SLED Opportunity · CALIFORNIA · CITY OF FRESNO
AI Summary
City of Fresno seeks qualified developers for new construction or substantial rehabilitation of multifamily housing in Downtown and Chinatown areas. Funding up to $8M per project available as gap financing through a revolving loan fund. Applications due April 14, 2026.
The City of Fresno (City) is soliciting applications from qualified firms (Developers) for the new construction or substantial rehabilitation of multifamily housing in the City of Fresno’s Downtown and Chinatown areas. The area stretches from Calaveras Street (north) to César Chávez Boulevard (south), and from CA-99 (west) across to L Street (east).The selected developer(s) will be required to perform all aspects of development (i.e. property acquisition, entitlement, environmental clearance, financing, and construction). As an incentive, the City is proposing to provide funding through various programs for shovel-ready projects. Sources may include up to $20,000,000 in a Revolving Loan Fund (RLF). Funds shall be used as gap financing (last-in) for construction of higher-density multi-family housing units and will be provided as a 60-month loan with an interest rate benchmarked at 1.17% plus the ‘Effective Federal Funds Rate’ (currently 3.64% as of 1/23/26 resulting in a total interest rate of 4.81%). Only shovel-ready projects that meet the requirements set forth in the Scope of Development Work will be considered for funding. The maximum loan per Project is $8 million. Upon selection of a proposed project(s), the City and Developer will enter into a funding agreement(s) for the project; approval is subject to City Council approval. Pre-Bid Meeting Information: No Online Q&A: No Location Information: Department: Planning & Development Address: 2600 Fresno StreetRoom 3065Fresno, California93721 County: Fresno Other Details: Applications will be accepted electronically by submitting one cover letter, one application, and supporting documents per project to Mayra Merino at Mayra.Merino@fresno.gov. In order to be eligible for funding, applications must be received by, or before, 1:00 p.m. on April 14, 2026. Please include “2026 Downtown and Chinatown Housing Development NOFA” in the subject line along with the project name. If the file is too large, send a request to Housing@fresno.gov for a link to the City’s file sharing protocol. An e-mail confirming receipt of application submission will be sent within one business day. If you do not receive a confirmation, please contact Housing@fresno.gov email or phone at 559-621-8133. Applications submitted after this deadline will not be considered. If you have any questions, please contact Mayra Merino, Senior Management Analyst, at (559) 621-8133, or by email atMayra.Merino@fresno.gov.City of FresnoHousing Finance DivisionAttention: Mayra Merino, Senior Management Analyst2600 Fresno Street, Room 3065Fresno, CA 93721The City of Fresno reserves the right to reject any and all applications.
SLED stands for State, Local, and Education. These are solicitations issued by state governments, counties, cities, school districts, utilities, and higher education institutions — as opposed to federal agencies.
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