LA County Board

14. Los Angeles County Affordable Housing Solutions Agency Loan\nRecommendation as submitted by Supervisors Mitchell and Hahn: Find that\nsupporting the operations of Los Angeles County Affordable Housing Solutions\nAgency (LACAHSA) through the contemplated loan will serve a public purpose\npursuant to Government Code Section 26227; find that this action is exempt\nfrom the California Environmental Quality Act; and authorize the Chief Executive\nOfficer to take the following actions:\nNegotiate, on behalf of the County, a loan of up to $6,000,000 from the\nCounty to LACAHSA for capacity building and related activities, subject\nto reasonable terms, including repayment over a reasonable period of\ntime at a rate of no or low interest; and\nUpon successful negotiation of the loan terms and after approval, execute\na loan agreement (funding agreement) with LACAHSA on behalf of the\nCounty;\nDirect the Chief Executive Officer to report back to the Board in writing in\n30 days on the funding agreement terms; and authorize the Chief\nExecutive Officer to administer the funding agreement on behalf of the\nCounty for the duration of the repayment period. (24-5511)