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 $2.7 million HOME Investment Partnerships Program Agreement with Fresno 1101 Parkway, LP for the proposed Sun Lodge project which consists of the rehabilitation of the former Days Inn Motel and the introduction of new construction to the site, to create a 64-unit affordable housing project in west central Fresno (District 3).
Body
RECOMMENDATION
Staff recommends the City Council approve a $2.7 million HOME Investment Partnerships (HOME) Program Agreement (Exhibit "A" - HOME Agreement) with Fresno 1101 Parkway, LP for the proposed Sun Lodge project which consists of the rehabilitation of the former Days Inn Motel and the introduction of new construction to the site, to create a 64-unit affordable housing project in west central Fresno (Exhibit "B" - Project Location Maps), of which 11 units will be HOME-funded, and authorize the City Manager to execute all implementing documents.
EXECUTIVE SUMMARY
Fresno Housing Authority applied to the City's 2021-2022 Notice of Funding Availability (NOFA) for the development of affordable housing for its Sun Lodge project. Upon its receipt of an allocation of 2021 tax credits the Sun Lodge Project was selected for HOME funding. The project cost is estimated at $30,900,171, of which $2.7 million is proposed to be funded with HOME Program funds which will represent approximately 8% of the total cost. Once completed, The Sun Lodge project will provide 64 converted motel units into affordable housing units, of which 11 units will be HOME-funded units with an affordability period of 55 years.
BACKGROUND
On June 18, 2021, the Housing and Community Development Division released a 2021-2022 NOFA for HOME, CHDO, and PLHA f...
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