City Council

(10) 21-1177 CD 8 HOUSING AND HOMELESSNESS COMMITTEE REPORT and RESOLUTION relative to considering the results of the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) hearing minutes; and issuing tax-exempt multifamily conduit revenue notes in an amount up to $40,625,000 and taxable multifamily conduit revenue notes in an amount up to $30,000,000 for the Manchester Urban Homes Affordable Housing Project located at 8721-8761 (formerly 8721-8765) South Broadway in Council District 8. Recommendations for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR: NOTE and FILE the Los Angeles Housing Department (LAHD) report dated January 26, 2023, attached to Council file No. 21-1177, relative to the issuance of tax-exempt and taxable multifamily conduit revenue notes for the Manchester Urban Homes Project. CONSIDER the results of the TEFRA hearing held on December 15, 2022 for the Manchester Urban Homes Project, contained in the City Administrative Officer (CAO) report dated February 8, 2023, attached to Council file No. 21-1177. ADOPT the accompanying RESOLUTION attached to the CAO report dated February 8, 2023, authorizing the issuance of up to $40,625,000 in tax-exempt multifamily conduit revenue bonds, or notes, and up to $30,000,000 in taxable multifamily conduit revenue bonds, or notes, for the Manchester Urban Homes Project located at 8721-8761 (formerly 8721-8765) South Broadway in Council District 8. AUTHORIZE the General Manager, LAHD, or designee, to negotiate and execute the relevant documents for the Manchester Urban Homes Project, subject to the approval of the City Attorney as to form.