HomeMy WebLinkAbout2017/09/26-Minutes-Fort Worth Housing Finance Corporation (FWHFC)CITY OF FORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY, SEPTEMBER 26, 2017
Present:
President Kelly Allen Gray
Vice President Jungus Jordan
Secretary Gyna M. Bivens (Arrived at 2:15 p.m.)
Director Betsy Price (Arrived at 2:04 p.m.)
Director Carlos Flores
Director Brian Byrd
Director Cary Moon
Director Dennis Shingleton
Director Ann Zadeh
1. Call to Order
With a quorum present, Vice President Allen Gray called the meeting to order for the Board of
Directors of the Fort Worth Housing Finance Corporation (Corporation) at 2:02 p.m. on
Tuesday, September 26, 2017, in the City Council Conference Room, Room 290 of the Fort
Worth Municipal Building, 200 Texas Street, Fort Worth, Texas.
2. Approval of Minutes from the Meeting Held on August 1, 2017
Motion was made by Director Jordan and seconded by Director Byrd to approve the
August 1, 2017, minutes of the Corporation as presented. The motion passed 7-0. (Directors
Price and Bivens absent.)
3. Written Reports
a. Unaudited Financial Reports through July 31, 2017.
President Allen Gray referenced the written report and opened the floor for discussion on the
report. There was no discussion on this item.
4. Presentation on the Powers and Duties of Texas Housing Finance Corporations
Ms. Vicki Ganske, Senior Assistant City Attorney, provided a PowerPoint presentation titled,
"Powers and Duties of Texas Housing Finance Corporations".
There was no action on this item; it was for informational purposes only.
5. Consider and Adopt Amendments to the Corporation's Bylaws
CITY OF FORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY, SEPTEMBER 26, 2017
PAGE 2 of 3
Ms. Vicki Ganske, Senior Assistant City Attorney, provided a PowerPoint presentation titled,
"Proposed Amendments to the Corporation's Bylaws". She provided a brief history of the
bylaws and advised the Board of the following proposed amendments:
• Increase spending authority for certain actions taken without Board approval to
$100,000.00 to match City changes.
• Increase the amount the General Manager can pay for earnest money or an option fee to
$50,000.00. (General Manager is still limited to $25,000.00 for the purchase of a parcel
of real property without Board approval.)
• Change the election of officers to August instead of July in odd -numbered years.
• Other minor changes such as new street address.
Ms. Ganske advised that if the Board approved the proposed bylaws changes, the next step
would be to obtain City Council approval for the amended bylaws. She added that, as requested
at the August 1, 2017, meeting staff would provide a presentation to the Board at the October
2017 meeting regarding the proposed policies for investments, reserves and other financial
matters.
Director Price made a motion, seconded by Director Bivens, to approve Resolution No. FWHFC-
2017-08, Approving Amendments to the Corporation's Bylaws. The motion carried 9-0.
7. Executive Session
President Allen Gray stated that she had been advised that an executive session was not
necessary on the following items:
a. Seek the advice of its attorneys concerning the following items that are exempt from
public disclosure under Article X, Section 9 of the Texas State Bar Rules, as authorized
by Section 551.071 of the Texas Government Code: (i) legal issues concerning any
current agenda item; and
b. Discuss the purchase, sale, lease or value of real property, as authorized by Section
551.072 of the Texas Government Code. 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.
8. Request for Future Agenda Items
Director Bivens requested a presentation on the City's policies pertaining to land banking.
President Allen Gray requested an update on status of airport projects.
CITY OF FORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY, SEPTEMBER 26, 2017
PAGE 3 of 3
9. Adjourn
With no further discussion, President Allen Gray adjourned the meeting of the Fort Worth
Housing Finance Corporation at 2:54 p.m. on Tuesday, September 26, 2017.
These minutes approved by the Fort Worth Housing Finance Corporation Board of Directors on
the 241h day of October, 2017.
APPROVED:
Secretary
ATTEST:
Mary J. Kays
City Secretary