City Council

F.2.\nAUTHORIZE LETTERS OF SUPPORT AND A FUTURE LOAN\nCOMMITMENT\nFOR\nTHE\nDEVELOPMENT\nOF\nAFFORDABLE\nHOUSING AT 1049 N. FAIRFAX AVENUE [S. CAMPBELL, A.\nBARTLE]:\nSUBJECT: The City Council will consider providing letters of support and\na future commitment of up to $15,000,000 in Affordable Housing Trust\nFunds to four non-profits for development of affordable housing at 1049 N.\nFairfax Avenue. The letters of support will be submitted to the Los Angeles\nUnified School District (LAUSD) as part of their current Request for\nProposals (RFP).\nRECOMMENDATIONS: 1) Authorize the Mayor to execute letters of\nsupport for submission to LAUSD’s active RFP for affordable housing\ndevelopment located at 1049 N. Fairfax Avenue; 2) Direct Staff to prepare\na future loan commitment letter for up to $15,000,000 for the development\nof affordable housing at 1049 N. Fairfax Avenue and negotiate any\nopportunities for local preference for West Hollywood educators and\nresidents where feasible; and 3) Authorize the City Manager, or designee,\nto execute all documents incident to the letters of support.