REPORT TO THE CITY COUNCIL
January 16, 2020
FROM: JENNIFER CLARK, Director
Planning and Development Department
THROUGH: THOMAS MORGAN, Manager
Housing and Community Development Division
BY: CORRINA NUNEZ, Project Manager
Housing and Community Development Division
SUBJECT
Title
Approve a $1,420,500 HOME Investment Partnerships Program Agreement with FCTC Senior, LP for the construction of 180 affordable senior rental housing units at the Fancher Creek Master Plan Development site located at Marion Avenue and Fancher Creek Drive in southeast Fresno. (District 5)
Body
RECOMMENDATIONS
Staff recommends the City Council approve a $1,420,500 HOME Investment Partnerships (HOME) Program Agreement (Exhibit "A" - HOME Agreement) with FCTC Senior, LP, (Developer) for the construction of 180 affordable senior rental units at the Fancher Creek Master Plan Development site located at Marion Avenue and Fancher Creek Drive in southeast Fresno (Exhibit "B" - Project Location Map); and authorize the City Manager to sign all implementing documents required by the U.S. Department of Housing and Urban Development (HUD), approved as to form by the City Attorney's Office.
EXECUTIVE SUMMARY
On May 9, 2017, Dominus Consortium, LLC was selected through a February 2017 Notice of Funding Availability (NOFA) to receive $1,420,500 in 2017-2018 HOME Program funds for its Fancher Creek Senior Housing Project, a 180-unit affordable senior rental housing project located in southeast Fresno (Project). In a February 28, 2019, the staff report to Council for the approval of Community Development Block Grant (CDBG) funds to the Project, staff informed Council that this HOME Agreement would be forthcoming for consideration. The $1,420,500 in HOME Program funding is expected to complete financing of the Project.
BACKGROUND
On February 10, 2017, the Housing and Community Development Division released a NOFA for 2017-2018 HOME funding. In response to the NOFA, the Ci...
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