LOS ANGELES, CA – Los Angeles County Board of Supervisors Chair Hilda L. Solis, Supervisor to the First District, released the following statement after the Board of Supervisors approved her motion to adopt a resolution and authorize actions approving issuance of multifamily housing mortgage revenue bonds to finance the acquisition and rehabilitation of 94 affordable units at Sunny Garden Senior Apartments affordable housing project.
“The COVID-19 pandemic has exacerbated Los Angeles County’s housing crisis, creating even more housing insecurity and economic instability. This unprecedented global pandemic requires unprecedented actions to protect vulnerable families who are on the brink of homelessness. The actions taken today will help to prevent older adult residents living at the Sunny Gardens Senior Apartments from being displaced. We are all in this together, and we are all better off when everyone has a place to call home.”
The passage of today’s motion authorizes the issuance, sale and delivery of one or more series of multifamily housing revenue bonds or notes in an aggregate principal amount not to exceed $16,000,000 for the purpose of making a loan to provide financing for the Sunny Garden Apartments, a multifamily rental housing project, to extend its affordability to seniors who are one of County’s most vulnerable populations at-risk of becoming homeless.
To view the motion, click here.
CONTACT: Kimberly Ortega, Acting Communications Director, (213) 361-6435 or KOrtega@bos.lacounty.gov