HEARING COMMENTS and RESOLUTION pursuant to Tax Equity and Fiscal Responsibility Act of 1982 relative to the issuance of one or more series of revenue bonds or notes in an aggregate  principal amount not to exceed $25,000,000 for the purpose of financing the acquisition and rehabilitation of two affordable multi-family housing rental facilities known as Magnolia City Lights and Harbor City Lights (Project).

Recommendations for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR:

1. HOLD a public hearing as required by Section 147(f) of the Internal Revenue Code of 1986 regarding the issuance of one or more series of revenue bonds or notes in an aggregate  principal amount not to exceed $25,000,000 to provide financing for the Project, located at 2885 Leeward Avenue, in the City of Los Angeles, Council District One and 527 West 127th Street, in the City of Los Angeles, Council District 15.
   
   
2. ADOPT the accompanying RESOLUTION approving the issuance of one or more series of revenue bonds or notes in an aggregate  principal amount not to exceed $25,000,000 on behalf of Levy Affiliated Holdings, LLC for the purpose of financing the acquisition and rehabilitation of two affordable multi-family housing rental facilities known as the Project.
   
   

(Scheduled pursuant to Council action of March 21, 2017)

HEARING COMMENTS and RESOLUTION pursuant to Tax Equity and Fiscal Responsibility Act of 1982 relative to the issuance of one or more series of revenue bonds or notes in an aggregate principal amount not to exceed $40,000,000 for the purpose of financing the acquisition and rehabilitation of a scattered sites project, comprised of a total of 260 units called the Baltimore Hotel, located at 501 South Los Angeles Street and the Leland Hotel, located at 116 East 5th Street, both in the City of Los Angeles, Council District 14 (Project).

Recommendations for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR:

1. HOLD a public hearing as required by Section 147(f) of the Internal Revenue Code of 1986 regarding the issuance of one or more series of revenue bonds or notes in an aggregate principal amount not to exceed $40,000,000 for the purpose of financing the acquisition and rehabilitation of  the Project, located at 501 South Los Angeles Street and 116 East 5th Street, in Council District 14.
   
   
2. ADOPT the accompanying RESOLUTION approving the issuance of one or more series of revenue bonds or notes in an aggregate principal amount not to exceed $40,000,000 on behalf of 5th and Los Angeles Partners, LP for the purpose of financing the acquisition and rehabilitation of  the Project.
   
   

(Scheduled pursuant to Council action of March 21, 2017)

ATTEST: Holly L. Wolcott, CITY CLERK

By:

          Council Clerk                                  PRESIDENT OF THE CITY COUNCIL