The Tarrant County Housing Finance Corporation convened on June 28, 2024, to address several key items, including the approval of previous meeting minutes and the filing of municipal advisory disclosures related to the Renaissance Square 3 and Wildwood Branch projects. The board unanimously approved the minutes and the disclosures, acknowledging Hilltop Securities' advisory role in these developments.

A significant amendment to the Hilltop agreement was also discussed, which eliminated a long-standing monthly retainer fee that had been in place for over 15 years. This change, effective June 30, 2024, was welcomed by board members and passed unanimously.

The meeting then shifted focus to bond issuances, specifically for the Renaissance Square project, which is set to be the third phase of a multifamily housing development. The project will involve the construction of 100 new units, with a bond authorization request of $25 million. The financing will be facilitated through a private placement with Citibank, with a maturity date set for August 2058. Board members expressed concerns regarding past crime issues associated with the earlier phases of the project but noted that occupancy rates had remained high.

Discussions highlighted the need for safety measures in the new development, with board members suggesting that conditions could be placed on the approval of the bond issuance to enhance security for residents. The board acknowledged the importance of ensuring that the project contributes positively to the community's quality of life.

Concerns were raised by a member of the ad hoc committee regarding the inclusion of 25 permanent supportive housing units for chronically homeless individuals in the project. This aspect raised apprehensions about the potential impact on the neighborhood, given the substantial federal subsidy involved—$8.5 million, the highest ever allocated for a housing project in Tarrant County. The committee member emphasized the need for careful consideration of the social service provider involved and the overall implications for the community.

Ultimately, the board voted to approve the resolution for the Renaissance Square 3 Apartments, while also agreeing to gather further data on crime statistics in the area to inform future discussions and decisions regarding safety measures for the development.