HomeMy WebLinkAboutFWHFC-2026-32 - Fort Worth Housing Finance Corporation (FWHFC) - ResolutionRESOLUTION NO. FWIIFC-2026-32
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION
APPROVING THE ACCEPTANCE OF FUNDING TO SUPPORT AFFORDABLE
HOUSING RELATED TO THE CITY'S CHAPTER 380 ECONOMIC DEVELOPMENT
POLICY AND THE CITY'S ECONOMIC DEVELOPMENT TAX ABATEMENT
POLICY
WHEREAS, the City Council of the City of Fort Worth ("City") has adopted development
and revitalization of the City's neighborhoods and affordable housing stock as a strategic goal, and
City residents and the City Council have determined that quality accessible affordable housing is
needed for moderate, low and very low-income City residents;
WHEREAS, the City Council created the Fort Worth Housing Finance Corporation (the
"Corporation") in 1979 pursuant to the Texas Housing Finance Corporations Act, Chapter 394
of the Texas Local Government Code, to facilitate neighborhood revitalization and housing
initiatives in the City, including but not limited to issuing tax exempt bonds; developing,
rehabilitating and promoting housing; and assisting low to moderate income City residents in
acquiring quality, accessible, affordable housing through lending and construction activities;
WHEREAS, the City's Economic Development Department oversees an Economic
Development Program Policy for Grants and Loans Authorized by Chapter 380 of the Texas Local
Government Code ("380 Policy") and a General Tax Abatement Policy ("TA Policy") (both
policies are collectively referred to herein as, "the ED Policies");
WHEREAS, the ED Policies were amended in December 2025 to provide for a new
mechanism by which affordable housing support can be funded;
WHEREAS, the ED Policies now provide that all projects subject to a City Economic
Development Program Agreement or Tax Abatement Agreement that contain residential units will
earn annual grants or receive annual tax abatements ("ED Funds") for the term of the agreement
that equals five percent (5%) of the incremental City taxes on property associated with the project;
WHEREAS, the ED Funds will be paid to the Corporation in accordance with the ED
Policies so that a percentage of the value delivered by new economic development projects can be
used for the purpose of promoting the development or provision of affordable housing in the City;
WHEREAS, staff recommends that the Corporation's Board of Director's ("Board")
approve this resolution authorizing the acceptance of ED Funds, and approving all related actions
necessary for the receipt of such funds.
RESOLUTION NO. FWHFC-2026-32
PAGE
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE FORT WORTH HOUSING FINANCE CORPORATION:
1. THAT the Board authorizes the Corporation to accept funds related to the City's Chapter
380 Economic Development Policy and the City's Economic Development Tax Abatement
Policy and to undertake all related actions necessary for the receipt of such funds.
2. 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 documents, including agreements, deemed necessary to
effectuate the receipt of the funds described herein.
3. THAT this Resolution takes effect on the date of its adoption.
AND IT IS SO RESOLVED.
Adopted June 23, 2026.
FORT WORTH HOUSING FINANCE CORPORATION
By:
J Elizabeth M�'Beck, President
Attest:
Jannette S. Goodall