Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee approves third round of fast-track financing adjustments to close construction gaps on at-risk projects
Summary
The committee approved staff recommendations to reallocate funds and continue a fast-track assistance program that supplements existing loans for affordable housing projects facing construction cost overruns; members asked for district notifications and cost-per-unit data.
The Los Angeles City Council Homelessness and Housing Committee voted May 14 to approve modified financing recommendations for a fast-track assistance program that provides supplemental loans or grants to affordable housing projects facing construction cost increases.
LAHD staff described the program as a response to construction-cost inflation and contractor disputes that threaten project completion. The department said this is the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
