Actions pertaining to the Assignment and Assumption of the OPS Villas, LP HOME Investment Partnerships loan documents and the Oak Park Senior Villas property located at 2597 S. Richelle Avenue, 93725, in southeast Fresno (District 5): 1. Invoke exception to the Better Business Act pursuant to Section 2(b), as amended by Resolution No. 2013-166 (Requires Five Affirmative Votes) 2. Approve write-down and write-off of the existing loans totaling $4,885,000 ($4,185,000 and $700,000) and approximately $1.4 million in accrued interest to a revised amount of $2,598,148 at 2% interest, payable from 50% of the property’s annual residual receipts with principal and interest due in full on July 1, 2081, the loan maturity date 3. Approve Assignment and Assumption Agreement with OPS Villas, LP and Housing Authority of the City of Fresno 4. Authorize the City Manager to sign all implementing documents (Agreement, revised Declaration of Restrictions, and Note) required for the assignment and assumption, approved as to form by the City Attorney’s Office.

Action Item Agenda Ready Introduced August 3, 2026

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