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LAHD proposes third round of Fast Track loans to help finish affordable housing projects; council asks for clearer accounting
Summary
The Los Angeles Housing Department sought committee approval to modify funding tables and authorize a third Fast Track Solutions loan round to provide supplemental loans to nearly finished affordable housing projects; council members pressed LAHD for clearer totals on prior rounds and asked to be notified of awards and per-unit cost changes.
The Los Angeles Housing Department asked the committee on May 14 to move forward a third round of its Fast Track Solutions loan program, designed to provide supplemental loans to affordable housing developments dealing with post‑construction cost increases and disputes that threaten project completion.
Tim Elliott and LAHD staff proposed adjustments to the funding table and to specific recommendation amounts (including figures read into the record as $1,489,897 and…
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