JOINT MEETING OF THE CITY COUNCIL, THE CITY OF FRESNO IN ITS CAPACITY AS HOUSING SUCCESSOR TO THE REDEVELOPMENT AGENCY OF THE CITY OF FRESNO, THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF FRESNO, AND FRESNO REVITALIZATION CORPORATION
FROM: MARLENE MURPHEY, Executive Director
MIGUEL A. ARIAS, Councilmember
District 3
SUBJECT
Title
Actions pertaining to the disposition and development of a 7.94-acre parcel (APN 477-060-04T) at the southeast corner of East Florence and Plumas Avenues for Heritage Estates, a 33-unit single-family housing development:
1. ***RESOLUTION -Finding Substantial Community Benefits that justify a price less than fair market value pursuant to Fresno Municipal Code Section 4-204 relating to the disposition of real property (Subject to Mayor's veto)
2. Approve a Disposition and Development Agreement between the City of Fresno in its capacity as Housing Successor and Fresno Housing Authority.
Body
RECOMMENDATION
It is recommended that the City of Fresno in its capacity as Housing Successor to the Redevelopment Agency (FHS), approve a Resolution Finding Substantial Community Benefits Resulting from the disposition of property to Fresno Housing Authority for less than fair market value and approve a Disposition and Development Agreement with Fresno Housing Authority (Housing Authority) for Heritage Estates, a 33-unit single family housing development.
EXECUTIVE SUMMARY
The FHS is proposing a Disposition and Development Agreement (DDA) with the Housing Authority for the construction of 33 single family homes in southwest Fresno located at the southeast corner of Florence and Plumas Avenues. The Agreement provides for the contribution of a 7.94-acre FHS- owned vacant parcel and a $1.2 million FHS loan to assist with construction and first- time home buyer mortgage assistance. In accordance with the Surplus Land Act (SLA) and as required by various funding sources, the homes will be eligible to households from a rang...
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