HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2025-06RESOLUTION NO. FWHFC — 2025-06
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION AUTHORIZING EXECUTION OF AGREEMENTS NECESSARY TO
ALLOW ROYAL CAPITAL, LLC TO FACILITATE STORMWATER
IMPROVEMENTS AND FUTURE MAINTAINANCE OF A STORMWATER FACILITY
AND RELATED INFRASTRUCTURE AS PART OF THE EVANS AND ROSEDALE
MIXED -USE URBAN DEVELOPMENT PROJECT
WHEREAS, the Fort Worth Housing Finance Corporation (the "Corporation" or the
"FWHFC") 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 2024, the Corporation, the City of Fort Worth ("City"), and the City of
Fort Worth Local Development Corporation ("LDC") issued a Request for Expressions of
Interest ("RFEI") seeking redevelopment proposals for the Evans and Rosedale Urban Village
area that maximized the use of the property for the current market while respecting the area's
history;
WHEREAS, the area includes a total of 36 properties (the "Properties"), consisting of
one (1) City -owned property, five (5) Local Development Corporation ("LDC") owned
properties, and thirty (30) FWHFC-owned properties ("FWHFC Properties");
WHEREAS, after significant community engagement and feedback, review of submitted
proposals, and negotiation, staff for the Corporation, the City, and the LDC are recommending
that Royal Capital, L.L.0 ("Royal") be selected to redevelop the area;
WHEREAS, Royal is proposing approximately 181 total housing units, consisting of 60
senior units, 42 family units, 66 stacked flats, and 13 live/work units, with a portion being
affordable units; a cultural square; parks, and other public spaces (the "Development");
WHEREAS, Royal is expected to purchase the FWHFC Properties for the Development;
WHEREAS, FWHFC owns three additional parcels of land on or near the Development
that are not included in the FWHFC Properties ("Additional FWHFC Properties");
WHEREAS, the Additional FWHFC Properties are needed by Royal for necessary
stormwater improvements ("the Improvements") which means Royal needs access to such
properties for construction of the Improvements;
WHEREAS, the Additional FWHFC Properties are planned to become a dedicated
public park with an underground stormwater facility to be installed and maintained by Royal;
and
RESOLUTION NO. FWHFC-2025-06
PAGE 2
WHEREAS, it is the desire of the Corporation to execute agreements necessary to allow
Royal to access the Additional FWHFC Properties for the purpose of constructing and
maintaining the Improvements.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE FORT WORTH HOUSING FINANCE CORPORATION:
1. THAT the Board authorize the Corporation to execute agreements, including but not
limited to licenses, easements, and/or stormwater maintenance agreements, it
determines to be necessary to allow Royal to access the Additional FWHFC
Properties, including beneath the property, for the purpose of constructing and
maintaining the Improvements.
2. 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
By:
Carlos Flores
President
Attest:
Jannette . Goodall