City Council

(11) 18-0444 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 reissuing tax-exempt multifamily conduit revenue notes in an amount up to $22,597,935 and issuing supplemental tax-exempt multifamily conduit revenue notes in an amount up to $2,259,793; and executing related financing documents for the Hope on Hyde Park Supportive and Affordable Housing Project located at 6501 Crenshaw Boulevard 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 25, 2023, attached to Council file No. 18-0444, relative to the re-issuance and issuance of supplemental tax-exempt multifamily conduit revenue notes for the Hope on Hyde Park Apartments Project. CONSIDER the results of the TEFRA hearing held on September 29, 2022 for the Hope on Hyde Park Apartments Project, contained in the City Administrative Officer (CAO) report dated February 9, 2023, attached to Council file No. 18-0444. ADOPT the accompanying RESOLUTION attached to the CAO report dated February 9, 2023, authorizing the reissuance of up to $22,597,935 in tax-exempt multifamily conduit revenue notes and issuance of up to $2,259,793 in supplemental tax-exempt multifamily conduit revenue notes for the Hope on Hyde Park Project located at 6501 Crenshaw Boulevard in Council District 8. AUTHORIZE the General Manager, LAHD, or designee, to negotiate and execute the relevant documents for the Hope on Hyde Park Apartments Project, subject to the approval of the City Attorney as to form.