Fresno Bee Newsroom Blog

Real Estate: Fresno Housing Authority receives $60 million in tax credit equity

The Fresno Housing Authority received two awards this week that will help pay for apartment renovations and construction and housing counseling.

On Monday, the agency announced that it received nearly $60 million in Low Income Housing Tax Credit equity from the California State Treasurer’s office. The tax credit program was created to encourage private investment in affordable housing projects.

The authority plans to rehabilitate 400 public housing units in Fresno, Mendota and Orange Cove. Plans also include building community centers with computer labs, kitchens and offices.

“The Fresno Housing Authority is proud to be the catalyst that will bring this significant investment into Fresno County,” said Preston Prince, chief executive officer and executive director.

“We continue to work with multiple partners including local jurisdictions, school districts, service providers, architects and contractors to create high-quality, affordable housing opportunities for our residents that have positive impact on our community,” he said.

Some of the money will also be used to build a 60-unit apartment complex for families on 4.9 acres on Dinuba Avenue near Orange Avenue in Reedley.

On Tuesday, the authority was one of 334 national, regional and local organizations to receive a slice of more than $40 million housing counseling grants, according to a list of recipients released by the Department of Housing and Urban Development.

The authority received $20,750 to continue its housing programs including home buying workshops, foreclosure intervention, rental counseling, and mortgage scam awareness.

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