6,696 SF FL FL TRASH RECYCLING BLDG 125+ RESIDENTIAL TYPE C - 8 APTS 7,504 SF BLDG 129+ RESIDENTIAL TYPE D - 8 APTS 10,016 SF BLDG 145+ RESIDENTIAL

Transcription

1 Exhibit E - Phase II Site Plan VICINITY MAP TYPICAL CURB RAMP /"='-0" ACCESSIBLE SIGNAGE /"='-0" PROJECT LOCATION 0 LEGEND B E. LORENA AVENUE A 0 6 PARK TOT-LOT 0 A PHASE : BUILDING 0+ TYPE B: APT BLDG 6,696 SF SITE PERIMETER FENCE /"='-0" ACCESSIBLE /"='-0" 0 KEY TES 9 A 6 5 TRASH RECYCLING 5 BLDG + TYPE B - APTS 6,696 SF 6 6 ADJACENT PROPERTY 5 BLDG + TYPE A - APTS 9, SF PHASE : BLDG 09+ TYPE A APT BLDG 9, SF A 9 BLDG 5+ TYPE C - APTS,50 SF 0 OUTDOOR ACTIVITY AREA A 0 5 BLDG 9+ TYPE D - APTS 0,06 SF TOT-LOT 5 6 BLDG + TYPE C - APTS,50 SF A GENERAL TES 6 BLDG 5+ TYPE B - APTS 6,696 SF BLDG + TYPE C - APTS,50 SF POOL 0 SOUTH WALNUT AVENUE (LOCAL) 0 BLDG 00 COMMUNITY CENTER. 6,650 SF BLDG + TYPE A - APTS 9, SF PHASE BLDG + TYPE D APT BLDG 0,06 SF TRASH RECYCLING TRASH RECYCLING A C 05, SCOTT BECK ARCHITECT 9 SITE PLAN - PHASE TRASH RECYCLING T ADJACENT PROPERTY 55 S. PLUMAS ST., FRES, CA 906 PHASE : BLDG 0+ TYPE C: APT BLDG,50 SF FRES EDISON APARTMENTS-PH SOUTH PLUMAS STREET (COLLECTOR ) W. GEARY STREET 05 WASHINGTON BOULEVARD, SUITE 00 CULVER CITY, CA 90 (0) SCOTT BECK ARCHITECT TYPICAL STALLS /"='-0" PHASE : BLDG 9+ TYPE A : APT BLDG 9, SF CL PHASE : BLDG 5+ TYPE C: APT BLDG,50 SF PHASE : BLDG 6+ TYPE B: APT BLDG 6,696 SF PHASE : BLDG 5+ TYPE C: APT BLDG,50 SF PLAY AREA AREA CALCULATION TOTAL CL 6 BUILDINGS: 6,6 SF TOTAL 6 TOTAL UNITS ONE-BEDROOM UNITS TWO-BEDROOM UNITS 0 THREE-BEDROOM UNITS FOUR BEDROOM UNITS A A 9 0 PHASING PLAN NTS CL 9 (N) EAST ORENCE AVENUE (LOCAL) PROGRESS SET AS TED A SSB PROJECT RTH 9 SITE AREA APPROXIMATE TOTAL PH SITE AREA = 0,500 SF (. AC) 6 UNITS = 5.0 UNITS/ACRE 96 STALLS = APPX.5 / UNIT (6 CARPORTS) A-.B SITE PLAN /0"='-0"

