REPORT TO THE CITY COUNCIL
December 1, 2016
FROM: RENENA SMITH, Assistant City Manager
City Manager Office
SUBJECT
Title
Approve a First Amendment to the Amended and Restated Agreement for Purchase Option and Right of Access between Cesar Chavez Foundation and the City of Fresno
Body
RECOMMENDATION
Staff recommends the City Council approve the First Amendment to the Amended and Restated Agreement for Purchase Option and Right of Access between Cesar Chavez Foundation and the City of Fresno and authorize the City Manager or designee to execute any implementing documents.
EXECUTIVE SUMMARY
The Cesar Chavez Foundation (CCF) was successful in its application in the Affordable Housing and Sustainable Communities Program (AHSC) created by Senate Bill 862 (2014) to reduce greenhouse gas emissions through projects that implement land use, housing, transportation, and agricultural land preservation practices to support infill and compact development. The First Amendment to the Amended and Restated Agreement for Purchase Option and Right of Access (First Amendment) between CCF and the City of Fresno (City) provides twelve additional months for the developer to execute the option. Upon approval of the First Amendment, the parties will also record a revised Memorandum of Option to memorialize the twelve-month extension.
BACKGROUND
The AHSC Program explicitly funds projects through affordable housing loans, and capital grants for housing-related infrastructure, sustainable transportation infrastructure, transit related amenities, and other related programs. Strong applications for the AHSC Program include both affordable housing components tied to transportation infrastructure improvements that improve access to transit as well as safety for pedestrians and bicyclists in the vicinity of the housing.
On September 30, 2016, CCF was notified that its project will be funded through the AHSC Program. CCF's current option expires on December 29, 2016, an...
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