Contract Financing Pilot Program

Los Angeles City Council meeting summary

Council approved TEFRA resolutions to reissue Multifamily Housing Revenue Bonds for two new projects at 11301 Wilshire Boulevard (up to $23,000,000 and up to $20,700,000). Members authorized staff to pursue a no‑cost transfer of property at 5101 North Sepulveda Boulevard from the U.S. Army Corps of Engineers and declared a small city parcel adjacent to 11298 Tavener Avenue exempt surplus for the Own a Piece of LA program. The Council also instructed multiple departments to report back on funding or implementation for senior meals, the Los Angeles Neighborhood Initiative, pedestrian tunnel lighting and public art, and potential permitting for stone masonry waste disposal; and approved several administrative and budget items, including a refund claim.