HomeMy WebLinkAboutFWHFC-2025-27 - Fort Worth Housing Finance Corporation (FWHFC) - Resolution RESOLUTION NO. FWHFC—2025-27
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION AUTHORIZING THE SALE OF LOTS LOCATED AT 5175
CHARLENE ST., 5401 COTTEY ST., 5217 TURNER ST.,2513 WILLIS POINT CT.,
2514 WILLIS POINT CT., 1118 E. TUCKER ST., 2651 BELZISE TER. IN COUNCIL
DISTRICT 5 & 8 TO FORT WORTH COMMUNITY LAND TRUST, OR AN ELIGIBLE
AFFILIATE,FOR THE DEVELOPMENT OF SINGLE-FAMILY RESIDENCES
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 of the lots uses the property to construct single family
houses and sell them to income-eligible buyers ("Deed Restrictions");
WHEREAS, Fort Worth Community Land Trust, a 501(c)(3) nonprofit organization
("FWCLT"),requested to purchase lots located at 5175 Charlene St.,5401 Cottey St.,5217 Turner
St., 2513 Willis Point Ct., 2514 Willis Point Ct., 1118 E. Tucker St., and 2651 Belzise Ter., in
Council District 5 & 8, in order to build affordable owner-occupied, single-family residences;
WHEREAS, the Board of the Corporation (the "Board") desires to approve the sale of
5175 Charlene St., 5401 Cottey St., 5217 Turner St., 2513 Willis Point Ct., 2514 Willis Point Ct.,
1118 E. Tucker St., and 2651 Belzise Ter. to FWCLT, or to an affiliate entity, that is willing and
able to comply with the Deed Restrictions (an"Eligible Affiliate"); and
WHEREAS, the Corporation is amenable to selling the lots for a total amount of
$178,027.00 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 the Board approves the sale of lots 5175 Charlene St., 5401 Cottey St., 5217
Turner St., 2513 Willis Point Ct.,2514 Willis Point Ct., 1118 E. Tucker St., and 2651
Belzise Ter.more particularly described on the attached Exhibit"A" (the"Property")to
FWCLT or an Eligible Affiliate, for the negotiated price of$178,027.00 plus the payment
by the buyer of all closing costs.
2. THAT the Board approves the execution and delivery of the following for the sale of the
Property: (i) sale and purchase agreements with FWCLT, or an Eligible 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").
3. 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.
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 December 09, 2025.
FORT WORTH HOUSING FINANCE CORPORATION
By:
J
Hall
Vj C e President
Attest:
Jannette S. Goodall
EXHIBIT A
ADDRESS LEGAL DESCRIPTION SALES PRICE RESERVATION
5175 Charlene St. URBAN MEADOWS FWHFC retains
ADDITION Block 1 Lot 7 $19,500.00 mineral rights
5401 Cottey St. SUNRISE ADDITION Block FWHFC retains
4 Lot 663 $24,225.00 mineral rights
SUNRISE ADDITION Block FWHFC retains
5217 Turner St. 9 Lot 9 $53,658.00 mineral rights
2513 Wills Point Ct. WHITMORE COURTS FWHFC retains
ADDITION Block A Lot 14 $23,100.00 mineral rights
2514 Wills Point Ct. WHITMORE COURTS FWHFC retains
ADDITION Block B Lot 14 $22,950.00 mineral rights
1118 E. Tucker St. UNION DEPOT ADDITION FWHFC retains
Block 23 Lot 5 $15,000.00 mineral rights
2651 Belzise Ter. SUNRISE PARK ADDITION FWHFC retains
Block 8 Lot 12A $19,594.00 mineral rights
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