City Council

(14) 18-1097-S2 CD 9 HOUSING AND HOMELESSNESS COMMITTEE REPORT relative to authority to provide a one-year extension of the Low and Moderate Income Housing Fund (LMIHF) Protective Advance Bridge Loan term with Casa de Rosas Campus, L.P. (Casa de Rosas) for the Casa De Rosas Project located at 2600 South Hoover Street. Recommendations for Council action: REQUEST the City Attorney to prepare all necessary documents, including but not limited to an amendment of the LMIHF Loan Protective Advance Bridge Loan for the Casa De Rosas Project located at 2600 South Hoover Street to extend the term of the loan for one year. AUTHORIZE the General Manager, LAHD, or designee, to negotiate and execute the relevant amendment documents for the Casa De Rosas Project, subject to the approval of the City Attorney as to form. Fiscal Impact Statement: The LAHD reports that there is no fiscal impact to the General Fund.