REPORT TO THE CITY COUNCIL
FROM: JENNIFER CLARK, Director
Planning and Development Department
THROUGH: PHIL SKEI, Assistant Director
Planning and Development Department
BY: CORRINA NUNEZ, Project Manager
Housing and Community Development Division
SUBJECT
Title
Approve a $2.5 million State and Local Fiscal Recovery Funds (part of the American Rescue Plan) Agreement with Fresno 1101 Parkway, LP for the proposed Sun Lodge project, which consists of the rehabilitation of the former Days Inn Motel and the introduction of new construction at the site to create 64 affordable permanent housing units in west central Fresno (District 3)
Body
RECOMMENDATION
Staff recommends the City Council approve a $2.5 million State and Local Fiscal Recovery Funds (SLFRF) Agreement (Exhibit "A" SLFRF Agreement) with Fresno 1101 Parkway, LP, for the proposed Sun Lodge project which consists of the rehabilitation of the former Days Inn Motel and the introduction of new construction at the site to create 64 affordable permanent housing units in west central Fresno and authorize the City Manager to execute all implementing documents.
EXECUTIVE SUMMARY
Previous project financing closed escrow on June 6, 2022, with a $2.5 million placeholder in Housing Relinquished Fund Corporation funds approved by the Housing Authority of the City of Fresno (Housing Authority) contingent upon the City's subsequent takeout financing of $2.5 million in SLFRF in accordance with the May 31, 2022, City Council Resolution 2022-130.
BACKGROUND
On May 31, 2022, Council approved a resolution supporting the Housing Authority's development and construction of affordable housing at 1101 N. Parkway Drive and expressing the City's intent to contribute to the project an amount not to exceed $2.5 million. Staff is recommending a $2.5 million-dollar SLFRF agreement to fulfill Council's resolution.
As presented to the City Council's ad hoc committee on CDBG on December 12, 2...
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