REPORT TO THE CITY COUNCIL
FROM: LUIS CHAVEZ, Councilmember
District 5
SUBJECT
Title
Actions pertaining to Sarah's Court Phase II Apartments, a 120-unit affordable multifamily housing project, to be located at 200 N. Salma Avenue in southeast Fresno as part of the Fancher Creek Master Plan Development (District 5):
1. Approve a Community Development Block Grant (CDBG) loan Agreement in the amount of $2.4 million with FCTC Family II, LP, for land acquisition; and
2. ***RESOLUTION - to support FCTC Family II, LP's Low-Income Housing Tax Credit Application for the development of Sarah's Court Phase II; and to provide a conditional commitment of HOME Investment Partnership Program (HOME) loan funds in an amount not to exceed $3 million to the Project (Subject to Mayor's veto)
Body
RECOMMENDATIONS
EXECUTIVE SUMMARY
BACKGROUND
ENVIRONMENTAL FINDINGS
Environmental Impact Report No. 10133, prepared for the Fancher Creek Project (EIR No. 10133) was certified by the Council of the City of Fresno on May 17, 2005, by Resolution No. 2005-183. EIR No. 10133 evaluated the construction of over 2,300 residential units in the entire 475-acre area for the Fancher Creek development, including 240 residential units in a mixed-use portion of the Town Center. On March 25, 2010, the Council adopted an Addendum to EIR No. 10133, dated June 29, 2009, which addressed a total of 740 residential units in the Town Center, which is an increase of 500 units. After adoption of the Addendum to EIR No. 10133, the Council approved a Development Agreement by and between the City of Fresno and Fancher Creek Properties, LLC which set forth the rights and responsibilities for development of the Fancher Creek Town Center, including the residential units within the Town Center Area. This approval is for a portion of the development of the Town Center as contemplated by the Development Agreement, EIR No. 10133, and the Addendum to EIR No. 10133. An analysis has been performed purs...
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