HomeMy WebLinkAbout2014/01/28-Minutes-Fort Worth Housing Finance Corporation (FWHFC) CITY OF FORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY, JANUARY 28, 2014
Present:
President Salvador Espino (Arrived at 8: 21 a.m.)
Vice President Danny Scarth
Director Betsy Price
Director W. B. "Zim" Zimmerman
Director Gyna Bivens
Director Jungus Jordan
Director Dennis Shingleton
Director Kelly Allen Gray
Director Joel Bums (Arrived at 8:21 a.m.)
City staff:
Tom Higgins, City Manager
Fernando Costa, Assistant City Manager
Vickie Ganske, Senior Assistant City Attorney
Mary J. Kayser, City Secretary
Jay Chapa, Assistant General Manager
1. Call to Order.
With a quorum present, Vice President Scarth called the meeting to order for the Board of
Directors of the Fort Worth Housing Finance Corporation (Corporation) at 8:18 a.m. on Tuesday,
January 28, 2014, in the Pre-Council Chamber of the Fort Worth Municipal Building, 1000
Throckmorton Street, Fort Worth, Texas.
2. Approval of Minutes of the November 5, 2013, Meeting.
Motion was made by Director Shingleton and seconded by Director Bivens to approve the
Tuesday, November 5, 2013, minutes of the Corporation as presented. The motion passed 7-0
with President Espino and Director Bums temporarily absent.
3a. Written Reports: Fort Worth Housing Finance Corporation Financial Report through
December 31, 2013.
Vice President Scarth referenced the Financial Report through December 31, 2013, and opened
the floor for discussion on the report. There was no discussion or action on this agenda item.
4. Consider and Adopt Resolutions Approving the Actions of the Corporation as Sole
Member of Decatur-Angle GP LLC, the General Partner of Decatur-Angle Ltd.,
Approving all Actions Necessary for the Acquisition, Financing, Development and
Operation of the Decatur-Angle Apartments.
CITY OF FORT WORTH,TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY,JANUARY 28,20'14
PAGE 2
5. Consider and Adopt Resolution Authorizing the Acquisition of Land Located at Angle
Avenue and Old Decatur Road for the Development of the Decatur-Angle Apartments and
Entering into a 99-Year Ground Lease with Decatur-Angle Ltd., for the Land
Mr. Jay Chapa, Assistant General Manager, advised the Board that his briefing would pertain to
Items 4 and 5 on the agenda and that the Board could take action by a single motion.
Mr. Chapa provided a PowerPoint briefing entitled "Required Board Actions for the Decatur-
Angle Apartments Project. His first slide displayed an aerial view of the development site and
he advised of the current status of the project as well as the timeline for the project. He
completed his presentation with the staff recommendation that the Board approve both
resolutions to approve the actions of the HFC as sole member of Decatur-Angle GP LLC, the
general partner of Decatur-Angle Ltd. acquiring, financing, developing and operating the
development, and approve the HFC acquiring and entering into a 99-year ground lease with
Decatur-Angle Ltd. for the land and the development.
(President Espino and Director Burns assumed their places at the table.)
There was no discussion on either Item 4 or 5.
Motion was made by Director Shingleton and seconded by Director Bivens to approve
Resolution FWHFC-2014-01 and FWHFC-2014-02. The motion passed 9-0.
6. Executive Session.
Vice President Scarth stated that he had been advised that an Executive Session was not
necessary to discuss the following items:
A. Seek the advice of its attorneys concerning the following items that are exempt
from public disclosure under Article X, Section 9, of the Texas State Bar Rules, as
authorized by Section 551.071 of the Texas Government Code: (i) legal issues
concerning any current agenda item; and
B. Discuss the purchase, sale, lease or value of real property, as authorized by Section
551.072 of the Texas Government Code. Deliberation in an open meeting would
have a detrimental effect on the position of the Corporation in negotiations with a
third party; and
C. Discuss or deliberate negotiations relating to any economic development
negotiations, as authorized by Section 551.087 of the Texas Government Code.
7. Requests for Future Agenda Items.
Vice President Scarth opened the floor on requests for future agenda items. No requests were
made by Board members.
CITY OF FORT WORTH, TEXAS
FORT WORTH HOUSING FINANCE CORPORATION
TUESDAY,JANUARY 28,2014
PAGE 3
8. Adjourn.
With no further discussion, Vice President Scarth adjourned the meeting of the Fort Worth
Housing Finance Corporation Board at 8:22 a.m. on Tuesday, .January 28, 2014.
These minutes approved by the Fort Worth Housing Finance Corporation Board of Directors on
the 4th day of March, 2014. '"
AP V
Da el L. carth
Vice President
Gyna MUBivens
Secretary
ATTEST:
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Mary J. Kay'"er
City Secretary