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Home My WebLink About6181-10-2025 - City Council - ResolutionA Resolution NO. 6181-10-2025 APPROVING FOR PURPOSES OF SECTION 147(f) OF THE INTERNAL REVENUE CODE OF 1986, THE MULTIFAMILY HOUSING REVENUE BONDS TO BE ISSUED BY TRINITY RIVER PUBLIC FACILITY CORPORATION FOR HUGHES HOUSE II WHEREAS, Trinity River Public Facility Corporation (the "Issuer") is a Texas non-profit corporation created in accordance with the Public Facility Corporation Act, Chapter 303 of the Texas Local Government Code, exclusively for the purpose of assisting the Housing Authority of the City of Fort Worth, d/b/a Fort Worth Housing Solutions, in financing or providing public facilities and in particular affordable mixed income multifamily housing units in the State of Texas; and WHEREAS, FW Hughes House II, LP, a Texas limited partnership (the "Borrower"), is seeking to borrow funds from the Issuer to finance a portion of the costs of acquisition, construction, and equipping of an approximately 302-unit residential rental development to be known as the Hughes House II (the "Project"), in the 4800 block of East Rosedale within the Choice Neighborhood Grants area, the approximate location of which is reflected in the attached exhibit; and WHEREAS, Issuer has expressed its official intent to issue tax exempt multifamily housing revenue bonds or other obligations in an aggregate principal amount not to exceed $52,000,000 (the "Bonds") to finance a portion of the Project costs; and WHEREAS, pursuant to the provisions of Section 147(f) of the Internal Revenue Code of 1986, as amended, the City Council of the City of Fort Worth, after the required public hearing following reasonable notice (the "TEFRA Hearing"), must approve issuance of obligations by the Issuer in order for the obligations to qualify as tax-exempt obligations under the Code; and WHEREAS, the TEFRA Hearing regarding the Bonds and the Project was conducted on August 29, 2025, by a designated hearing officer of the Issuer, evidence of which is attached hereto as an exhibit. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS THAT: 1. The City Council, solely for the purposes of Section 147(f) of the Internal Revenue Code, as the elected legislative body having jurisdiction over an area in which the facilities to be financed with the proceeds of the Bonds are to be located, hereby approves the proposed issuance of the Bonds in an amount not to exceed $52,000,000.00 to finance development of the Project and authorizes Mayor Mattie Parker to execute an Approval Certificate evidencing such anoroval. 2. The foregoing approval is given in accordance with the provisions of Section 147(f) of the Internal Revenue Code and for no other purposes and is not to be construed as an undertaking by the City of Fort Worth. THE BONDS SHALL NOT CONSTITUTE A LIABILITY, INDEBTEDNESS, OR OBLIGATION OF THE CITY OF FORT WORTH, NOR SHALL ANY OF THE ASSETS OF THE CITY OF FORT WORTH BE PLEDGED TO THE REPAYMENT OF THE BONDS. 3. This resolution shall take effect immediately from and after its passage in accordance with the provisions of the Charter of the City of Fort Worth, and it is accordingly so resolved. PASSED AND APPROVED, this October 28, 202 i Matti. Parker, Mayor APPROVED AS TO FORM AND LEGALITY: By: - ann Guzma , C' y Attorney ATTEST: J a n n e S. Goodall, City Secretary 4�1 0000000�sjr`� ca� 00 00® �. 0 0 0 6 � ..0 00 Dv o 1 � ap 44 �p0py000000 a. Project Location V Virginia Ln ti � a ;, R Beaty St Beaty g Panata Ave v F t Vinson St Y H y� �fqy m J S j O ire Blvd Hampshire Blvd N Hampshire Blvd m -01 a S Hampshire Blvd ; o< # a i m c6 ♦old hanmey E Rosen"le Re Leaman Container, Inc Q Avenue .4 � Ave nueG Rosedale ., = Aver.,ec E CAVILLE Plaza Park g E►tasada�St EAosedaleSt a AYem1eH a AvenueH < c y Lynda close y < a y P i%Ghr Avenues V5 RuCdSi o m <' HISTORIC Avenues Avenue) Paul Laurence 0 ROSEDALE PARK 0 Dunbar Young Mens...ti, WnieSr ; Paton Dr v Wdiieg D,a,barSt Avenue M J \, Elgin St rinl aan Dr y� tlfl Llfthef Maf C Truman or Chapman St Q Mayfield Baptist Church �GGng.Park A,Raue N S SAVE,, Eastover Park O Boys & Girls Clubs 5 Ricke„ bac wPl STOP 6/POLY of Greater Tarrant_. Lester Granger