HomeMy WebLinkAbout2021/06/23-Minutes-Fort Worth Housing Finance Corporation (FWHFC)CITY OF FORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
WEDNESDAY, JUNE 23, 2021
Present:
Secretary Gyna M. Bivens
Director Mattie Parker
Director Carlos Flores (arrived at 1:46 p.m.)
Director Michael Crain
Director Jared Williams
Director Chris Nettles
Director Elizabeth Beck
Absent:
Director Cary Moon
Director Leonard Firestone
1. Call to Order
With a quorum present, Secretary Bivens called the meeting to order for the Board of Directors of
the Fort Worth Housing Finance Corporation (Corporation) at 1:30 p.m. on Wednesday, June 23,
2021, in the City Council Conference Room, Room 2020 (Formerly Room 290) of the Fort Worth
Municipal Building, 200 Texas Street, Fort Worth, Texas.
2. Election of Officers
Director Bivens nominated Carlos Flores to serve as the President of the Fort Worth Housing
Finance Corporation. Motion was made by Director Parker and seconded by Director Crain to
close the nominations and vote to approve Carlos Flores as the President of the Fort Worth Housing
Finance Corporation. The motion passed 6-0. (Flores, Moon and Firestone absent)
Director Bivens nominated Elizabeth Beck to serve as the Vice President of the Fort Worth
Housing Finance Corporation. Motion was made by Director Parker and seconded by Director
Crain to close the nominations and vote to approve Elizabeth Beek as the Vice President of the
Fort Worth Housing Finance Corporation. The motion passed 6-0 (Flores, Moon and Firestone
absent)
3. Approval of Minutes from Meeting Held on April 6, 2021
Motion was made by Director Bivens and seconded by Director Crain to approve the
April 6, 2021, minutes of the Corporation as presented. The motion passed 6-0 (Moon and
Firestone absent)
CITY OF FORT WORTII, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
WEDNESDAY, JUNE 23, 2021
PAGE 2 of 3
4. Written Reports
a. Unaudited Financial Statement as of May 31, 2021
b. Quarterly Investment Reort as of March 31, 2021
5. Briefing on the Cowan Place Affordable Senior Housing Development as Part of the
Multi -Year Choice Neighborhoods Implementation Grant in the Cavile Place/Historic Stop
Six Area, Authorize Related Actions, and Adopt Resolution Approving Forgivable Loans in
the Aggregate Amount of $1,475,000.00
a. Briefing on the Choice Neighborhoods Implementation Grant and Proposed Financing
in the aggregate amount of $ 1,475,000.00 for the Development of the Cowan Place
Affordable Senior Housing Development.
Amy Connolly, Assistant Director, Neighborhood Services Department presented the
staff report.
b. Briefing on Business Equity Goals for Cowan Place Affordable Senior Housing
Development.
Christina Brooks, Director of City of Fort Worth's Diversity and Inclusion Department
presented the staff report.
c. Adopt Resolution Approving Forgivable Loans to Fort Worth Affordability Inc. in the
aggregate amount of $1,475,000.00 for the Development of the Cowan Place
Affordable Senior Housing Development as Part of the Multi -Year Choice
Neighborhoods Implementation Grant in the Cavile Place/Historic Stop Six Area and
Authorize Related Actions
Motion was made by Director Bivens and seconded by Director Crain, to approve
Resolution No. FWHFC-2021-03, Approving Actions Related to the Forgivable Loans
to Fort Worth Affordability Inc. in the aggregate amount of $1,475,000.00 for the
Development of the Cowan Place Affordable Senior Housing Development as Part of
the Multi -Year Choice Neighborhoods Implementation Grant in the Cavile
Place/Historic Stop Six Area. The motion carried 7-0 (Moon and Firestone absent).
6. Adopt Resolution Authorizing Assignment of U.S. Bancorp Community Development
Corporation's entire Limited Partner Interest in the Broadmoor at Western Hills Ltd.
Limited Partnership to its affiliate USB LIHTC Fund 2021-1, LLC.
Chad LaRoque, Housing Development and Grants Manager, Neighborhood Services Department
presented the report.
CITY OF FORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
WEDNESDAY, JUNE 23, 2021
PAGE 3 of 3
Motion was made by Director Crain and seconded by Director Williams to approve Resolution no.
FWHFC-2021-04 authorizing assignment of U.S. Bancorp Community Development
Corporation's entire Limited Partner Interest in the Broadmoor at Western Hills Ltd. Limited
Partnership to its affiliate USB LIHTC Fund 2021-1, LLC. The motion carried 7-0 (Moon and
Firestone absent).
7. Executive Session
There was no Executive Session.
8. Request for Future Agenda Items
Staff was asked to provide an overview of each district's projects with the backup information for
current projects as well as for historical projects for each individual district's Director.
8. Adjourn
With no further discussion, President Carlos Flores adjourned the meeting of the Fort Worth
Housing Finance Corporation at 2:34 p.m. on Wednesday, June 23, 2021.
These minutes approved by the Fort Worth Housing Finance Corporation Board of Directors on
the P day of August, 2021.
APPROVE
Carlo lores
Presid t
Gyna M. BOvens
Secretary
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onald P. Gonzales
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