history of working together for the revitalization of southwest Fresno that produced the Yosemite Village Hope VI conceptual master plan that identified the subject parcel for single family housing; and
WHEREAS, the vacant 7.94-acre parcel was purchased by the City in its capacity as Housing Successor with Low Moderate Income Housing Asset Funds (LMIHAF) as a site intended and available for affordable housing as evidenced in the City's 2015-2023 Housing Element of the General Plan, adopted by Council on April 13, 2017; and WHEREAS, the Project's development of new infrastructure and 33 housing units will bring a long vacant parcel into productive use, will help revitalize the area and help meet the Housing Element goals of the 2035 General Plan, 2020-2024 Consolidated Plan to HUD and the One Fresno Housing Strategy; and
WHEREAS, the Developer has worked collaboratively with the adjacent property owner to the west to obtain an easement for the installation of drainage infrastructure that would advance the development of two other sites in the immediate area; and WHEREAS, the City has a significant interest to address the housing crisis and to provide affordable single family owner-occupied housing in the underserved southwest Fresno area.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Fresno in its capacity as Housing Successor as follows:
1. The Council hereby makes findings that there are substantial benefits to the community to justify a price less than market value and contribute the real property (APN 477-060-04T) for a nominal fee of $1,000 for the Disposition and Development Agreement between the City in its capacity as Housing Successor and the Fresno Housing Authority 2 of 3