City Council

Item S507: Approval of an Affordable Housing CDBG Loan Agreement with Swift Avenue\nHousing Associates, L.P., in an Amount Not to Exceed $5,700,000 for the Swift\nAvenue Apartments Affordable Housing Project. (Added 3/21/25)\nThis item will be considered in the afternoon session which is scheduled to begin at\n2:00 p.m.\nTotal Estimated Cost of Proposed Action and Funding Source:\nThe cost of this loan agreement is not to exceed $5,700,000. The agreement will be\nfunded by Community Development Block Grant funds.\nCouncil District(s) Affected: 9.\nProposed Actions:\n(R-2025-424)\nResolution approving the loan agreement for the Swift Avenue Apartments affordable\nhousing project within the City Heights Mid-City Community Plan Area and authorizing a\nrelated loan in an amount not-to-exceed $5,700,000 in Community Development Block\nGrant funds to the project developer, Swift Avenue Housing Associates, LP.\nCommittee Actions Taken: N/A\nEconomic Development: Christina Bibler, (619) 236-6421\nCity Attorney Contact: Marguerite Middaugh