County of Fresno Board of Supervisors Action Summary March 2026
HOME financing approved for Selma senior housing project
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Description
The Board authorized a HOME Agreement with Selma Elderly L.P. for up to $2,000,000 in HUD HOME funds to preserve and rehabilitate 11 senior units at Selma Heritage. The loan will carry 0%–3% simple interest with long-term affordability and loan periods estimated between 16 and 58 years and includes execution of necessary regulatory and loan documents.
Contract Details
Contract Amount
Up to $2,000,000
Vendor
SELMA ELDERLY LP
Agency
Fresno County, CA
Contract Type
FINANCIAL_SERVICES
Document Date
March 17, 2026
Contract Term
Estimated term of 16 to 58 years, including affordability and loan periods of 15 to 55 years
Renewal Info
HOME Agreement will establish 15–55 year affordability and loan periods, with delegated authority for limited construction timeline extensions and term adjustments to satisfy federal requirements.
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