HomeMy WebLinkAboutSuccessor Agency Resolution - - SA-60 - 05/07/2026CITY COUNCIL RESOLUTION NO. 2026-81
SUCCESSOR AGENCY RESOLUTION NO. 60
FRESNO REVITALIZATION CORPORATION RESOLUTION NO. 28
A RESOLUTION OF THE COUNCIL OF THE CITY OF
FRESNO, CALIFORNIA, FINDING GOOD CAUSE AND
CLEAR AND CONVINCING BENEFIT TO THE PUBLIC
PURSUANT TO FRESNO MUNICIPAL CODE SECTION 4-
204 RELATING TO THE DISPOSITION OF REAL
PROPERTY IDENTIFIED AS ASSESSOR'S PARCEL
NUMBER 468-28-23T, 468-282-05T & 468-282-22T (815,
829 & 835 FULTON STREET)
WHEREAS, the City of Fresno (City) and the City of Fresno, in its capacity as
Housing Successor to the Redevelopment Agency of the City of Fresno (HSA) entered
into an Amended and Restated Disposition and Development Agreement (Agreement) on
February 26, 2026, for the sale of an approximate 0.80-acre urban infill site located on
the northwest corner of Fulton Street and Inyo Street, for the development of 174 units in
a mixed -income housing development, including 70 affordable units with rents at 50% -
80% of area median income (Project); and
WHEREAS, the City, HSA, and Developer desire to amend the Agreement to
extend the Outside Date for close of escrow and corresponding deadlines contained in
the Agreement's performance schedule; and
WHEREAS, pursuant to FMC Section 4-204, the City shall not approve any
purchase and sale agreement, disposition and development agreement, or any other
agreement that would cause or allow the City owned property to be conveyed, except
upon specified terms and conditions including that the Agreement shall not be extended
more than once; except upon making findings of good cause and clear and convincing
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Date Adopted: 05/07/2026
Date Approved: 05/07/2026
Effective Date: 05/07/2026
Resolution No. 2026-81
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benefits to the public by a supermajority approval of at least five votes; and
WHEREAS, Developer intends to fund a majority of the Project with bond
financing; and
WHEREAS, bond financing is impacted by global markets and subsequent to the
execution of the Agreement new international conflicts developed resulting in
approximately two weeks of inactivity in the bond markets; and
and
WHEREAS, both the City of Fresno and State of California are in a housing crisis;
WHEREAS, the City and Agency have a significant interest in encouraging the
construction of affordable and market rate housing to help address the current housing
crisis; and
WHEREAS, the Project will advance the goal for downtown development and
benefit the community.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Fresno as
follows:
1. The Council hereby makes findings of good cause and clear and convincing
benefit to vary from the provisions contained in FMC Section 4-204(d)(2) and allow for a
further extension of time to close escrow and corresponding deadlines contained in the
Agreement's performance schedule.
2. This resolution shall be effective upon final approval.
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STATE OF CALIFORNIA )
COUNTY OF FRESNO ) ss.
CITY OF FRESNO )
I, AMY K. ALLER, Interim City Clerk of the City of Fresno, certify that the foregoing
resolution was adopted by the Council of the City of Fresno, at a regular meeting held on
the 7th day of May 2026,
FRESNO REVITALIZATION VOTE
AYES : Perea, Karbassi, Arias, Maxwell, Vang, Esparza, Dyer
NOES : None
ABSENT : Richardson
ABSTAIN : None
CITY COUNCIL/SUCCESSOR AGENCY VOTE
AYES : Perea, Karbassi, Arias, Maxwell, Vang, Esparza
NOES : None
ABSENT : Richardson
ABSTAIN : None
Mayor Approval: May 7 , 2026
Mayor Approval/No Return: N/A 2026
Mayor Veto: N/A , 2026
Council Override Vote: N/A , 2026
APPROVED AS TO FORM:
ANDREW JANZ
City Attorney
By:
Tracy N. P anian Date
Assistant it Attorney,
AMY K. ALLER
Interim City C rk
By: L? a/ /,/
p�epZty� Date
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May 7, 2026
TO
M
MAYOR JERRY DYER
AMY K. ALLER
Interim City Clerk
Council Adoption: 05/7/2026
Mayor Approval:
Mayor Veto:
Override Request:
SUBJECT: TRANSMITTAL OF COUNCIL ACTION FOR APPROVAL OR VETO
At the City Council meeting of May 7, 2026, Council adopted the attached Resolution No.
2026-81 'RESOLUTION - Finding good cause and clear and convincing benefit to
the public pursuant to Fresno Municipal Code Section 4-204 relating the disposition
of real property identified as Assessor's Parcel Number 468-28-23T, 468-282-05T &
468-282-22T (815, 829 & 835 Fulton Street) (Requires 5 Affirmative Votes) (Subject to
Mayor's Veto) 9:20 AM-1, File ID 26-591 by the following vote:
Ayes : Perea, Karbassi, Arias, Maxwell, Vang, Esparza
Noes :None
Absent : Richardson
Abstain : None
Please indicate either your formal approval or veto by completing the following sections and
executing and dating your action. Please file the completed memo with the Clerk's office on
or before May 18, 2026. In computing the ten day period required by Charter, the first day
has been excluded and the tenth day has been included unless the loth day is a Saturday,
Sunday, or holiday, in which case it has also been excluded. Failure to file this memo with
the Clerk's office within the required time limit shall constitute approval of the ordinance,
resolution or action, and it shall take effect without the Mayor's signed approval.
(:APPROVED 1 O RETURN:
VETOED for the following reasons: (Written objections are required by Charter; attach
additional sheets if necessary.)
Jerry,ay' er, Mayor
COUNCIL OVERRIDE ACTION:
Ayes
Noes
Absent
Abstain
Date:
,..a
Date:
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