HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2025-03RESOLUTION NO. FWHFC—2025-03
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION AUTHORIZING THE SALE OF THREE LOTS LOCATED AT 2705
BERRYHILL DR., 1708 TALTON AVE., AND 2721 BELZISE TER. IN COUNCIL
DISTRICT 8 TO ALPHA FAMILY GROUP, LLC OR AN ELIGIBLE AFFILIATE FOR
THE DEVELOPMENT OF SINGLE-FAMILY RESIDENCES
WHEREAS, the Fort Worth Housing Finance Corporation (the "Corporation") seeks to
promote homeownership and neighborhood revitalization throughout the City of Fort Worth
("City") and foster the development of quality, accessible, affordable housing for low- and
moderate -income individuals and families;
WHEREAS, in 2007 and 2008 the Corporation acquired several lots for future affordable
housing development as part of its land banking program, and has constructed single family houses
and developed subdivisions especially in targeted areas of the City;
WHEREAS, the Corporation's standard documents for sale of single family lots include
mechanisms to ensure that the purchaser of the lots uses the property to construct single family
houses and sell them to income -eligible buyers ("Deed Restrictions");
WHEREAS, Alpha Family Group, LLC, a Texas limited liability corporation, requested
to purchase 3 lots located at 2705 Berryhill Dr.; 1708 Talton Ave.; and 2721 Belzise Ter. in
Council District 8 at below market value negotiated based upon a broker's price opinion in order
to build affordable owner -occupied, single-family residences;
WHEREAS, the Board of the Corporation (the "Board") desires to approve the sale of 3
lots to Alpha Family Group, LLC, or to an affiliated entity that is willing and able to comply with
the Deed Restrictions (an "Eligible Affiliate"); and
WHEREAS, the Corporation is amenable to selling the lots for a total amount of
$102,500.00 for the purpose of affordable single-family housing development.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE FORT WORTH HOUSING FINANCE CORPORATION:
THAT the Board approves the sale of the 3 lots more particularly described on the attached
Exhibit "A" (the "Property") to Alpha Family Group, LLC or an Eligible Affiliate, for
the negotiated price of $102,500.00, plus the payment by the buyer of all closing costs.
2. THAT the Board approves the execution and delivery of the following for the sale of the
Property: (i) sale and purchase agreements with Alpha Family Group, LLC or an Eligible
Affiliate, (ii) related deeds, and (iii) closing statements and any other related documents
necessary to complete the sale of the Property with all contracts and deeds to include deed
RESOLUTION NO. FWHFC-2025-03
PAGE 2
restrictions, rights of repurchase and/or first refusal, and reverters as staff deems
appropriate in order to ensure the Property is used for the intended purpose (the "Closing
Documents").
3. THAT Dana Burghdoff, General Manager of the Corporation, or Kacey Bess, Assistant
General Manager, or their duly appointed successors, are each authorized to execute and
deliver the Closing Documents for and on behalf of the Corporation along with any related
documents necessary to sell the Property.
4. THAT to the extent any actions to sell the Property authorized by this Resolution have
already been taken by the Corporation, Dana Burghdoff, Kacey Bess, or any other
representative or agent of the Corporation, the Board hereby ratifies and confirms such
actions as the valid actions of the Corporation, effective as of the date such action was
taken.
5. THAT this Resolution takes effect on the date of its adoption.
AND IT IS SO RESOLVED.
Adopted April 22, 2025.
FORT WORTH HOUSING FINANCE CORPORATION
"y:
Carlos Flores
President
Attest:
Jannette S. Goodall