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 Fort Worth Housing Finance Corp. looks for new revenue for affordable housing

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 Fort Worth Housing Finance Corp. looks for new revenue for affordable housing

by Scott Nishimura, Fort Worth Report
May 16, 2026

The Fort Worth Housing Finance Corp. continues to look for new ways to generate revenue.

Kacey Thomas, Fort Worth’s neighborhood services director, addressed concerns about the entity’s balance sheet at its April 28 meeting.

“While we’ve been able to invest in a number of housing developments over the past few years, part of the conundrum with that is that our fund balance has dipped down,” Thomas said, referring to the difference between revenue and expenditures.

The Housing Finance Corp. — created in 1979 to help the city acquire land and develop, finance and build safe affordable housing — conducted a benchmark study comparing it to other Texas cities and identified potential sources of additional revenue.

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The city of Arlington was the smallest peer considered. The cities of Houston and Dallas are the only two cities that don’t have city staff involved in management of their corporations.

The study found that Houston’s housing finance corporation had the largest revenue stream, with $6.2 million. Dallas followed at $4.2 million and Austin at $3.8 million. The city of Fort Worth had $2.3 million in revenue.

Houston and Dallas both issue bonds to generate revenue. While Fort Worth does not issue bonds, it shares other characteristics with the two cities, including making money from interest on loans and investments.

“And then for the Fort Worth Housing Finance Corp., our biggest drive really has been project cash flow,” Thomas said.

The Housing Finance Corp. participated in several partnerships that have forgivable loans or loans that don’t carry interest. Such arrangements helped make projects viable, but they mean no revenue comes back.

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The corporation recently shifted practices, Thomas said.

“We have had a few loans that we are charging interest and they are not forgivable,” Thomas said. “This does represent a consistent cash flow back to the HFC.” An example she provided was a $1.75 million loan at 4% would equate to roughly $70,000 per year in revenue.

For the Housing Finance Corp., another potential revenue stream is selling lots it owns. The organization owns 140 lots, with seven obligated for sale to a community land trust.

Between those obligated lots and potential sale of another lot to a healthcare provider, the Housing Finance Corp. will receive nearly $1 million in revenue, Thomas said. They would use this revenue to reinvest in other lots that it could sell later.

Other potential revenue streams would be via partnerships, fees and assignment of tax rebates instead of property owners. The intention this summer is to iron out details on lending money for development and partnerships, Thomas said.

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Patrick Banis is a member of the Fort Worth Report’s Documenterscrew. If you believe anything in this account is inaccurate, please email us at news@fortworthreport.orgwith “Correction Request” in the subject line.

This <a target=”_blank” href=”https://fortworthreport.org/2026/05/16/fort-worth-housing-finance-corp-looks-for-new-revenue-for-affordable-housing/”>article</a> first appeared on <a target=”_blank” href=”https://fortworthreport.org”>Fort Worth Report</a> and is republished here under a <a target=”_blank” href=”https://creativecommons.org/licenses/by-nd/4.0/”>Creative Commons Attribution-NoDerivatives 4.0 International License</a>.<img src=”https://i0.wp.com/fortworthreport.org/wp-content/uploads/2021/04/cropped-favicon.png?resize=150%2C150&amp;ssl=1″ style=”width:1em;height:1em;margin-left:10px;”>

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Crystal City ISD laying off 25% of staff amid financial crisis

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Crystal City ISD laying off 25% of staff amid financial crisis
FILE – Crystal City ISD Administration Building (Google Earth)

CRYSTAL CITY, Texas – Seventy-two employees of the Crystal City Independent School District are being laid off as part of the district’s plan to prevent “imminent financial collapse,” according to a letter posted by the district Thursday.

The district filed for financial exigency with the Texas Education Agency last month after leaders realized the severity of its financial issues.

Crystal City ISD interim superintendent Grill said the cuts were “emotional and unfortunate,” but said the situation could have been avoided “by not overspending and overemploying.”

Nearly 90% of the district’s operational budget is spent on employee payroll and benefits, the letter said, which is “far above” the recommended level of about 75%.

The district said it now faces “significant debt obligations” after spending $10.6 million in reserve funds, including:

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  • A repayment of a $4.5 million loan with interest to cover employee payroll through August 31

  • A repayment of a $2.7 million loan taken from the district’s Interest and Sinking & bond account

  • Reduce payroll and benefit expenses by about $3.4 million

  • Pay off $1.1 million in unpaid debt

  • Unknown costs tied to deferred facility maintenance, transportation repairs.

KSAT reported that Crystal City ISD laid off 32 employees in late 2024 because of financial issues.

The district said it expects to continue implementing cost-saving measures throughout the summer.


