HomeMy WebLinkAboutFWHFC-2026-28 - Fort Worth Housing Finance Corporation (FWHFC) - Resolution RESOLUTION NO. FWHFC - 2026-28
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION AUTHORIZING THE SALE OF A LOT LOCATED AT 2511 MITCHELL
BLVD IN COUNCIL DISTRICT 8 TO CAH DEVELOPMENTS, LLC, FOR THE
DEVELOPMENT OF A NEIGHBORHOOD EMERGENCY HOSPITAL
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;
WHEARAS, the Corporation's policy for the sale of FWHFC owned property
allows lots to be sold for uses other than single family housing with the Board
of the Corporation (the "Board") approval;
WHEREAS, CAH Developments, LLC, a Florida limited liability company,
requested to purchase property located at 2511 Mitchell Blvd., Fort Worth, Texas,
76105, in Council District 8;
WHEREAS, the Board desires to approve the sale of 2511 Mitchell Blvd. to
CAH Developments, LLC, or to an approved related entity, (the "Buyer") for the
development of a neighborhood emergency hospital for a sales price in an
amount not less than the appraised value; and
WHEREAS, the appraised value of 2511 Mitchell Blvd. is eight hundred eight
thousand, thirty-eight and 00/100 dollars ($808,038.00).
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
FORT WORTH HOUSING FINANCE CORPORATION:
1. THAT the Board approves the sale of 2511 Mitchell Blvd. more particularly
described on the attached Exhibit "A" (the "Property") to the Buyer, for
a sales price in an amount not less than the appraised value, plus the
payment by the Buyer of all closing costs, for the development of a
neighborhood emergency hospital.
2. THAT the Board approves the execution and delivery of the following for
the sale of the Property: (i) sale and purchase agreement with the Buyer,
(ii) related deed, and (iii) closing statement and any other related
documents necessary to complete the sale of the Property with all
contracts and deeds to include deed 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
Thomas, Assistant General Manager of the Corporation, 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 Thomas, 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 January 27, 2026.
ZBF O T WORTH HOUSING FINANCE CORPORATION
l�
Eli beth Beck, President
Attest:
Jannette S. Goodall
EXHIBIT A
ADDRESS LEGAL DESCRIPTION SALES PRICE RESERVATION
YE OLD BELLYE ACRES An amount not FWHFC retains
2511 Mitchell ADDITION Lot 2 less than the mineral rights
Blvd. appraised value
which is
$808,038.00