HomeMy WebLinkAboutFWHFC-2026-31 - Fort Worth Housing Finance Corporation (FWHFC) - ResolutionRESOLUTION NO. FWHFC-2026-31
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION
APPROVING AN AMENDED BUDGET IN THE AMOUNT OF $800,000 FOR THE 2025-
2026 FISCAL YEAR
WHEREAS, the Board of Directors of the Fort Worth Housing Finance Corporation (the
"Board"), a Texas housing finance corporation (the "Corporation"), approved the budget for the
2025-2026 fiscal year of the Corporation (the "Budget") during the Corporation's meeting on
August 28, 2025;
WHEREAS, the Corporation must meet an obligation to pay invoices and property
management fees associated with the affordable housing development Terrell Homes, in which the
Corporation is the sole member of Terrell Homes, GP, LLC, the general partner of Terrell Homes,
Ltd.;
WHEREAS, the Board is being asked to approve a loan in an amount not to exceed $800,000
to Terrell Homes Ltd. through its general partner Terrell Homes GP, LLC or an affiliate, in order to
pay costs and provide needed property improvements;
WHEREAS, the Board reviewed the request for the loan and the attached proposed amended
budget for the 2025-2026 fiscal year during the Corporation's meeting on April 28, 2026, and
WHEREAS, the Board desires to adopt the amended Budget as presented for the
Corporation's 2025-2026 fiscal year.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE FORT WORTH HOUSING FINANCE CORPORATION:
1. THAT the Board approves the attached amended Budget for the. Corporation's 2025-
2026 fiscal year.
2. THAT the effective date of this Resolution is March 31, 2026.
AND IT IS SO RESOLVED.
Adopted April 28, 2026
FORT WORTH HOUSING FINANCE CORPORATION
By:
Q,,Ielh Beck, President
Attest:
Jannette S. Goodall
RESOLUTION NO. FWHFC-2026-31
PAGE 2
Proposed Fort Worth Housing Finance Corporation 2025-2026 Amended Budget
Revenues (NO CHANGE)
Project Cash Flow
Developer Fees
Affordable Housing Payments
Interest on Investments
Land Sales -Vacant Lots
Gas Lease -Royalties
Loan Repayments
Interest on Loans
Miscellaneous Revenue
Total
Expenditures
Affordable Housing Project Expense
Terrell Homes - Operating Loan
Terrell Homes -Mortgage Payoff
Transfer to City (Salaries)
PSH Supportive Services
Professional Services
HOME Match
Consultant Fees
Mowing HFC properties
Contractual services
Conferences, Seminars, Training
Audit Fees - CohnReznick
Dues, Membership & Renewals
Property, Liability & D&O Insurance
Office Supplies
Printing
Property Tax -Mineral Interest
Postage
Net Contribution to Fund Balance
Total Expenditures
Adopted 2025-2026 Amended Adopted Final
$700,000 --
$700,000
699,997 --
699,997
451,000 --
451,000
220,000 --
220,000
100,000 --
100,000
35,000 --
35,000
16,194 --
16,194
13,619 --
13,619
1,000 --
1,000
$2,236,810 $2,236,810
Adopted 2025-2026 Amended Adopted Final
$756,015
--
$756,015
458,657
800,000
1,258,657
--
2,000,000
2,000,000
313,680
--
313,680
255,000
--
255,000
200,000
(10,000)
190,000
157,017
--
157,017
100,000
(10,000)
90,000
47,090
--
47,090
25,000
--
25,000
20,000
--
20,000
20,000
--
20,000
16,320
--
16,320
15,000
20,000
35,000
500
--
500
500
--
500
350
--
350
100
--
100
(148,419)
--
(148,419)
$2,236,810
$2,800,000
$5,036,810