Housing Authority of the City of Los Angeles at Los Angeles City Housing Authority

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This document details the authorization and agreements for the Housing Authority of the City of Los Angeles (HACLA) to issue Multifamily Housing Revenue Notes, not to exceed $25,000,000, as a conduit issuer. The financing is for the acquisition, rehabilitation, construction, and equipping of Pueblo del Sol Phase II, an affordable multifamily residential project with 176 units (175 affordable, 1 manager unit) in Los Angeles. The notes provide low-interest funding for the project, which involves substantial rehabilitation estimated at $51.2 million, supported by various funding sources including tax credits and other loans. Key agreements include a Borrower Loan Agreement, a Funding Loan Agreement, and a Regulatory Agreement, which outline the terms for the loan, the roles of the Funding Lender (Citibank N.A.), Fiscal Agent (U.S. Bank National Association), and the Borrower (Pueblo del Sol II Housing Partners, L.P.). The project aims to provide affordable housing units for low and very low-income tenants, with restrictions lasting at least 55 years from the project's operational start.

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The Housing Authority of the City of Los Angeles (HACLA) is authorizing a new five-year contract with Yardi, Inc., effective January 1, 2026, for enterprise software services, including Yardi Voyager licensing, hosting, and support, with a total not-to-exceed amount of $13,080,000. This contract leverages a GSA cooperative purchasing agreement and replaces previous agreements to continue supporting HACLA's property management and housing operations, expanding functionalities for Asset Management, Housing Services, and Section 8 programs.

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This document outlines a Service Payback Loan of 19,527,031.38 from the City of Los Angeles to Lafayette Community Corporation (LCC) for the acquisition of the property at 349 S. La Fayette Park Place. The purpose of the loan is to facilitate the acquisition of a 120-unit apartment building, with 90 units designated as affordable housing for 80% Area Median Income (AMI) households for a period of twenty years. The loan bears a zero percent interest rate, and repayment is primarily through "Service Payback" by providing affordable housing, with a cash repayment option if an Event of Default occurs. The agreement includes detailed terms and conditions regarding loan terms, project development, operation, employment requirements, environmental compliance, and default remedies, as well as specific affordability and accessibility covenants for the property.

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This document outlines a resolution to extend the Memorandum of Understanding (MOU) between the Housing Authority of the City of Los Angeles (HACLA) and the Council of Housing Professionals - Management (CHP-M) for one year, from January 1, 2026, to December 31, 2026. The extension includes a 0.5% Cost of Living Adjustment (COLA) effective January 1, 2026, and a one-time, off-schedule longevity bonus of $3,000 or $5,000 per eligible employee, payable by May 8, 2026. The resolution also specifies conditions for potential future COLA and bonus adjustments and negotiation reopening.