HomeMy WebLinkAbout2024/01/30-Minutes-Fort Worth Housing Finance Corporation (FWHFC)CITY OF FORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY, JANUARY 30, 2024
Present:
President Carlos Flores
Secretary Gyna M. Bivens
Director Mattie Parker
Director Michael D. Crain
Director Charlie Lauersdorf
Director Jared Williams
Director Macy Hill
Director Chris Nettles
Director Alan Blaylock
Director Jeanette Martinez
Absent:
Vice President Elizabeth Beck
Staff:
Fernando Costa, Assistant City Manager
Leslie Hunt, Senior Assistant City Attorney
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 11:38 a.m. on Tuesday, January 30, 2024, 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 November 28, 2023
Motion was made by Secretary Bivens and seconded by Director Lauersdorf to approve the
November 28, 2023 meeting minutes. The motion passed on an 10-0 vote. Vice President Elizabeth
Beck was absent.
3. Written Reports
a. Investment Report as of December 31, 2023
CITY OF TORT WORTH, TEXAS
TORT WORTH HOUSING FINANCE CORPORATION
TUESDAY, JANUARY 30, 2024
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There were no questions.
b. Unaudited Financial Statement as of December 31, 2023
Discussion of this item was continued to the next meeting.
4. Consider and Adopt a Resolution Authorizing the Sale of 5 Lots (3012 Dillard Street, 5220
and 5300 Anderson Drive, 5300 Pinson, and 5328 Cottey) to Legacy Construction
Solutions, Inc., for the Construction of Affordable Housing in the Stop Six Neighborhood
for a Total Sales Price of $250,000.00
Chad LaRoque, Housing Development Manager, provided a staff report.
Motion was made by Director Bivens and seconded by Director Martinez to approve Resolution
No. FWHFC-2024-01, Authorizing the Sale of 5 Lots (3012 Dillard Street, 5220 and 5300
Anderson Drive, 5300 Pinson, and 5328 Cottey) to Legacy Construction Solutions, Inc., for the
Construction of Affordable Housing in the Stop Six Neighborhood for a Total Sales Price of
$250,000.00. The motion passed on an 10-0. Vice President Elizabeth Beck was absent.
5. Consider and Adopt a Resolution to Ratify a Corrected Amount of $3,750,000.00 for the
Forgivable Loan from the Corporation to the Fort Worth Community Land Trust
Representing an Increase of $50,000.00 to Account for $50,000.00 the Corporation Paid
to Southwestern Baptist Theological Seminary as Earnest Money for the Acquisition of
Land and Housing Units Located at 4096 Merida Avenue, 4097 Merida Avenue and 4048
McCart Avenue — Fernando Costa, General Manager of the Fort Worth Housing Finance
Corporation
Motion was made by Director Lauersdorf and seconded by Director Crain to approve Resolution
No. FWHFC-2024-02, Ratifying a Corrected Amount of $3,750,000.00 for the forgivable Loan
from the Corporation to the Fort Worth Community Land Trust Representing an Increase of
$50,000.00 to Account for $50,000.00 the Corporation Paid to Southwestern Baptist Theological
Seminary as Earnest Money for the Acquisition of Land and Housing Units Located at 4096
Merida Avenue, 4097 Merida Avenue and 4048 McCart Avenue. The motion passed on an 10-0.
Vice President Elizabeth Beck was absent.
6. Consider and Adopt a Resolution Authorizing Execution of a Contract with PFM
Financial Advisors, LLC for Financial Advisor Services in an Amount Not to Exceed
$50,000.00 to Assist Staff in Preparing a Financial Policy and Analysis Model for
Corporation Partnerships
Amy Connolly, Assistant Director, Economic Development, provided a staff report.
Motion was made by Director Crain seconded by Director Williams to approve Resolution No.
FWHFC-2024-03, Authorizing Execution of a Contract with PFM Financial Advisors, LLC for
Financial Advisor Services in an Amount Not to Exceed $50,000.00 to Assist Staff in Preparing a
Financial Policy and Analysis Model for Corporation Partnerships. The motion passed on an 10-
0. Vice President Elizabeth Beck was absent.
CITY Or TORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY, JANUARY 30, 2024
PAGE 3 of 4
7. Consider and Adopt a Resolution Indicating Awareness that Palladium USA, On Behalf
of the Palladium East Lancaster Project, Intends to Apply to TDHCA for Housing Tax
Credits in Anticipation of a Potential Partnership with the Corporation Which Would
Require Financial Review and Authorization at a Later Date
Chad LaRoque, Housing Development Manager, provided a staff report.
Motion was made by Director Martinez seconded by Director Blaylock to approve Resolution No.
FWHFC-2024-04, Indicating Awareness that Palladium USA, On Behalf of the Palladium East
Lancaster Project, Intends to Apply to TDHCA for Housing Tax Credits in Anticipation of a
Potential Partnership with the Corporation Which Would Require Financial Review and
Authorization at a Later Date. The motion passed on an 10-0. Vice President Elizabeth Beck was
absent.
8. Executive Session
There was no Executive Session.
9. Requests for Future Agenda Items
Director Bivens requested staff analyze the development process to identify barriers faced
by new and small developers and provide recommendations on ways to remove the
barriers.
10. Adjourn
With no further discussion, President Flores adjourned the meeting of the Fort Worth Housing
Finance Corporation at 11:55 a.m. on Tuesday, January 30, 2024.
These minutes approved by the Fort Worth Housing Finance Corporation Board of Directors on
the 261h day of March, 2024.
CITY OF FORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY, JANUARY 30, 2024
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ATTEST:
a ette S. Goodall
y Secretary