HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2025-11RESOLUTION NO. FWHFC-2025-11
FORT WORTH HOUSING FINANCE CORPORATION
RESOLUTION APPROVING ACTION OF THE CORPORATION AS OWNER OF
TERRELL HOMES, GP, LLC, THE GENERAL PARTNER OF TERRELL HOMES,
LTD. AND APPROVING ALL ACTIONS NECESSARY FOR CONTINUING
OPERATIONS AND MANAGEMENT OF TERRELL HOMES
WHEREAS, the City Council of the City of Fort Worth ("City") created the Fort Worth
Housing Finance Corporation (the "Corporation") in 1979 pursuant to the Texas Housing Finance
Corporations Act, to facilitate housing initiatives in the City, including but not limited to, issuing
tax exempt bonds; developing, rehabilitating, and promoting housing; and assisting low to
moderate income City residents in acquiring quality, accessible, affordable housing through
lending and construction activities;
WHEREAS, NRP Development, RBC Investments, and the Corporation formed Terrell
Homes, Ltd. to construct and manage the Terrell Homes Development ("Terrell Homes"), a 54-
unit, single family affordable housing project located within the Historic Southside Neighborhood
and within the City of Fort Worth;
WHEREAS, the Corporation is the sole member of Terrell Homes GP, LLC, the general
partner of Terrell Homes, Ltd.;
WHEREAS, NRP Management LLC has served as the official "unit/apartment" manager
for the development since it opened in 2012 and has ongoing contractual obligations with Terrell
Homes, Ltd. as set forth in a property management agreement dated December 9, 2011;
WHEREAS, on May 8, 2025, NRP Management LLC submitted a 30-day notice to
terminate its management of Terrell Homes;
WHEREAS, the Partnership desires to enter into a new property management agreement
to ensure the continuing operations and management of Terrell Homes;
WHEREAS, the Board adopts the following resolution, as the resolutions of the
Corporation acting on behalf of the GP in its own capacity, and acting on behalf of the GP in its
capacity as the General Partner of the Partnership:
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE FORT WORTH HOUSING FINANCE CORPORATION:
1. THAT that the Corporation and the Partnership are hereby authorized to enter into a
Property Management Agreement for Terrell Homes;
RESOLUTION NO. FWHFC-2025-11
PAGE 2
2. THAT Dana Burghdoff, General Manager of the Corporation, or Kacey Bess, Assistant
General Manager of the Corporation, or their duly appointed successors, are each
authorized to execute and deliver the Property Management Agreement along with any
other documentation of every nature whatsoever as the Corporation, acting on behalf of the
GP and the Partnership, may deem advisable, necessary, desirable, or required for the
continuing operations of Terrell Homes (collectively, the "Property Management
Documents"); and that the Property Management Documents in each and every respect
are approved, authorized, ratified and confirmed. This authorization includes the ability to
make modifications and amendments so long as they are within the scope of the project,
and in conformance with the goals and purposes of the Corporation, as may be amended
from time to time;
3. THAT this Resolution takes effect from the date of its adoption.
AND IT IS SO RESOLVED.
Adopted June 24, 2025
FORT WORTH HOUSING FINANCE CORPORATION
By:
Carlos Flores
President
Attest:
Jannette S. Goodall