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Home My WebLink About2024/05/21-Minutes-Fort Worth Housing Finance Corporation (FWHFC)CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION TUESDAY, MAY 21, 2024 Present: President Carlos Flores Vice President Elizabeth Beck 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: Secretary Gyna M. Bivens Staff: Fernando Costa, General Manager Amy Connolly, Acting Assistant General Manager Denis McElroy, Senior Assistant City Attorney 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 1:42 p.m. on Tuesday, May 21, 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 April 23, 2024 Motion was made by Vice President Beck and seconded by Director Hill to approve the April 23, 2024, meeting minutes. The motion passed on an 10-0 vote. Board Secretary Bivens was absent. 3. Written Reports CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION TUESDAY, MAY 21, 2024 PAGE 2 of 4 a. Unaudited Financial Statement as of April 30, 2024 There was no discussion on the written report; it was for informational purposes only. 4. Consider and Adopt Resolution Approving a Contract in the Amount of $37,500 with the Fort Worth Hispanic Chamber of Commerce for Certain Services that Promote Equitable Development on and around Panther Island — Anette Landeros, Fort Worth Hispanic Chamber of Commerce, and Fernando Costa, General Manager a. Briefing on the proposed Panther Island Equitable Development Study Anette Landeros, Fort Worth Hispanic Chamber of Commerce, and Fernando Costa, General Manager, provided a briefing on this item. b. Resolution approving an agreement between the Housing Finance Corporation and the Fort Worth Hispanic Chamber of Commerce in an amount not to exceed $37,500 to assist in the development of the Panther Island Equitable Development Study. Motion was made by Director Crain and seconded by Director Martinez to approve Resolution No. FWHFC-2024-09, Approving an agreement between the Housing Finance Corporation and the Fort Worth Hispanic Chamber of Commerce in an amount not to exceed $37,500 to assist in the development of the Panther Island Equitable Development Study. The motion passed on an 9- 0 vote. Director Hill abstained. Board Secretary Bivens was absent. 5. Consider and Adopt Resolutions 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 and 5003 E. Lancaster Avenue, and 4900 and 4808 Norma Street, within the Central Meadowbrook Neighborhood — Chad LaRoque, Housing Development Manager a. Chad LaRoque, Housing Development Manager, provided a staff report on the proposed Palladium East Lancaster Development that included agenda items 5b through 5f. b. 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 PFW E Lancaster Avenue 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 Motion was made by Director Martinez and seconded by Director Nettles to approve Resolution No. FWHFC-2024-10, 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 PFW E Lancaster Avenue GP, LLC to serve as general partner of Palladium E Lancaster Avenue, Ltd., a Texas Limited Partnership, and the entity developing, owning, and managing CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION TUESDAY, MAY 21, 2024 PAGE 3 of 4 Palladium East Lancaster Apartments, and approving all related actions required for this development. The motion passed on an 10-0 vote. Board Secretary Bivens was absent. Resolution authorizing the Corporation or an affiliate to acquire land located at 4909 and 5003 E. Lancaster Avenue, and 4900 and 4808 Norman 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 Motion was made by Director Martinez and seconded by Director Nettles to approve Resolution No. FWHFC-2024-11, Authorizing the Corporation or an affiliate to acquire land located at 4909 and 5003 E. Lancaster Avenue, and 4900 and 4808 Norman 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. The motion passed on an 10-0 vote. Board Secretary Bivens was absent. d. 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 operations of the Palladium East Lancaster Apartments Motion was made by Director Martinez and seconded by Director Nettles to approve Resolution No. FWHFC-2024-12, 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 operations of the Palladium East Lancaster Apartments. The motion passed on an 10-0 vote. Board Secretary Bivens was absent. e. Resolution authorizing the Corporation or an affiliate to act as general contractor or participate in a joint venture relating to the development Motion was made by Director Martinez and seconded by Director Nettles to approve Resolution No. FWHFC-2024-13, Authorizing the Corporation or an affiliate to act as general contractor or participate in a joint venture relating to the development. The motion passed on an 10-0 vote. Board Secretary Bivens was absent. 6. Consider and Adopt Resolution naming Kacey Bess as 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 Parker to approve Resolution No. FWHFC-2024-14 naming Kacey Bess as Acting Assistant General Manager of the Fort Worth Housing Finance Corporation. The motion passed on an 10-0 vote. Board Secretary Bivens was absent. 7. Executive Session CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION TUESDAY, MAY 21, 2024 PAGE 4 of 4 President Flores recessed the meeting and convened the Corporation Meeting into Executive Session at 2:11 p.m. The Board of Directors Fort Worth Housing Finance Corporation may conduct a closed meeting to: a. Seek the advice of its attorney about pending or contemplated litigation, settlement offers, or any matter in which the duty of the attorney for the Fort Worth Housing Finance Corporation under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with the Texas Open Meetings Act [Tex. Govt. Code §551.071]: (i) legal issues concerning any current agenda item; b. Discuss the purchase, sale, lease or value of real property, as authorized by Section 551.072 of the Texas Government Code, where 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. Executive Session ended and President Flores reconvened the meeting at 2:25 p.m. 8. Requests for Future Agenda Items There were no requests for future agenda items. 9. Adjourn With no further discussion, President Flores adjourned the meeting of the Fort Worth Housing Finance Corporation at 2:27 p.m. on Tuesday, May 21, 2024. These minutes approved by the Fort Worth Housing Finance Corporation Board of Directors on the 271h day of August, 2024. APPROVED Carlos Flores Presi ent Gy�a M. Bi ens Secretary ATTEST: ette S. Goodall City Secretary