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 $1.9 million State and Local Fiscal Recovery Funds (Part of the American Rescue Plan Act) Agreement with Better Opportunities Builder, Inc., an affiliate of the Housing Authority of the City of Fresno, for the conversion and rehabilitation of the former Econo Inn Motel into a 25-unit affordable multi-family affordable housing and workforce housing project.
Body
RECOMMENDATION
Staff recommends the City Council approve a $1.9 million State and Local Fiscal Recovery Funds (SLFRF) Agreement with Better Opportunities Builder, Inc. (Exhibit "A" - SLFRF Agreement), an affiliate of the Housing Authority of the City of Fresno, for its proposed Econo North Project that consists of the conversion and rehabilitation of the former Econo Inn Motel located at 1840 Broadway Street, into a 25-unit affordable multi-family workforce housing project.
EXECUTIVE SUMMARY
The City of Fresno (City) is proposing to enter into a State and Local Fiscal Recovery Funds (SLFRF) Agreement with Better Opportunities Builder, Inc., to convert and rehabilitate the former Econo Inn Motel into 25 units of affordable and workforce housing in order to advance the supply of affordable rental housing and workforce housing for the "missing middle" within the City.
BACKGROUND
On December 9, 2021, the City Council elected to use a portion of the City's SLFRF allocation to support the COVID-19 Public Health and Economic Response by addressing the impact on lower income households by using funds to help increase the supply of affordable housing and the creation of affordable housing, which is an eligible use of funds under the Act. Also, on March 24, 2022, the City Council adopted Resolution 202...
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