| | | | | | | | Los Angeles City Council, Journal/Council Proceeding Friday, April 17, 2015 VAN NUYS CITY HALL, 14410 SYLVAN STREET, VAN NUYS, CA 91401 - 10:15 AM
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(For further details see Official Council Files)
(For communications referred by the President see Referral Memorandum)
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| | | | | | | | Members Present: Blumenfield, Bonin, Buscaino, Cedillo, Englander, Fuentes, Huizar, Koretz, Krekorian, Martinez, O'Farrell, Parks, Price and President Wesson (14); Absent: LaBonge (1) | | |
| | | | | | | | Items for which Public Hearings Have Not Been Held - (10 Votes Required for Consideration) | | | |
| | | | | | | | ITEM NO. | (5) | | | | | | 15-0436 | 15-0436 | | | | | | | | CD 7, 9, 13, 14 | CONSIDERATION OF MOTION (FUENTES - O'FARRELL) and RESOLUTION relative to the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) hearing results for the issuance of Conduit Multifamily Housing Revenue Bonds in the amount of $80,667,500 for six affordable housing developments.
Recommendations for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR:
- INSTRUCT the City Clerk, in accordance with the TEFRA requirements, to schedule and place on the agenda for the City Council meeting to be held on April 17, 2015 consideration of the hearing results of the TEFRA public hearing held on March 24, 2015 at the Los Angeles Housing and Community Investment Department for the six projects below:
Project |
Developer/Sponsor |
Address |
CD |
Construction Type |
Maximum Amount |
Sylmar Court |
12415 San Fernando Apartments, L.P. |
12415 San Fernando Road, Los Angeles, CA 91342 |
7 |
New Construction |
$26,250,000 |
Park Plaza Apartments |
Vermont Park Plaza, L.P. |
960 West 62nd Place, Los Angeles, CA 90044 |
9 |
Rehabilitation |
1,092,500 |
Beverly Terrace |
Beverly PSH, L.P. |
3314 - 3330 West Beverly Boulevard, Los Angeles, CA 90004 |
13 |
New Construction |
13,125,000 |
PATH Metro Villas I |
Metro Villas 345, L.P. |
345 North Westmoreland Avenue, Los Angeles, CA 90004 |
13 |
New Construction |
17,500,000 |
Skid Row Southeast I |
Skid Row Southeast 1, L.P. |
1201 East 7th Street and 1205 East 6th Street, Los Angeles, CA 90021 |
14 |
Rehabilitation |
10,200,000 |
T. Bailey Manor |
Women Organizing Resources, Knowledge and Services (WORKS) |
4121 Eagle Rock Boulevard, Los Angeles, CA 90042 |
14 |
New Construction |
12,500,000 |
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Total: |
$80,667,500 |
- ADOPT the accompanying RESOLUTION in accordance with Section 142 of the Internal Revenue Code of 1986, as amended, and Section 147(f) of the Code setting the official intent of the City to issue Conduit Multifamily Housing Revenue Bonds in the amounts listed above, to finance the acquisition and rehabilitation/new construction of the above projects. The sponsors/developers have pledged to comply with all applicable City policies.
Community Impact Statement: None submitted.
(Housing Committee waived consideration of the above matter)
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| | | | | | | | Adopted - TO THE MAYOR FORTHWITH, (14); Absent: LaBonge (1) | | |
| | | | | | | | Whereupon the Council did adjourn. | | | | |
| | | | | | | | | | | | | | | Signature |
ATTEST: Holly L. Wolcott, CITY CLERK By Council Clerk PRESIDENT OF THE CITY COUNCIL | | | | | | | | | | | | | | | |
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