HomeMy WebLinkAbout2019/11/05-Minutes-Fort Worth Housing Finance Corporation (FWHFC)CITY OF FORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY, NOVEMBER 5, 2019
Present:
President Kelly Allen Gray
Vice President Jungus Jordan
Secretary Gyna M. Bivens
Director Carlos Flores
Director Brian Byrd
Director Cary Moon
Director Dennis Shingleton
Director Ann Zadeh
Absent:
Director Betsy Price
1. Call to Order
With a quorum present, President Allen Gray called the meeting to order for the Board of
Directors of the Fort Worth Housing Finance Corporation (Corporation) at 2:30 p.m. on
Tuesday, November 5, 2019, 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 Meeting Held on October 15, 2019
Motion was made by Director Shingleton and seconded by Director Bivens to approve the
October 15, 2019, minutes of the Corporation as presented. The motion passed 8-0 (Director
Price absent).
3. Written Reports
a. Unaudited Financial Statements as of September 30, 2019
4. Presentation on the Corporation's Investment Policy and Strategy
Mr. Reginald Zeno, Treasurer, provided background of various loans the Corporation has
undertaken and history of the various statements. He added that the Corporation was very
limited in its investment options and those options were very conservative. He stated that the
only option potentially in the future would be CDs as current CD rates are lower than even the
ideal savings accounts. He advised that there was a need for the HFC staff to engage in
preparing a 5-year plan of revenue and expenses and then look at potentially investing in CDs
over a slightly longer term at a different rate environment.
CITY OF FORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY, NOVEMBER 5, 2019
PAGE 2 of 2
5. Executive Session
There was no Executive Session.
6. Request for Future Agenda Items
There were no requests for future agenda items.
7. Adjourn
With no further discussion, President Allen Gray adjourned the meeting of the Fort Worth
Housing Finance Corporation at 2:37 p.m. on Tuesday, November 5, 2019.
These minutes approved by the Fort Worth Housing Finance Corporation Board of Directors on
the 4t' day of February, 2019.
Gyna M. nivens
Secretary
ATTEST:
Mary J. KWr
Secretary