REPORT TO THE CITY COUNCIL
FROM: JENNIFER K. CLARK, Director
Planning and Development Department
THROUGH: PHIL SKEI, Assistant Director
Planning and Development Department
BY: MAYRA MERINO, Senior Management Analyst
Planning and Development Department
SUBJECT
Title
Actions pertaining to Uptown L.P. for the Uptown Apartments rental housing development located at 1510 Van Ness Avenue in Downtown Fresno (Council District 3)
1. Adopt a finding of a Categorical Exemption per staff's determination, pursuant to Section 15332/Class 32 of the California Environmental Quality Act (CEQA) Guidelines, Environmental Assessment No. P21-02255/P21-01805.
2. ***RESOLUTION - in support of a contribution of City Funds from the Revolving Loan Fund in an amount not to exceed $8,000,000 toward the housing development project located on 1510 Van Ness Ave, Fresno California (Subject to Mayor's Veto) (City Council District 3)
Body
RECOMMENDATION
Staff recommends that the City Council 1) adopt a finding of a Categorical Exemption per staff's determination, pursuant to Section 15332/Class 32 of the California Environmental Quality Act (CEQA) Guidelines and 2) approve a resolution authorizing a conditional commitment not to exceed $8,000,000 in City funds from the Revolving Loan Fund (RLF) to Uptown L.P. for the Uptown Apartments rental housing development located at 1510 Van Ness Avenue in Downtown Fresno.
EXECUTIVE SUMMARY
The Uptown Apartments project is a new construction, mixed-use housing and retail development comprised of five buildings that will include 48 market-rate units. The City's RLF loan will provide gap financing for eligible soft and hard construction costs. The loan will be provided at a variable interest rate estimated at 4.81% over a 60-month term and secured by a deed of trust. The project advances the City's housing production goals and contributes to the continued revitalization of Downtown Fresno.
BACKGROUND
On February 13, 2026, the City of Fresn...
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