Central Valley Community Sports Foundation

Granite Park

Fresno, CA

Revitalization of an abandoned 18-acre community sports complex

The Project

Granite Park, a sports complex located in central Fresno, was created in the mold of a “Big League Dreams” concept that would provide first-class baseball, softball and soccer fields to the community at large and to attract state and regional wide sporting tournaments. Originally constructed in 2006, the project only operated for 18 months before it fell into insolvency due an inability to service $5M of debt. The City of Fresno had guaranteed this debt and ultimately became the owner of the project.   Due to the City’s own precarious financial position, nothing was done with Granite Park until 2015 when the Central Valley Community Sports Foundation brought forth a proposal to rehabilitate and reopen the project. Central Valley NMTC provided pre-development funding and secured construction and permanent financing.

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COMMUNITY CONSIDERATIONS:

Poverty Rate:

28.2%

Median Family Income:

44.8%

Unemployment Rate:

9.4%

COMMUNITY IMPACTS:

Created 12 construction jobs and 18 full-time equivalent jobs.

Turned a City-owned depreciating asset into a community recreational facility at no risk or cost to City

90,000 visitors annually

Free recreational programming for non-profit partners

Financing

Total Project Cost

(Phase 1)

$
million

CVNMTC Sourced Financing

$
million

PROJECT PARTICIPANTS:

Central Valley NMTC Fund, LLC; Central Valley Community Sports Foundation, City of Fresno, Clearinghouse CDFI

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