium Oak Grove Project
Mr. Chad LaRoque, Housing Development Manager, provided the staff reports on the following
proposed resolutions:
b. Consider and Adopt Resolution approving an agreement with Palladium USA Inc. or an
affiliate for the development of Palladium Oak Grove and confirming and ratifying the
formation of PFW Oak Grove GP, LLC to act as the general partner of Palladium Oak
Grove, Ltd. the partnership developing, owning, and managing the development, and
approving all related actions required for the multiple family development
c. Consider and Adopt Resolution authorizing the Corporation or an affiliate to acquire land
located at 840 and 1000 Oak Grove Road for the development of Palladium Oak Grove and
enter into a long-term ground lease with Palladium Oak Grove, Ltd.
d. Consider and Adopt Resolution approving actions of the Corporation as sole member of
PFW Oak Grove GP, LLC, the general partner of the Palladium Oak Grove, Ltd., approving
all actions necessary for the financing, development, and operation of Palladium Oak
Grove
e. Consider and Adopt Resolution authorizing the Corporation or an affiliate to act as general
contractor for the development of the Palladium Oak Grove Apartments
Motion was made by Director Beck and seconded by Director Nettles to adopt Resolution Nos.
FWHFC-2022-02, FWHFC-2022-03, FWHFC-2022-04, and FWHFC-2022-05, pertaining to the
Proposed Partnership with Palladium USA Inc. or an Affiliate to Develop Palladium Oak Grove,
an Affordable Housing Development, Located at 840 and 1000 Oak Grove Road. The motion
passed 6-1 (Director Moon casting the dissenting vote; Secretary Bivens and Director Williams
absent.)
5. Executive Session:
There was no executive session.
6. Request for Future Agenda Items
Director Firestone and Vice President Beck — Revision of Affordable Housing Strategic Plan.
8. Adjourn
With no further discussion, President Flores adjourned the meeting of the Fort Worth Housing
Finance Corporation at 2:36 p.m. on Tuesday, March 29, 2022.
These minutes approved by the Fort Worth Housing Finance Corporation Board of Directors on
the 24"' day of May, 2022.
CITY OF FORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY, MARCH 29, 2022
PAGE 3 of 3
Secretary
ATTEST:
Q" X.A� �
la tte S. Goodall
Se r tary