HomeMy WebLinkAboutFWHFC-2026-29 - Fort Worth Housing Finance Corporation (FWHFC) - Resolution RESOLUTION NO. FWHFC -2026-29
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION AUTHORIZING THE SALE OF FOUR LOTS LOCATED AT 1301 E.
CANNON ST.; 1407 E. CANNON ST.; 802 MAGNOLIA AVE.; AND 1139 E. CANNON
ST., IN COUNCIL DISTRICT 8,TO HOPE OUTLOOK, FOR THE DEVELOPMENT OF
SINGLE-FAMILY RESIDENCES; REPEALING RESOLUTION FWHFC-2025-07
AUTHORIZING THE SALE OF SUCH PROPERTIES TO BRIGHTER OUTLOOK, INC.
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 that have been sold to developers to
construct single-family houses especially in targeted areas of the City;
WHEREAS, the Corporation's standard documents for sale of single
family lots include mechanisms to ensure that the purchaser uses the property
to construct single family houses and sell them to income-eligible buyers
("Deed Restrictions");
WHEREAS, by Resolution No. FWHFC-2025-07 adopted in May 2025 (the
"Prior Resolution"), the Board of the Corporation (the "Board") approved a sale
of the Property (defined below) to Brighter Outlook;
WHEREAS, subsequent review and clarification of the proposed
transaction determined that Hope Outlook is the actual entity seeking to
acquire the Property to construct single family affordable housing;
WHEREAS, the Board finds it is in the best interest of the Corporation to
repeal the Prior Resolution authorizing a sale of the Property to Brighter Outlook,
to allow the sale and conveyance of the Property to Hope Outlook instead;
WHEREAS, Hope Outlook, a 501 (c) 3 non-profit, requested to purchase 4
lots located at 1301 E. Cannon St.; 1407 E. Cannon St.; 802 Magnolia Ave. and 1139
E. Cannon St. in Council District 8 to build affordable owner-occupied, single-
family residences;
WHEREAS, the Board desires to approve the sale of 4 lots to Hope Outlook,
or to an affiliate entity willing and able to comply with the Deed Restrictions ;
and
WHEREAS, the Corporation is amenable to selling the lots for a total
amount of $100,000.00 so long as the Property for the purpose of affordable
single-family housing development.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
FORT WORTH HOUSING FINANCE CORPORATION:
1. THAT Resolution No. FWHFC-2025-07 adopted in May 2025 is hereby
repealed in its entirety.
2. THAT the Board approves the sale of the 4 lots more particularly
described on the attached Exhibit"A" (the "Property") to Hope Outlook.,
or an affiliate, for the negotiated price of $100,000.00, plus the payment
by the buyer of all closing costs.
3. THAT the Board approves the execution and delivery of the following for
the sale of the Property: (i) sale and purchase agreements with Hope
Outlook or an affiliate, (ii) related deeds, and (iii) closing statements 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").
4. THAT Dana Burghdoff, General Manager of the Corporation, or Kacey
Thomas, Assistant General Manager, 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.
5. 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.
FORT WORTH HOUSING FINANCE CORPORATION
B .—f�
Elizabeth Beck, President
Attest:
Jannette S. Goodall
EXHIBIT A
ADDRESS LEGAL SALES PRICE RESERVATION
DESCRIPTION
1301 E. Cannon St. Lot 14, Block 44, $30,000.00 FWHFC retains
Union Depot mineral rights
Addition, Fort
Worth, TX
1407 E. Cannon St. Lot 4 & 5, Block 4, $30,000.00 FWHFC retains
Glenwood mineral rights
Addition, Fort
Worth, TX
802 Magnolia Lot 21 E 1/2 Lot 21 $20,000.00 FWHFC retains
Ave. & 22, Block 2, mineral rights
Ryan JC
Subdivision, Fort
Worth, TX
1139 E. Cannon St. Lot 11, Block 25, $20,000.00 FWHFC retains
Union Depot mineral rights
Addition, Fort
Worth, TX
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