City Council

(47) 21-0697 CD 13 COMMUNICATIONS FROM THE CITY ADMINISTRATIVE OFFICER (CAO) and LOS ANGELES HOUSING DEPARTMENT (LAHD), and RESOLUTION relative to adopting the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) Resolution and Minutes; and issuing a tax-exempt multifamily housing revenue refunding note for the Montesquieu Manor located at 318 North Juanita Avenue (formerly known as 316 North Juanita Avenue), Los Angeles, CA 90004 in Council District (CD) 13. A. CAO REPORT DATED AUGUST 5, 2026 Recommendations for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR: 1. NOTE and FILE the Los Angeles Housing Department (LAHD) report dated July 28, 2026, attached to Council file No. 21-0697, relative to adopting the TEFRA Resolution and Minutes; and issuing a tax-exempt multifamily housing revenue refunding note for the Montesquieu Manor located at 318 North Juanita Avenue (formerly known as 316 North Juanita Avenue) in CD 13. 2. ADOPT the July 22, 2026 TEFRA minutes for the Project contained in the CAO report dated August 5, 2026, attached to Council file No. 21-0697. 3. ADOPT the accompanying RESOLUTION attached to the CAO report dated August 5, 2026, attached to the Council file, authorizing the issuance of up to $5,000,000 in refunding tax- exempt multifamily housing note for the Project. 4. AUTHORIZE the General Manager, LAHD, or designee, to negotiate and execute the relevant financing documents for the Project, subject to the approval of the City Attorney as to form. B. LAHD REPORT DATED JULY 28, 2026 Recommendations for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR: 1. CONSIDER the TEFRA minutes of July 21, 2026, provided as Attachment A of the LAHD report dated July 28, 2026, attached to the Council file. 2. ADOPT the accompanying RESOLUTION approving and authorizing the issuance of a refunding tax-exempt multifamily housing revenue refunding note in the amount up to $5,000,000, provided as Attachment B of the LAHD report dated July 28, 2026, attached to the Council file. 3. AUTHORIZE the General Manager, LAHD, or designee, to negotiate and execute the relevant financing documents for the Project, subject to the approval of the City Attorney as to form. Fiscal Impact Statement: The CAO reports that there is no General Fund impact as a result of the issuance of the Refunding Note for the Project. The City is a conduit issuer and does not incur liability for the repayment of the Refunding Note, which is a limited obligation payable solely from the revenues of the Project, and the City is not, under any circumstances, obligated to make payments on the Refunding Note. Financial Policies Statement: The CAO reports that the recommendations in its report comply with the City’s Financial Policies in that the Refunding Note is a limited obligation payable solely from the revenues of the Project and the City is not, under any circumstances, obligated to make payments on the Refunding Note. Debt Impact Statement: The CAO reports that there is no debt impact as the Refunding Note is a conduit issuance debt and not a debt of the City.