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 adopted resolutions authorizing the issuance by the Los Angeles County Development Authority (LACDA) of tax-exempt multifamily housing revenue notes and bonds to finance the rehabilitation of the Casa Bonita Senior Apartments in the City of Huntington Park.
“The COVID-19 pandemic has exacerbated Los Angeles County’s housing crisis, creating even more housing insecurity and economic instability in communities of color such as Huntington Park in Southeast Los Angeles. There is a shortage of affordable housing in this region resulting in too many residents being rent burdened and others falling into homelessness. The actions taken today will help preserve 79 units of affordable senior housing – a population who are one of County’s most at-risk of becoming homeless. 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 and delivery of one or more series of multifamily notes or housing revenue bonds in an aggregate principal amount not to exceed $12,591,000 for the purpose of making a loan to provide financing for the Casa Bonita Apartments, a multifamily rental housing project, to extend its affordability.
To view the motion, click here.
CONTACT: Kimberly Ortega, Acting Communications Director, (213) 361-6435 or KOrtega@bos.lacounty.gov