2 MEMORANDUM Housing Relinquished Fund Corporation To: The Board of Directors of the Housing Date: February 9, 06 Relinquished Fund Corporation Board Meeting: February, 06 From: Preston Prince Secretary/Director Agenda Item: 6 Subject: Request for HRFC Funding for the Acquisition of 0 N. Blackstone, Fresno, CA (APN: 5-06-) The purpose of this memo is to hereby request consideration for a Loan by Housing Relinquished Fund Corporation (the HRFC ), to Silvercrest, Inc., in connection with the acquisition of 0 N. Blackstone, Fresno, CA (APN: 5-06-) (the Project ). In the course of evaluating projects for 06 development, staff identified a potential development opportunity located on the Blackstone Bus Rapid Transit (BRT) corridor. The subject property (the Property ) is located at 0 N. Blackstone Avenue, Fresno, CA (APN: 5-06-), and includes a,9 s.f. vacant building on a. acre parcel. The property is zoned Neighborhood Mixed Use and if developed would be envisioned as a demolition and new construction of multifamily developments with commercial use on the ground floor. The location of the property on the BRT corridor allows for many benefits, including being classified as a Transit Oriented Development (TOD) that will allow for development incentives from the City of Fresno. The revitalization of the Blackstone corridor is a main focus of the Fresno City Council and the Mayor as work begins on the BRT system in the coming months. The owner of the site was requesting $. million and was entertaining more than one offer. To ensure a competitive offer and provide a development opportunity for Silvercrest, Inc. and/or the Fresno Housing Authority, staff negotiated an aggressive offer of $.5 million with a 0 day escrow. The owner accepted the offer from Silvercrest, Inc. on February, 06, contingent upon Silvercrest, Inc. Board approval and authorization of the Property Purchase Agreement. Staff is currently evaluating potential funding sources for the development. The City of Fresno has released a Request for Proposals that may provide a funding opportunity for the development of $,000,000 in HOME funds and $0,000 in Community Development Block Grant (CDBG) funds. At this time, staff is requesting that the Board of Directors of the Housing Relinquished Fund Corporation consider a resolution that authorizes a loan to Silvercrest, Inc. of up to $,00,000 to facilitate the acquisition of the Project on or before March, 06. 5

3 RECOMMENDATION: It is recommended that the Board of Directors of the Housing Relinquished Fund Corporation, adopt the attached resolution approving a loan of up to $,00,000 to Silvercrest, Inc., in order to finalize the acquisition of 0 N. Blackstone, Fresno, CA (APN: 5-06-) on or about March, 06, and authorize the Secretary, Preston Prince or Treasurer, Tracewell Hanrahan, and/or their respective designees to negotiate and execute all ancillary documents in connection therewith. 6

4 BEFORE THE BOARD OF DIRECTORS OF THE HOUSING RELINQUISHED FUND CORPORATION RESOLUTION. RESOLUTION AUTHORIZING A LOAN COMMITMENT FROM THE HOUSING RELINQUISHED FUND CORPORATION (HRFC) IN THE AMOUNT OF UP TO $,00,000 FOR THE ACQUISITION OF 0 N BLACKSTONE, FRES, CA (APN: 5-06-). At a duly constituted meeting of the Board of Directors of the Housing Relinquished Fund Corporation, a California nonprofit public benefit corporation (the Corporation ) held on February, 06, the following resolution is adopted: WHEREAS, the goals of the Corporation include financing of the development and provision of affordable housing units within Fresno City boundaries; and WHEREAS, the Corporation desires to support housing opportunities for low and moderate income households within a variety of neighborhoods; and WHEREAS, Silvercrest, Inc. has agreed to facilitate the acquisition of real property located at 0 N. Blackstone Avenue, Fresno, CA (APN: 5-06-) for a proposed mixed-use multifamily apartment complex (the Project ); and WHEREAS, the Corporation desires to provide a loan of up to $,00,000 for the acquisition of the Project; W, THEREFORE, BE IT RESOLVED, that the Board of the Corporation does hereby authorize a loan commitment of up to $,00,000 for the acquisition of 0 N. Blackstone Avenue, Fresno, CA (APN: 5-06-) and authorize the Secretary/Director, Preston Prince or Treasurer, Tracewell Hanrahan, and/or their respective designees to negotiate and execute all ancillary documents in connection therewith. PASSED AND ADOPTED this rd day of February 06. AYES: NAYS: ABSTAIN: ABSENT: EXCISED:

