LA City Council Secures Funding for Affordable Housing

The LA City Council voted today to secure funding for a 100% affordable, mixed-use residential development in East Hollywood.

Affordable Housing, La City Council

1/26/2022 2:01:00 PM

The $118 million project at 1021 N. Vermont Ave., near Santa Monica Boulevard, will have 94 units reserved for extremely low-income households and 91 units reserved for very low-income households. The remaining two units will be reserved for managers.

The LA City Council voted today to secure funding for a 100% affordable, mixed-use residential development in East Hollywood.

— and choose the alerts you want.On Tuesday, the City Council authorized a $56 million tax-exempt multifamily conduit revenue bond and a $12.8 million taxable multifamily conduit revenue bond through Bank of America.The project also received a $24 million loan through Proposition HHH, a ballot initiative passed in November 2016 to use $1.2 billion to build 10,000 units for homeless Angelenos. Additional funding is being provided by the Housing and Community Development Infill Infrastructure Grant Program and the Housing and Community Development Transit-Oriented Development Housing Program.

Read more: NBC Los Angeles »

If climate change is making heat waves 100 times more likely in India, this is who will suffer most

As scientists warn heat waves are 100 times more likely in the region, millions of workers can't afford to take a day off, even if the heat could kill them. Read more >>

Will politicians and their friends get rich building this?

Murdered mother's family demands justice for 2020 Venice Beach killing, calls out LA City CouncilThe family of a young mother, who was shot and killed near the Venice Beach Boardwalk in December 2020, gathered near the murder location to demand more be done to find her killer, and called out the LA City Council. Thank you for posting this and reminding us LAPDHQ is extemely bad at solving violent crime, making arrests in only about 30% of murders they investigate

Woman celebrating birthday killed in 'targeted ambush' at LA-area house party, witnesses sayA woman celebrating her birthday and her sister were among the four victims of a deadly 'targeted ambush' early Sunday morning at a house party in Inglewood, witnesses say. Terrible What did the shooter look like(race, hair, eye color, etc.)?

LA schools mandating non-cloth masks with nose wire, Atlanta district makes masks optionalStudents in Los Angeles public schools must wear a non-cloth mask with a nose wire at all times, including during sports, the district announced in a letter to families. Monsters

Alex Trebek’s longtime, final LA home lists for $7 millionHe purchased the home with his then-newlywed wife, Jean Trebek, back in 1991 for $2.15 million.

LA Unified mask policy: Students to wear non-cloth face masksStarting Monday, students must wear “well-fitted, non-cloth masks with a nose wire” at all times, including outdoors, the district announced. Absolute lunacy holy crap get your kids out of LA!! they don't require this for Hospital workers, this is crazy, are they going to require shaved faces as well

La Mirada Armada swim coach Rick Shipherd driven to find 'the one' — an Olympic starRick Shipherd's nearly five-decade coaching career includes stops from San Diego to El Monte and has produced two Olympians, a handful of Olympic trials swimmers and college standouts at powerhouses like Florida and Stanford.

Android — and choose the alerts you want. On Tuesday, the City Council authorized a $56 million tax-exempt multifamily conduit revenue bond and a $12.8 million taxable multifamily conduit revenue bond through Bank of America. The project also received a $24 million loan through Proposition HHH, a ballot initiative passed in November 2016 to use $1.2 billion to build 10,000 units for homeless Angelenos. Additional funding is being provided by the Housing and Community Development Infill Infrastructure Grant Program and the Housing and Community Development Transit-Oriented Development Housing Program. Councilman Mitch O'Farrell -- in whose 13th District the project is located -- called the development"smart urban planning.'' "It places much needed housing on top of the Santa Monica and Vermont Metro station in the heart of the 13th District. It will have neighborhood-serving ground floor retail, with patio dining, and contribute to an already very vibrant pedestrian corridor,'' O'Farrell said. The six-floor project was designed with collaboration from the Los Angeles County Metropolitan Transportation Authority and aims to improve mobility, pedestrian amenities and"reinvigorate'' East Hollywood and the Vermont/Santa Monica Red Line Metro Station transit plaza, according to a report from the Los Angeles Housing Department.