REPORT TO THE CITY COUNCIL
FROM: JERRY DYER, Mayor
Office of Mayor & City Manager
BY: MATTHEW GRUNDY, Deputy Mayor
Office of Mayor & City Manager
PHIL SKEI, Assistant Director
Planning & Development Department
SUBJECT
Title
Actions related to the One Fresno Housing Strategy to fund a Mixed Income Neighborhood Trust:
1. Adopt a finding of Categorical Exemption pursuant to Section 15301/Class 1 of the California Environmental Quality Act (CEQA) Guidelines
2. ***RESOLUTION - Approving funding for Central Fresno Neighborhood Trust to Implement a Mixed Income Neighborhood Trust Program (Subject to Mayor's Veto)
3. Approve a State and Local Fiscal Recovery Funds Grant Agreement with the Central Fresno Neighborhood Trust for $1,950,000 to acquire and rehabilitate 50 rent restricted affordable housing units
Body
RECOMMENDATION
Staff recommends approval of funding for the Mixed Income Neighborhood Trust (MINT) as recommended in the One Fresno Housing Strategy
EXECUTIVE SUMMARY
As part of the fiscal year 2023 budget planning cycle efforts, the City proposed the allocation of $40 million of American Rescue Plan Act (ARPA) funding to support the execution of the One Fresno Housing Strategy. This was affirmed by City Council in its adoption of the budget on June 30, 2022.
On September 29, 2022, the Mayor recommended Central Fresno Neighborhood Trust be funded with State and Local Fiscal Recovery Funds (SLFRF) funds (Exhibit "B" - SLFRF Agreement) for the acquisition and subsequent rehabilitation of 50 affordable rental housing units in central Fresno. The attached Agreement provides for the terms and conditions of the proposed eligible activities to be funded with SLFRF. Funding will be in the form of a grant that will reimburse eligible activities including acquisition of existing rental properties, rehabilitation, and leasing of the affordable rental units to income eligible households for a minimum affordability period of 55 years. Due to the ...
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