City Council

(9) 26-1212 ARTS, PARKS, AND CITY FACILITIES COMMITEE REPORT relative to the feasibility of utilizing Municipal Improvement Corporation of Los Angeles (MICLA) financing or other funding mechanisms to support the construction and operations of the proposed Jordan Downs Neighborhood Recreation Center. Recommendations for Council action, pursuant to Motion (McOsker - Hutt): 1. DIRECT the City Administrative Officer (CAO), with the assistance of the Chief Legislative Analyst (CLA) and the Housing Authority of the City of Los Angeles (HACLA), to report to Council in 15 days with information regarding the following: a. The feasibility of utilizing MICLA financing, or another City- supported financing mechanism, to support the construction of the proposed Jordan Downs Neighborhood Recreation Center (Project), and the City budget and capital planning process for consideration of any potential MICLA request, including the timing for submission and consideration of the Project. b. The eligibility of the proposed Project and its ownership, lease, and operating structure for MICLA or other City debt financing, including any requirements necessary to establish an appropriate financing structure. c. Any applicable precedent involving City-supported financing of facilities located on property owned or controlled by the HACLA or another public agency. d. Whether a Tax Equity and Fiscal Responsibility Act (TEFRA) hearing or other public financing approval process would apply to any proposed financing structure. e. The estimated amount of financing that could potentially be supported, including the anticipated debt service, financing costs, administrative costs, and any other financial obligations that would be incurred by the City or another public entity. 2. SUPPORT the HACLA's application for the State of California's (State) Round 2 Resiliency Center Funding for this Project in an amount up to $10 million; and, PREPARE the Department of Recreation and Parks (RAP), as well as the Emergency Management Department, to provide key input for program planning and design features necessary for emergency and daily operations of this new neighborhood park and recreation center in Watts. 3. DIRECT the CAO, in coordination with the RAP and HACLA, to work collaboratively and report to Council in 15 days to identify potential City, public, philanthropic, and other funding mechanisms that could support the capital construction and ongoing operations of the proposed Jordan Downs Neighborhood Recreation Center; and, to develop a coordinated funding strategy to ensure the Project meets its construction schedule and qualifies for State, Federal and private funding opportunities, including the State Strategic Growth Council's Resiliency Centers Round 2 funding. Fiscal Impact Statement: Niether the CAO nor the CLA has completed a financial analysis of this report.