Housing Successor Agency

Housing Successor Agency

In 1976, the California Legislature took action that required that 20 percent of all tax increment generated through redevelopment be set aside to create, preserve, and improve housing for low and moderate income persons.  Known as the Low and Moderate Income Housing Fund, this source of funding became arguably the most important tool for the development of affordable housing in California and created tens of thousands of housing opportunities for the State’s low and moderate income residents.

Housing Successor Properties

887 Fulton Street, Fresno

6/14/2022

To All Interested Parties:

As required by Government Code Section 54220 of the State of California, the City of Fresno in its capacity as Housing Successor is providing notice that the City of Fresno in its capacity as Housing Successor intends to sell the surplus property located at 887 Fulton Street, Fresno, California as described in the attached exhibits and commonly referred to as 887 Fulton (“Property”).

In accordance with Government Code Section 54222, you have sixty (60) days from the date this offer was sent via certified mail or electronic mail to notify the City of Fresno in its capacity as Housing Successor of your interest in acquiring the property. However, this offer shall not obligate the City of Fresno in its capacity as Housing Successor to sell the property to you. Instead, the City of Fresno in its capacity as Housing Successor would enter into at least ninety (90) days of negotiations with you pursuant to Government Code Section 54223. If no agreement is reached on sales price and terms, or lease terms, the City of Fresno in its capacity as Housing Successor may market the property to the general public.

As required by Government Code Section 54227, if the City of Fresno in its capacity as Housing Successor receives more than one letter of interest during this 60 day period, it will give first priority to entities proposing to develop housing where at least 25 percent of the units will be affordable to lower income households. If more than one such proposal is received, priority will be given to the proposal with the greatest number of affordable units. If more than one proposal specifies the same number of affordable units, priority will be given to the proposal that has the lowest average affordability level.

In the event your agency or company is interested in purchasing the property, you must notify the City of Fresno in its capacity as Housing Successor in writing within sixty (60) days of the date this notice was sent via certified mail or electronic mail. Notice of your interest in acquiring the property shall be delivered to Enrique Mendez, Project Manager City of Fresno Housing Successor at 848 M Street 3rd Floor Fresno, CA 93726. You may also direct your questions to Enrique.Mendez@fresno.gov or by calling 559 621-7603.

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