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Home My WebLink About2025/04/22-Minutes-Fort Worth Housing Finance Corporation (FWHFC)CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION TUESDAY, APRIL 22, 2025 Present: President Carlos Flores Vice President Elizabeth Beck Secretary Gyna M. Bivens (Arrived at 11:18 a.m.) Director Mattie Parker Director Michael D. Crain Director Jared Williams (Remote) Director Chris Nettles (Arrived at 11:18 a.m.) Director Alan Blaylock (Remote) Director Jeanette Martinez Absent: Director Charlie Lauersdorf Director Macy Hill Staff: Dana Burghdoff, General Manager Kacey Bess, Assistant General Manager Denis McElroy, Senior Assistant City Attorney Leslie Hunt, Senior Assistant City Attorney Reginald Zeno, Treasurer Ronald P. Gonzales, Assistant 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 11:12 a.m. on Tuesday, April 22, 2025, in the City Council Work Session Room, of the Fort Worth City Hall, 100 Fort Worth Trail, Fort Worth, Texas. 2. Approval of Minutes a. Regular Meeting Held on February 25, 2025 Motion was made by Director Parker and seconded by Director Crain to approve the February 25, 2025, meeting minutes. The motion passed on an 7-0 vote. Secretary Bivens and Director Nettles off dais and Directors Lauersdorf and Hill absent. 3. Written Reports a. Unaudited Financial Statement as of February 28, 2025 b. Unaudited Financial Statement as of March 31, 2025 CITY OF TORT WORTH,TEXAS TORT WORTH HOUSING FINANCE CORPORATION TUESDAY, APRIL 22, 2025 PAGE 2 of 4 c. Quarterly Investment Report as of March 31, 2025 d. Quarterly Sale of Corporation Land Report as of March 31, 2025 There was no discussion on the written reports; they were for informational purposes only. 4. Briefing on Compliance Monitoring for Housing Finance Corporation Properties — Leticia Rodriguez, Contract Compliance Administrator, Neighborhood Services Department Leticia Rodriguez, Contract Compliance Administrator, Neighborhood Services Department, provided a staff report. 5. Briefing on Previous Lot Sales (1704 Colvin Avenue; 2650, 2670 and 2770 Ash Crescent Street and 2771 Belzise Terrace) to Alpha Family Group, LLC — Josh Hezlep, Neighborhood Development Coordinator, Neighborhood Services Department Josh Hezlep, Neighborhood Development Coordinator, Neighborhood Services Department, provided a staff report. 6. Action Items: a. Consider and Adopt a Resolution Authorizing the Sale of 3 Lots (2705 Berryhill Drive, 1708 Talton Avenue and 2721 Belzise Terrace) in Council District 8 to Alpha Family Group, LLC or an Eligible Affiliate, for the Development of Affordable Single -Family Homes for a Total Sales Price of $102,500.00 - Josh Hezlep, Neighborhood Development Coordinator, Neighborhood Services Department Josh Hezlep, Neighborhood Development Coordinator, Neighborhood Services Department, provided a staff report. Motion was made by Director Nettles and seconded by Director Beck to approve Resolution No. FWHFC-2025-03, Authorizing the Sale of 3 Lots (2705 Berryhill Drive, 1708 Talton Avenue and 2721 Belzise Terrance) in Council District 8 to Alpha Family Group, LLC or an Eligible Affiliate, for the Development of Affordable Single -Family Homes for a Total Sales Price of $102,500.00. The motion passed on an 9-0 vote. Directors Lauersdorf and Hill absent. b. Consider and Adopt a Resolution Authorizing Sale of Thirty (30) Corporation Lots to the City of Fort Worth, at Fair Market Value Estimated to be $3,595,977.13, to Facilitate the Evans and Rosedale Mixed -Use Redevelopment Project with Royal Capital, LLC or an Affiliate — Ori Fernandez, Assistant Economic Development Director, and Kacey Bess, Assistant General Manager Ori Fernandez, Assistant Economic Development Director, and Kacey Bess, Assistant General Manager, provided introductory comments. Martha Collins, Economic Development Manager, provided a staff report. CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION TUESDAY, APRIL 22, 2025 PAGE 3 of 4 Motion was made by Director Nettles and seconded by Director Beck to approve Resolution No. FWHFC-2025-04, Authorizing Sale of Thirty (30) Corporation Lots to the City of Fort Worth, at Fair Market Value Estimated to be $2,595,977.13, to Facilitate the Evans and Rosedale Mixed - Use Redevelopment Project with Royal Capital, LLC or an Affiliate. The motion passed on an 9- 0 vote. Directors Lauersdorf and Hill absent. President Flores advised that the previous staff report by Martha Collins, also pertained to Items 6c and 6d on the agenda. c. Consider and Adopt a Resolution Authorizing the Fort Worth Housing Finance Corporation to Provide up to $2,500,000.00 in Backup Financing for the Evans and Rosedale Project in the Form of a Soft Loan or Comparable Financial Arrangement in the Event Identified Grant Funds are not Approved to Support the Project - Ori Fernandez, Assistant Economic Development Director, and Kacey Bess, Assistant General Manager Motion was made by Director Nettles and seconded by Director Beck to approve Resolution No. FWHFC-2025-05, Authorizing the Fort Worth Housing Finance Corporation to Provide up to $2,500,000.00 in Backup Financing for the Evans and Rosedale Project in the Form of a Soft Loan or Comparable Financial Arrangement in the Event Identified Grant Funds are not Approved to Support the Project. The motion passed on an 9-0 vote. Directors Lauersdorf and Hill absent. d. Consider and Adopt a Resolution Authorizing the Fort Worth Housing Finance Corporation to Execute Agreements, Including but not Limited to Easements, Licenses, and/or Stormwater Facility Maintenance Agreements, Necessary to Allow Royal Capital, LLC to Facilitate Stormwater Improvements for the Evans and Rosedale Project and Future Maintenance of a Stormwater Facility and Related Infrastructure - Ori Fernandez, Assistant Economic Development Director, and Kacey Bess, Assistant General Manager Motion was made by Director Nettles and seconded by Director Beck to approve Resolution No. FWHFC-2025-06, Authorizing the Fort Worth Housing Finance Corporation to Execute Agreements, Including but not Limited to Easements, Licenses, and/or Stormwater Facility Maintenance Agreements, Necessary to Allow Royal Capital, LLC to Facilitate Stormwater Improvements for the Evans and Rosedale Project and Future Maintenance of a Stormwater Facility and Related Infrastructure. The motion passed on an 9-0 vote. Directors Lauersdorf and Hill absent. 7. Executive Session There was no Executive Session. 8. Requests for Future Agenda Items Director Parker requested an update on the Corporation's process for buying and selling properties for affordable housing land banking purposes, including the criteria used to select properties to CITY OF FORT WORTH, TEXAS FORT WORTH HOUSING FINANCE CORPORATION TUESDAY, APRIL 22, 2025 PAGE 4 of 4 acquire (e.g., inner city housing, aging housing stock etc.) and how the public is being informed about the lots available for sale. Director Bivens requested information on using tax foreclosed properties for land banking and the impact of the 2017 Legislature regarding constiuction in urban areas. 9. Adjourn With no further discussion, President Flores adjourned the meeting of the Fort Worth Housing Finance Corporation at 11:43 a.m. on Tuesday, April 22, 2025. These minutes approved by the Fort Worth Housing Finance Corporation Board of Directors on the day of 2025. APPROV �/ V11"..' Carlos Flores President ATTEST: J ette S. Goodal CI Secretary