REPORT TO THE CITY COUNCIL FROM: JENNIFER K. CLARK, Director Planning and Development Department THROUGH: PHIL SKEI, Assistant Director Planning and Development Department BY: MAYRA MERINO, Senior Management Analyst Planning and Development Department SUBJECT ..Title Actions pertaining to Uptown L.P. for the Uptown Apartments rental housing development located at 1510 Van Ness Avenue in Downtown Fresno (Council District 3) 1. Adopt a finding of a Categorical Exemption per staff's determination, pursuant to Section 15332/Class 32 of the California Environmental Quality Act (CEQA) Guidelines, Environmental Assessment No. P21-02255/P21-01805. 2. ***RESOLUTION - in support of a contribution of City Funds from the Revolving Loan Fund in an amount not to exceed $8,000,000 toward the housing development project located on 1510 Van Ness Ave, Fresno California (Subject to Mayor's Veto) (City Council District 3) ..Body RECOMMENDATION Staff recommends that the City Council 1) adopt a finding of a Categorical Exemption per staff's determination, pursuant to Section 15332/Class 32 of the California Environmental Quality Act (CEQA) Guidelines and 2) approve a resolution authorizing a conditional commitment not to exceed $8,000,000 in City funds from the Revolving Loan Fund (RLF) to Uptown L.P. for the Uptown Apartments rental housing development located at 1510 Van Ness Avenue in Downtown Fresno. EXECUTIVE SUMMARY The Uptown Apartments project is a new construction, mixed-use housing and retail development comprised of five buildings that will include 48 market-rate units. The City's RLF loan will provide gap financing for eligible soft and hard construction costs. The loan will be provided at a variable interest rate estimated at 4.81% over a 60-month term and secured by a deed of trust. The project advances the City's housing production goals and contributes to the continued revitalization of Downtown Fresno. BACKGROUND On February 13, 2026, the City of Fresno issued a Notice of Funding Availability (NOFA) for Downtown and Chinatown Development Round 2 to support high-density multifamily new construction and substantial rehabilitation projects. The NOFA, which closes on April 14, 2026, allows awards to be made on a rolling basis. One of the proposed projects is a new, mixed-use development featuring market-rate rental housing. The project will include five buildings ranging from one to three stories and will provide 48 market-rate rental units, offering a mix of one- and two-bedroom floor plans. The conditional funding is contingent upon the developer obtaining full financing for the project. The resolution and funding commitments will terminate December 31, 2026. ENVIRONMENTAL FINDINGS Staff has performed an environmental assessment of this project and has determined this project is exempt under Section 15332/Class 32 of the California Environmental Quality Act (CEQA) Guidelines and none of the exceptions to Categorical Exemptions set forth in the CEQA Guidelines, Section 15300.2, apply to the project. FISCAL IMPACT There is no impact to the City's General Fund. The $8,000,000 loan will be funded through the City's Revolving Loan Fund. Attachments: Categorical Exemption 1510 Van Ness RESOLUTION $8M RLF Uptown