ID 26-1050
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.
What this record is
- Amount
- $4.88M
- Runs until
- Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗
- Type
- contract
- Field
- Health & social
health & social 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.
Read automatically from the title of the official record. The source document below is authoritative.
- Committee
- City Council
- Requested by
- Planning and Development Department
- Introduced
- August 3, 2026
- On agenda
- August 27, 2026
Where it was heard
City CouncilWatch what Fresno buys
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