Federal Housing Administration Commissioner Galante and Mayor Swearengin Announce Selection of Fresno Housing Authority as Rental Assistance Demonstration Site
FRESNO, CA – Today Federal Housing Administration (FHA) Commissioner Carol Galante and Fresno Mayor Ashley Swearengin joined Fresno Housing Authority officials to announce the selection of Fresno Housing Authority as a Rental Assistance Demonstration (RAD) site. RAD offers a long-term solution to preserve and enhance the country’s affordable housing stock – including leveraging public and private funding to make much-needed improvements.
“This is a unique opportunity to reinvest in our properties in the City of Fresno and throughout Fresno County,” said Fresno Housing Authority CEO and Executive Director Preston Prince. “RAD will enable us to create communities that have a more distinct sense of place for our residents.”
The stock of public and affordable housing across the country is aging and deteriorating. There is a national backlog of capital needs for these properties which exceeds $28 billion. Currently, the Fresno Housing Authority has over $100 million in capital improvement needs and only receives $3 million each year. Based upon the current practice, it would take the Fresno HA more than 30 years to catch up with the needs.
“The flexibility of this program will make scarce dollars go further, create good-paying jobs, and improve the quality of life for Fresno residents. Fresno Housing Authority CEO Preston Prince’s determined leadership has yielded results and helped more in our Valley find a place to call home,” said U.S. Rep. Jim Costa.
The new resources will be used to substantially renovate the properties. Community facilities will be built, allowing Fresno HA to partner with such organizations as Fresno Unified to address 3rd Grade Level Reading and bring educational activities on-site.
Buildings will be renovated, providing access to backyards; and unique exterior features will be added. The renovations will include upgrades to the units like kitchens and bathrooms, the addition of laundry room, and infrastructure improvements like sewer and water lines. The properties will also have increased energy efficiency, thereby reducing water and utility consumption.
“This is an excellent example of the power of public-private partnerships to improve our community,” said City of Fresno Mayor Ashley Swearengin. “By reinvesting in our housing, we infuse new life into our neighborhoods.”
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Fresno Housing Authority is a public agency that helps more than 16,000 low-, very low-, and moderate-income families throughout the city and county of Fresno afford housing and the opportunity to live in diverse, vibrant neighborhoods. Fresno Housing Authority is the 5th largest housing authority in California and one of the 60 largest in the United States. Housing authorities play a crucial role in driving community revitalization by creating and renovating affordable housing, attracting private investment, and developing innovative programs that support self sufficiency. Fresno Housing Authority is led by a Board of Commissioners appointed by the Mayor of Fresno and the Fresno County Board of Supervisors.