Council Holds Required Hearing, Clears State‑backed Financing for 120‑Unit Project

The Fresno City Council on April 9 completed the public hearing required for tax‑exempt financing of a proposed 120‑unit rental housing project at 200 North Selma Avenue and approved the council finding that allows issuance through the California Municipal Finance Authority.

Santino Denasi, the city’s finance director, told the council the transaction would be issued by a state authority and would not obligate the City of Fresno’s general fund or create city debt. “The issuance of this bond does not obligate or have anything to do with the city’s obligation to make payments on the bond,” Denasi said during the staff presentation.

The hearing drew two public commenters. One speaker raised concerns about a prior development (Sarah’s Court) and alleged discrimination and politically connected contracting practices; another member of the public commended the city’s housing efforts. Councilmembers heard both remarks and then closed the hearing. Council moved and approved the action 6‑0.

Why it matters: The hearing is a required local finding for projects that seek federal tax credits and tax‑exempt debt through statewide authorities. City staff emphasized the developer and issuing authority—not the city—would carry the debt service risk. Council members repeatedly asked city staff to confirm that no general‑city obligation or local funds would be used to back the bonds.

What happens next: Because the financing is issued through the California Municipal Finance Authority, developers may continue to pursue tax credits that require local public hearings. If the project proceeds, future administrative steps—such as permitting and project agreements—will come before the city under separate action.

Council action: Motion to approve the required public hearing findings and allow the financing path to proceed carried 6‑0.