CITY OF FAIRFIELD
RESOLUTION NO. 2025-232
APPROVING THE LOAN AGREEMENT AND REGULATORY AGREEMENT BETWEEN CITY OF
FAIRFIELD AND FAIRFIELD NORTH TEXAS STREET, LLC, THE COMMUNITY REVITALIZATION AND DEVELOPMENT CORPORATION, AND DANCO COMMUNITIES; AND APPROVING THE
STANDARD AGREEMENT BETWEEN CITY OF FAIRFIELD AND THE CALIFORNIA HOUSING AND
COMMUNITY DEVELOPMENT DEPARTMENT TO SUPPORT THE REHABILITATION OF THE PROPERTY LOCATED AT 3331 N. TEXAS STREET (VISTA RIDGE)
WHEREAS, the State of California, through the Department of Housing and Community Development (HCD), established the Homekey+ Program to provide funding to local governments to create and sustain housing for individuals and families experiencing homelessness or at risk of homelessness with behavioral health issues; and
WHEREAS, the City of Fairfield, in partnership with Fairfield North Texas Street, LLC, was awarded Homekey+ funds to support the acquisition and rehabilitation of the existing hotel property located at 3331 N. Texas Street, to be known as the Vista Ridge Project; and
WHEREAS, the Vista Ridge Project will convert the existing 100 -room hotel into 51 units of permanent supportive housing, including one on -site manager’s unit, with onsite supportive services designed to promote housing stability and resident well-being; and
WHEREAS, the City’s participation in the project includes a Loan Agreement totaling $23,071,081, consisting of: $500,000 from the City’s local Housing Trust Fund (match contributi on), $500,000 from the HCD Local Housing Trust Fund (LHTF) Program, $535,541 from HCD Prohousing Incentive Program (PIP) funds, and $21,535,540 from HCD Homekey+ Program funds; and
WHEREAS, the Loan Agreement establishes the City’s financial participation, loan repayment structure, and affordability covenants to ensure long -term benefit to low -income households; and
WHEREAS, as a condition of participation in the Homekey+ Program, the City is required to execute a Standard Agreement with HCD , which governs the distribution and use of Homekey+ funds; and
WHEREAS, the Regulatory Agreement provides the City and HCD with oversight authority and ensures that the property remains in decent, safe, and habitable condition while continuing to serve as permanent supportive housing consistent with state and local housing objectives; and
WHEREAS, approval of the Loan Agreement and Regulatory Agreement is necessary to ensure compliance with state program requirements, secure project funding, and advance t he City’s RES. NO. 2025-232
commitment to increasing affordable and supportive housing opportunities within the community.
NOW, THEREFORE, THE COUNCIL OF THE CITY OF FAIRFIELD HEREBY RESOLVES:
Section 1. Approval of the Standard Agreement with HCD for the Vista Ridge Project, and the Loan Agreement and Regulatory Agreement with the development entity are exempt from the requirements of the California Environmental Quality Act (Public Resource Code Section 21000 et seq.) pursuant to Health & Safety Code Section 50675.1.5.
Section 2. Approve the Loan Agreement and Regulatory Agreement between the City of Fairfield and the project development entity for the Vista Ridge Project, in total amount of $ 23,071,081, consisting of funding from the City’s Housing Trust Fund, the HCD Local Housing Trust Fund Program, and HCD Prohousing Incentive Program funds, and Homekey+ Program funds.
Section 3. Approve the Standard Agreement with HCD for the Vista Ridge Project.
Section 4. Approve the Subordination Agreements subordinating the City Loan Agreement Deed of Trust to the Banc of California construction bridge and permanent loan and subordinating the City Loan Agreement Deed of Trust and Banc of California Deed of Trus t to the City Regulatory Agreement.
Section 5. Authorize the city manager, or their designee, to make non substantive revisions to the Loan Agreement, Regulatory Agreement, HCD Standard Agreement, and Subordination Agreements, subject to approval by the city attorney.
Section 6. Authorize the city manager, or their designee, to execute the Loan Agreement, Regulatory Agreement, HCD Standard Agreement , Subordination Agreement s and any related documents necessary to carry out the intent of this resolution, subject to approval by the city attorney.
RES. NO. 2025-232
PASSED AND ADOPTED this 18th day of November 2025, by the following vote:
AYES: MEMBERS: MOY/BERTANI/CARR/PANDURO/SANDHU/TONNESEN/WILLIAMS NOES: MEMBERS: _________________________________________________ ABSENT: MEMBERS: _________________________________________________ ABSTAIN: MEMBERS: _________________________________________________
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MAYOR
ATTEST:
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CITY CLERK