200 N. Santa Fe St. • Visalia, CA 93292 P 559.713.4314 W visalia.gov
Administration Department
Office of the City Manager
July 21, 2025
Self-Help Enterprises
Attn: Tom Collishaw
8445 W. Elowin Ct.
Visalia, CA 93291
Re: HOME Investment Partnership Program (HOME) Community Housing Development Organization (CHDO) Funding Commitment for the Crescent Meadows Project.
Dear Mr. Collishaw:
This letter is to signify the City of Visalia's support of the Crescent Meadows (Project), located at Northwest corner of Ferguson Ave. and North Dinuba Blvd., Visalia, CA 93291. The City of Visalia has approximately $226,994 in Fiscal Year 2025/26 and hereby commits an additional estimated $773,056 in Fiscal Years 2026/27 and 2027/28 HOME funds for a total City of Visalia commitment up to $1,000,000 in HOME funds, contingent upon HOME annual allocation and program income received, toward development of the Crescent Meadows Project. The funding will be in the form of a residual receipt loan, bearing an interest rate of three percent (3%) over a 55-year term subject to compliance with all HOME program requirements.
The proposed project will serve households with incomes at or below 60% of the area median income (AMI) level and will be required to meet all HOME income and rental restrictions as well as HOME regulations.
The City of Visalia looks forward to working with Self-Help Enterprises as they bring critical housing to our community. If you have any questions, please contact me via email at [email protected].
Sincerely,
Leslie Caviglia
City Manager