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Fresno Revitalization Corporation, City adopt FY25-26 housing budget; $3.0M unencumbered for affordable housing development
Summary
The Fresno Revitalization Corporation and City Council approved the FY25-26 budget that allocates roughly $5.98M in agency funds, encumbered project obligations, and an available unencumbered program balance of about $3.0M targeted to affordable housing development and compliance with affordability rules.
The Fresno Revitalization Corporation (FRC) and the Fresno City Council approved the agency's fiscal-year 2025'26 annual budget and the related annual report on Thursday, a measure staff said will fund ongoing affordable housing projects and meet state affordability and expenditure tests.
Key numbers: staff presented an agency FY25-26 budget of just under $5,982,000, which includes a sizable carryover balance and an estimated program income of roughly $313,000. After accounting for personnel, operations and encumbrances for projects under contract, staff reported an available unencumbered program balance of approximately $3,000,739 designated for future affordable housing development.
Projects in the pipeline: staff briefed council on several active…
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