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Athol Finance Committee recommends passing 30 of 34 Town Meeting articles – Athol Daily News

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Athol Finance Committee recommends passing 30 of 34 Town Meeting articles – Athol Daily News

Overview:

The Athol Finance and Warrant Advisory Committee recommended passing 30 of the 34 Town Meeting articles, with two recommended against and two held until the next meeting. The two articles that were not recommended for passage dealt with the town’s responsibility for maintenance of private roadways. Article 29 would amend the town’s bylaws to allow temporary repairs to be made to private ways, while Article 34 would require the town to minimally maintain all asphalt private roads. The committee decided to delay action on Articles 7 and 21 until the Selectboard addresses the issue at its meeting on Tuesday.

ATHOL – A recent meeting of the Finance and Warrant Advisory Committee saw a recommendation to pass 30 of the 34 Town Meeting articles, with two recommended against and the two more held until the next meeting.

In light of the uncertainty over the details of Article 29 and concerns regarding Article 34, a citizen’s petition, the committee voted unanimously not to recommend passage. The two articles each have to do with the town’s responsibility relative to maintenance of private roadways, including temporary repairs and plowing.

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Article 29 would amend Chapter V, Section 33 of the town’s bylaws by removing the wording of Section 33 in its entirety and replacing it with new language. This section of the bylaw deals with the maintenance of private ways.

The new wording describes temporary repairs as including “grading and/or the filling of holes or depressions, as the superintendent of public works may deem suitable…[I]n no event shall such temporary repairs include extensive construction, reconstruction or installation of drainage.” The work would be done at the discretion of the highway superintendent.

The article also states that a petition from three-fourths of the abutters on a private way asking for temporary repairs can be presented to the Selectboard and forwarded to the Department of Public Works director. It will be up to the director to determine whether the requested repairs constitute a “public necessity.” The Selectboard will then vote to either approve or deny the petition following a public hearing.

Committee Chair Ken Duffy pointed out the existing bylaw requires petitions to be signed by all of the abutters. DPW Director Paul Raskevitz. added that, while the property of abutters on most private ways extends to the middle of the road, King Road is different.

“That one whole road is owned by one person on the end,” Raskevitz said at the committee’s meeting on May 12.

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Article 29 also states that, if a petition is approved, the town manager must then determine if funds are available to do the work, “whether the financing…requires an appropriation, or borrowing.” If approved, the Selectboard must also determine if abutters will be assessed betterment charges and whether they will be required to put down a cash deposit for the work.

Article 34, submitted as a citizen’s petition from residents of King Road and other private ways, would maintain the wording of Chapter V, Section 33, relative to private roads. It also calls for the town to “minimally maintain all asphalt private roads” in the town. Such maintenance would include annual filling of potholes “with use of only asphalt or asphalt-based materials” and “minimal repairs of road drainage issues,” such as repairs to culverts.

“I was out on King Road Sunday,” said committee Chair Ken Duffy. “That first quarter mile is a bomb field. I know nothing about roads, but to me, we don’t have enough patch in this town for that section. That first two-tenths of a mile has got to be right down to the ground, to the dirt.”

“The problem is the lowest part,” said DPW Director Paul Raskevitz. “After it rains, it’s covered in standing water everywhere.”

Regarding the articles, said Duffy, “I think we have to think long and hard about what we’re getting into. After Article 29, the petition article says all the town roads are to be maintained, including that potholes be filled.”

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Raskevitz said there are currently 33 private roads in Athol totaling about three miles in length. Of that number, only seven are plowed by the town in winter, through a memorandum of understanding approved by the Selectboard.

“Plowing it is one thing,” said Duffy. “Maintaining is a whole different ballgame.”

Town Manager Shaun Suhoski said the current wording for Article 29 is “just a placeholder,” adding that the Selectboard will look at a shorter version at its meeting on Tuesday, May 19.

“It’s a little too close to Town Meeting to change it,” Suhoski said. “I think we’re going to need a fall meeting this year.”

The articles on which the committee decided to delay action were Articles 7 and 21, both of which will be taken up by the Selectboard at its meeting on Tuesday. Article 7 deals with the proposed town budget for FY 27, while Article 21 asks for a transfer of $100,000 from free cash to the account set aside for “demolishing or securing unsafe structures.”

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Several committee members, including Mike Butler and Vice Chair Ben Feldman said that, at this juncture, they opposed such a transfer. Both decided to wait until the committee’s meeting next Wednesday to see how the Selectboard addresses the issue at its Tuesday meeting before entertaining a motion to not recommend Article 21.

The Selectboard meeting on Tuesday, May 19, begins at 7 p.m. in Room 21 at Town Hall. The May 20 meeting of the Finance and Warrant Advisory Committee starts at 5:30 p.m., also in Room 21. Town Meeting takes place on June 8.

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