Actions pertaining to the conversion of the former Parkside Inn Motel into a 38-unit residential affordable housing project, located at 1415 W. Olive Avenue, Fresno 93728 (District 3): 1. Approve a Community Development Block Grant (CDBG) Loan Agreement in the amount of $3 million with Silvercrest, Inc., for property acquisition of the former Parkside Inn Motel; and 2. ***RESOLUTION - To support Silvercrest, Inc., a California Non-Profit Public Benefit Corporation’s Low-Income Housing Tax Credit Application for the substantial rehabilitation of the form Parkside Inn; and to provide a conditional commitment of HOME American Rescue Plan (HOME-ARP) Program loan funds in an amount not to exceed $858,000 to the Project (Subject to Mayor’s Veto)

What this record is

Held by

Silvercrest, Inc 2 records across this site

Amount

$858K

Runs until

Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗

Type

contract

Field

Public safety

public safety contracts in CA that end within a year →
Governments publish the end date in the award. That date is when the work goes back out to bid, and it is usually stated years ahead.

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Silvercrest, Inc also holds

Actions pertaining to the substantial rehabilitation of the former Parkside Inn Motel site, located at 1075 N. Warren Avenue, into a 63-unit affordabl… $3.86M Fresno, CA

Committee

City Council

Requested by

Planning and Development Department

Introduced

February 9, 2024

On agenda

March 7, 2024

Passed

March 7, 2024

Where it was heard

City Council Mar 7, 2024 ADOPTED Pass

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