HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2024-15RESOLUTION NO. FWHFC-2024-15
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION
APPROVING THE BUDGET FOR THE 2024-2025 FISCAL YEAR
WHEREAS, the Board of Directors of the Fort Worth Housing Finance Corporation
(the "Board"), a Texas housing finance corporation (the "Corporation"), reviewed the
attached budget proposed for the 2024-2025 fiscal year of the Corporation (the "Budget")
during the Corporations meeting on August 27, 2024; and
WHEREAS, the Board desires to adopt the Budget as presented for the
Corporations 2024-2025 fiscal year.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE FORT WORTH HOUSING FINANCE CORPORATION:
1. THAT the Board approves the attached Budget for the Corporation's 2024-2025
fiscal year.
2. THAT this Resolution takes effect on the date of its adoption.
AND IT IS SO RESOLVED.
Adopted August 27, 2024
FORT WORTH HOUSING FINANCE CORPORATION
By:
Carlos Flores
President
Attest:
Jannette S. Goodall
RESOLUTION NO. FWHFC-2024-15
PAGE
Proposed Fort Worth Housing Finance Corporation 2024-2025 Budget
Revenues
Proposed
2024-25
Project Cash Flow Enclave at the Park & Westport)
$1,295,000
Affordable Housing Payments
451,000
Interest on Investments
280,000
Developer Fees orthill Manor
100,000
Land Sales — Vacant Lots
100,000
Gas Lease — Royalties
35,000
Loan Repayments Columbia & Mistletoe
15,874
Interest on Loans
13,940
Miscellaneous Revenue
1,000
Total
$2,291,814
Expenditures
Affordable Housing Project Expense
$632,556
Transfer to City Salaries
311,039
Terrell Homes - Loan
197,187
HOME Match
157,017
PSH Supportive Services
255,000
Consultant Fees
100,000
Mowing HFC properties
50,200
Professional Services
40,000
Contractual services
25,000
Conferences, Seminars, Training
20,000
Audit Fees - CohnRemick
17,500
Dues, Membership & Renewals
11,355
Property, Liability & D&O Insurance
5,027
Office Supplies
500
Printing
500
Property Tax -Mineral Interest
350
Postage
50
Total Expenditures
$1,823,281
Net Contribution to Fund Balance
$468,533
Total
$2,291,814