DATE: June 9, 2020
TO: Board of Supervisors
SUBMITTED BY: Steven E. White, Director
Department of Public Works and Planning
SUBJECT: HOME Agreement with Self Help Enterprises, Inc. for the Reedley Homeownership Project in the City of Reedley
RECOMMENDED ACTION(S):
TITLE
1. Conduct public hearing to receive testimony on proposed single family affordable housing development;
2. Amend the County's FY 2019-2020 Action Plan and 2015-2019 Consolidated Plan to add single family affordable housing development as an eligible activity under the County's HOME-funded Affordable Housing Development activity (Attachment 1);
3. Approve and authorize the Chairman to execute an Agreement with Self Help Enterprises, Inc. for HOME Investment Partnerships Program funds for the development of the Reedley Homeownership Project, an affordable housing project in the City of Reedley ($535,000); and
4. Authorize the Director of the Department of Public Works and Planning, or designee, upon review and approval by County Counsel as to legal form to execute all loan and related necessary documents for the Reedley Homeownership Project, including any amendments thereto, as shall be necessary for the purpose of developing the Project.
REPORT
Approval of the recommended actions will approve a loan in Federal HOME Investment Partnerships (HOME) funds for the development of the Reedley Homeownership Project (Project), an affordable housing project in the City of Reedley. The total development cost is estimated at $4,920,000. The balance of funds needed to complete the financing of the Project will be from non-County funds and include a variety of other public and private funding sources. The HOME agreement is with Self Help Enterprises, Inc (Borrower). a California non-profit public benefit organization. The recommended agreement expends the funds, over two phases, funding 20 single-family residences affordable to households at and below 80% of the average median income for Fresno ...
Click here for full text