DATE: March 17, 2026
TO: Board of Supervisors
SUBMITTED BY: Steven E. White, Director
Department of Public Works and Planning
SUBJECT: Potential Agreements with Reedley Elderly L.P. and Selma Elderly L.P. (Each Limited Partnership with Self-Help Enterprises Acting in the Role of Developer) to Preserve, Rehabilitate, and Operate 11 Units (22 Units Combined) of Affordable Multifamily Senior Rental Housing for an Estimated 15-55 Years in the Cities of Reedley and Selma
RECOMMENDED ACTION(S):
TITLE
1. Approve and authorize Chairman, upon Self-Help Enterprises (in their capacity as the General Partner for the Reedley Elderly L.P.) having secured firm, written commitments and executable documents of all necessary funding sources prior to March 30, 2026, and upon review and approval by the Department of Public Works and Planning (Department) as to final underwriting and subsidy layering analyses, County Counsel as to legal form, and Auditor-Controller/Treasurer-Tax Collector (ACTTC) as to accounting form, to execute the HOME Agreement with Reedley Elderly L.P. to effect a loan of Federal U.S. Department of Housing and Urban Development (HUD) HOME Investment Partnerships (HOME) program funds at anywhere from 0% to 3% simple interest, with loan repayment terms (inclusive of later conversion to a grant) and an Affordability Period and loan period of anywhere from 15 to 55 years, each as may be mutually agreeable to both County and Reedley Elderly L.P., and in support of the County's underwriting requirements for the preservation, rehabilitation, and operation of 11 units within the 23-unit Reedley Heritage (formerly Reedley Elderly), an affordable multifamily senior rental housing project in the City of Reedley (the Reedley Project), effective upon execution, for an estimated term of 16 to 58 years, so long as the document (A) is similar to the example HOME Agreement provided here and does not contain terms materially adverse to the County, (B) is consistent with the C...
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