St Talxe Rd OVERSIGHT Ranvy Ave o u t vIn Ave S L y Y x 3 HEt d $ s 2 11--,-. Elunche Park a. Sunshine Dr D M—:: DARa FV DI APV MINUTES OF PUBLIC HEARING Re: Trinity River Public Facility Corporation Multifamily Housing Revenue Bonds (Hughes Hughes II) The undersigned hearing officer of the Trinity River Public Facility Corporation (the "Issuer") had the public hearing called to order at 9:03 a.m. on August 29, 2025, and the hearing was conducted telephonically on behalf of the Issuer pursuant to Section 147(f) of the Internal Revenue Code. The public hearing, required under Section 147(f) of the Internal Revenue Code of 1986, was declared open for purposes of discussing the Bonds, the proceeds of which will be loaned to FW Hughes House II, LP to acquire, construct and maintain a multifamily residential rental facility to be known as Hughes House II (the "Project") located at approximately 1401 Etta Street, Fort Worth, Texas 76105. The required notice of the public hearing for the Project was published in the Fort Worth Star Telegram, being a newspaper of general circulation in the area of operation of the Issuer and the Project, as set forth in the affidavit of publication attached hereto as Exhibit A. No comments were made by the general public at the public hearing with respect to the Project. After sufficient time was given for all present to make their comments with respect to the Bonds and the Project, the public hearing was declared closed. Dated as of August 29, 2025. Brian K 'son Hearing Officer EXHIBIT A AFFIDAVIT OF PUBLICATION (SEE ATTACHED) McClatchy Acp nv War N rbm IPLUt63r16 ATRWRON BMW 270OViakribaa ALm. A MR, wyalwomiamose,cm ................................ . NOTICE OF PUBLIC NEARING Nona+ is Rersby grven o1 a Dub - AD hwbv to be held tyi vhy R&W Plmao Faatrty Capomm Idle Imu- sr'I. on Au" 29. 2026, at 900 am_ by 1aM0or/eronoo *4h respect to an DOW$ 1Ote�ary bombe 69md bV the Ieeuer in one or rncre senets o1 box -a apt bonds In an 90gre- 931@ prw-ADW atWX4 not b exce4a $52.000.000. The pr000em of Sae 80008 Will be kaned b FW Hughes Hiluse O. LP for a mufta person or aft4w m Owed, ese -Bommer►, to tl- nance a Comm d the cosfs of acrRa- Oro and construckn of a rnutthmov •emi"aai reml 09'.eloproent to be Ivtawn as Flupheb Mouse a M* 'Ue- vel�rrtexlt 1, oortmnmg epproxtmataty 302 outs and b be located at ap- pro-nategr the 1401 Cite Street. Fort Ywro'. Texas 16106, Tta Oetralow'sof well be nu ft vaned by to Bo v*w the Bonds at10 be I&M pin scant b the prowlyorte of the Texas ft Fowen Cal CrMW# Code. C7ivW 303, Vernon's teyss Code, as arrtettded ithe 'Acrt. The Buds are enw.$- ed 10 be issued as 'exwkp hap bonds" for a quW*d rewdentlal WU p o0a Wrauant b Section 142w(ti ud 4d1 of ehe Internal Pav- anus Code d 1986. as arnended 0* -Code'). the mar teglt owmer d 1he Devote nerd land a teasehmd irsmm t+ Ilia Ueveklpnlent alb) way be the Borroi W tdwamd 80" AD irRe Wet persona are YxF ea In to the public hearrnq 10 expgsea Ir VWWS Won r GWI to the Wmtpnont acid ttae l9suance at Trio Bonds, TO con the W000nlarenos. Call in to*hhaye� of #8111146--a263. ROW.0de 023520t N. Oumb a or reQAsLa for additional inlDm alm rT W be mreClBd to I* Brim Dermi- son, Son Vlbrth hr0u SOluports, 1407 Texas Streett. Fort MnK Texas 16102 or 1817) 333.MQ- it�t�63r16 Aug 20 2025 111 a Beaufort Gazem Dvhom I The Heral6Sun The Modexb gee The Beaevilk Nm*Demacrat Fonwan SmrTelea wn the Sun News - Nbrde Beach "inpnem tM-ad The Feewo Bee Rakrarf News i OLserver Ce-ttre Daily Taney the heard Pacaet Roca Nt 1 The Herald Sun Herald TM Karma Cex Star the Secrameroo Bee Idaso sum mm Lot maian Heyakkeader San W a OL"m TnLww Bradereon Herold The Talearaph. Memn Tacoma I The News Triune The Charlene Ouaarver Merced Sw Star TrrGiv Herald The Slate 1lmrrf Herald Ter_ WiJa3 Eapae Lecipe•-Emory El Noev a Herald The Olvmtwn AFFIDAVIT OF PUBLICATION Weaukam Ome00 Cols De)rth LooAd.IPLO263716 1.0 58.OL THE STATE OF TEXAS i COWITY(IF TARRANT i Belare me. a 1To4Tty Pt�c m and k+r sad Cougy Jl1d $L'IR. ih6 day i pa * aMared die uxlatsgned. Bid and Leo CoxelimTor lot ft Star-7ele73m. ptlbtim W to Snr•Teklgratn Inc at Fan Warp. m Tarrant Gmw. 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