City of Los Angeles at Los Angeles City Housing Authority

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This document is a resolution from October 22, 2020, authorizing Los Angeles LOMOD South, Inc. to accept the transfer of ownership of various properties (dubbed "Transferred Properties") from the Housing Authority of the City of Los Angeles (HACLA). The transfer aims to consolidate asset management ownership for greater efficiency and reduced liability. The properties include those with existing debts, such as the Chase Properties ($12,917,347 loan outstanding until January 2037) and the Reflection Properties ($4,229,134 loans outstanding until March 2025), and also those with HAP contracts which will be transferred. The transfer process is expected to commence immediately and conclude by June 2021.

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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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The Housing Authority of the City of Los Angeles (HACLA) is authorizing a sole source contract with TALX Corporation, provider of Equifax Verification Services through The Work Number, for employment and income verification services. This contract is for an initial one-year term, extendable annually for a total term of up to five years, with a total contract amount not to exceed $1,050,000. The services are essential for verifying income for applicant families and participants, complementing HUD's EIV system, and supporting the Watts/LA WorkSource Center's client placement data requirements.