5 CERTIFICATE I, the undersigned, the duly appointed Secretary of the Housing Relinquished Fund Corporation (the Corporation ), as keeper of the records of the Corporation, CERTIFY:. That the attached Resolution (the Resolution ) is a true and correct copy of the resolution of the Board of Directors of the Corporation, as adopted at a meeting of the Corporation held on the rd day of February 06, and duly recorded in the minute books of the Corporation.. That such meeting was duly convened and held in all respects in accordance with law, and, to the extent required by law, due and proper notice of such meeting was given; that a quorum was present throughout the meeting and a majority of the members of the Board of Directors of the Corporation present at the meeting voted in the proper manner for the adoption of the Resolution; that all other requirements and proceedings incident to the proper adoption of the Resolution have been duly fulfilled, carried out and otherwise observed, and that I am authorized to execute this Certificate. IN WITNESS WHEREOF, I have hereunto set my hand this rd day of February 06. HOUSING RELINQUISHED FUND CORPORATION, Preston Prince, Secretary/Director

6 BEFORE THE BOARD OF THE HOUSING RELINQUISHED FUND CORPORATION RESOLUTION. RESOLUTION AUTHORIZING A LOAN COMMITMENT FROM THE HOUSING RELINQUISHED FUND CORPORATION (HRFC) IN THE AMOUNT OF UP TO $,500,000 FOR THE DEVELOPMENT OF THE FRES EDISON APARTMENTS PHASE II, 6 UNITS OF MULTIFAMILY HOUSING AT 50 S. WALNUT AVENUE, FRES CA 906 (PORTION OF EACH --0T THROUGH 06T; PORTION OF EACH --9T THROUGH T; PORTION OF EACH --0T THROUGH 0T; AND PORTION OF EACH --T THROUGH 5T). At a duly constituted meeting of the Board of Directors of the Housing Relinquished Fund Corporation, a California nonprofit public benefit corporation (the Corporation ) held on February, 06, the following resolution is adopted: WHEREAS, the goals of the Corporation include financing of the development and provision of affordable housing units within Fresno City boundaries; and WHEREAS, the Corporation desires to support housing opportunities for low and moderate income households within a variety of neighborhoods; and WHEREAS, the Housing Authority of the City of Fresno has agreed to facilitate the development of real property located at 50 S. Walnut Avenue, Fresno, CA (APNs --0T through 06T, --T through T, --0T through 06T, --09T, --T through 6T, --T and the improvements located thereon into a total of unit multifamily living apartment complex to be built in two phases (collectively, the Property); and WHEREAS, Fresno Edison Apartments Phase II consist of 6 units; and WHEREAS, the Corporation desires to provide a residual receipts loan of up to $,500,000 for the benefit of Fresno Edison Apartments Phase II; and WHEREAS, it is anticipated that the project will apply for 9% low income housing tax credits to the California Tax Credit Allocation Committee; and W, THEREFORE, BE IT RESOLVED, that the Board of the Corporation does hereby authorize a residual receipts loan commitment of up to $,500,000 for the Fresno Edison Apartments Phase II project and authorize the Secretary, Preston Prince or Tracewell Hanrahan, Chief Financial Officer, and/or their respective designees to negotiate and execute all ancillary documents in connection therewith. PASSED AND ADOPTED this rd day of February 06.

7 AYES: NAYS: ABSTAIN: ABSENT: EXCISED:

8 CERTIFICATE I, the undersigned, the duly appointed Secretary of the Housing Relinquished Fund Corporation (the Corporation ), as keeper of the records of the Corporation, CERTIFY:. That the attached Resolution (the Resolution ) is a true and correct copy of the resolution of the Board of Directors of the Corporation, as adopted at a meeting of the Corporation held on the rd day of February 06, and duly recorded in the minute books of the Corporation.. That such meeting was duly convened and held in all respects in accordance with law, and, to the extent required by law, due and proper notice of such meeting was given; that a quorum was present throughout the meeting and a majority of the members of the Board of Directors of the Corporation present at the meeting voted in the proper manner for the adoption of the Resolution; that all other requirements and proceedings incident to the proper adoption of the Resolution have been duly fulfilled, carried out and otherwise observed, and that I am authorized to execute this Certificate. IN WITNESS WHEREOF, I have hereunto set my hand this rd day of February 06. HOUSING RELINQUISHED FUND CORPORATION, Preston Prince, Secretary