HomeMy WebLinkAbout2024/04/23-Minutes-Fort Worth Housing Finance Corporation (FWHFC)CITY OF FORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY, APRIL 23, 2024
Present:
President Carlos Flores
Vice President Elizabeth Beck
Secretary Gyna M. Bivens
Director Mattie Parker
Director Michael D. Crain
Director Charlie Lauersdorf
Director Jared Williams
Director Macy Hill
Director Alan Blaylock
Director Jeanette Martinez
Absent:
Director Chris Nettles
Staff:
Fernando Costa, Assistant City Manager
Denis McElroy, Senior Assistant City Attorney
Leslie Hunt, Senior Assistant City Attorney
Reginald Zeno, Treasurer
Katherine Cenicola, Administrative Services Manager
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 11:17 a.m. on Tuesday, April 23, 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 March 26, 2024
Motion was made by Secretary Bivens and seconded by Director Hill to approve the March 26,
2024, meeting minutes. The motion passed on an 10-0 vote. Director Nettles was absent.
3. Written Reports
Quarterly Investment Report as of March 31, 2024
CITY OF FORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY, APRIL 23, 2024
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b. Unaudited Financial Statement as of March 31, 2024
There was no discussion on the written reports; they were for informational purposes only.
4. Consider and Adopt Resolution for the Proposed Partnership with Palladium USA (or an
affiliate of Palladium USA) for Development of Palladium East Lancaster Apartments, a
Proposed 243 Unit Tax -Exempt Affordable Housing Development Located at 4909 & 5003
E. Lancaster Avenue and 4900 and 4808 Norma Street within the Central Meadowbrook
Neighborhood — Chad LaRoque, Housing Development Manager
a. Briefing on the proposed Palladium East Lancaster Development.
Chad LaRoque, Housing Development Manager, provided a staff report on agenda items 04f.
b. Resolution hiring Shackelford, Bowen, McKinley, & Norton LLP as legal counsel for
the Corporation and for a general partner entity (PFW E Lancaster Avenue GP, LLC) to
be owned and/or operated by the Corporation, for the negotiation of terms for the
partnership, to advise regarding the formation of the partnership, and other deal -specific
matters
Motion was made by Director Martinez and seconded by Secretary Bivens to approve Resolution
No. FWHFC-2024-06, Hiring Shackelford, Bowen, McKinley, & Norton LLP as legal counsel for
the Corporation and for a general partner entity (PFW E Lancaster Avenue GP, LLC) to be owned
and/or operated by the Corporation, for the negotiation of terms for the partnership, to advise
regarding the formation of the partnership, and other deal -specific matters. The motion passed on
an 10-0 vote. Director Nettles was absent.
c. Resolution approving an agreement with Palladium USA, Inc. (or an affiliate) for the
development of Palladium East Lancaster Apartments and confirming and ratifying the
formation of PFQ E Lancaster GP, LLC to serve as general partner of Palladium E
Lancaster Avenue, Ltd., a Texas Limited Partnership, and the entity developing, owning,
and managing Palladium East Lancaster Apartments, and approving all related actions
required for this development
It was the consensus of the Corporation that this item be considered during the May 2024 meeting.
d. Resolution authorizing the Corporation or an affiliate to acquire land located at 4900 &
5003 E. Lancaster Avenue and 4900 & 4808 Normal Street for the development of
Palladium East Lancaster Apartments and to enter into a long-term ground lease with
Palladium E Lancaster Avenue, Ltd., a Texas Limited Partnership
It was the consensus of the Corporation that this item be considered during the May 2024 meeting.
CITY OF FORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY, APRIL 23, 2024
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e. Resolution approving the actions of the Corporation as owner of PFW E Lancaster
Avenue GP, LLC, the general partner of Palladium E Lancaster Avenue, Ltd., and all
other actions necessary for the financing, development, and operation of the Palladium
East Lancaster Apartments
It was the consensus of the Corporation that this item be considered during the May 2024 meeting.
f. Resolution authorizing the Corporation or an affiliate to act as general contractor or
participate in a joint venture relating to the development
It was the consensus of the Corporation that this item be considered during the May 2024 meeting.
5. Consider and Adopt a Resolution Approving a Forgivable Loan to Fort Worth
Affordability Inc. in the amount of $100,000.00 for the Development of Babers Manor
Apartments as Part of the Multi -Year Choice Neighborhoods Implementation Grant in
the Cavile Place/Historic Stop Six Area and Authorize Related Actions — Chad LaRoque,
Housing Development Manager
Chad LaRoque, Housing Development Manager, provided a staff report.
Motion was made by Secretary Bivens and seconded by Vice President Beck to approve
Resolution No. FWHFC-2024-07, Approving a Forgivable Loan to Fort Worth Affordability Inc.
in the amount of $100,000.00 for the Development of Babers Manor Apartments as Part of the
Multi -Year Choice Neighborhoods Implementation Grant in the Cavile Place/Historic Stop Six
Area and Authorize Related Actions. The motion passed on an 10-0 vote. Director Nettles was
absent.
6. Consider and Adopt Resolution naming Amy Connolly as the Acting Assistant General
Manager of the Fort Worth Housing Finance Corporation — Fernando Costa, General Manager
Fernando Costa, General Manager, provided a staff report.
Motion was made by Director Crain and seconded by Director Lauersdorf to approve Resolution
No. FWHFC-2024-08, naming Amy Connolly as the Acting Assistant General Manager of the
Fort Worth Housing Finance Corporation. The motion passed on an 10-0 vote. Director Nettles
was absent.
7. Executive Session
There was no Executive Session.
8. Requests for Future Agenda Items
Secretary Bivens requested an Executive Session during the next meeting to discuss personnel
matters.
CITY OF FORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY, APRIL 23, 2024
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9. Adjourn
With no further discussion, President Flores adjourned the meeting of the Fort Worth Housing
Finance Corporation at 11:39 a.m. on Tuesday, April 23, 2024.
These minutes approved by the Fort Worth Housing Finance Corporation Board of Directors on
the 21" day of May, 2024.
APPRO .
Carlos lores
Necretary
ATTEST:
ette S. Goodall
ity Secretary