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File #: 25-705HA    Version: 1 Name: BURBANK HOUSING DEVELOPMENT CORPORATION AND BURBANK HOUSING NEIGHBORHOOD REVITALIZATION CORPORATION’S REQUEST FOR A CONDITIONAL CONSOLIDATION, EXTENSION AND MODIFICATION OF LOAN TERMS FOR 2862 AND 2866 APPLE VALLEY LANE, 2870 AND 2874 APPLE VALLEY LANE, P
Type: HA- Report Status: Agenda Ready
File created: 8/12/2025 In control: Housing Authority
On agenda: 8/25/2025 Final action:
Title: REPORT - BURBANK HOUSING DEVELOPMENT CORPORATION AND BURBANK HOUSING NEIGHBORHOOD REVITALIZATION CORPORATION’S REQUEST FOR A CONDITIONAL CONSOLIDATION, EXTENSION AND MODIFICATION OF LOAN TERMS FOR 2862 AND 2866 APPLE VALLEY LANE, 2870 AND 2874 APPLE VALLEY LANE, PAPAGO COURT, PAULIN CREEK, AND OLIVE GROVE APARTMENTS BACKGROUND: The Housing Authority has provided loans to Burbank Housing Development Corporation and Burbank Housing Neighborhood Revitalization Corporation (Burbank Housing) for five affordable housing properties in the total principal amount of $13,868,472 representing a total of 232 units, with 226 units affordable to extremely low-, very low- and low-income households. The properties, identified as 2862 and 2866 Apple Valley Lane, 2870 and 2874 Apple Valley Lane, Papago Court, Paulin Creek and Olive Grove Apartments, are being consolidated into a “scattered site” application known as Apple Valley Scattered Sites to pursue tax exempt bonds and tax credits to access funds...
Sponsors: Housing and Community Services
Indexes: Exempt Project, Not a Project
Code sections: 15061(b)(3) - General Rule Exemption, 15378 - Not a Project
Attachments: 1. Staff Report, 2. Attachment 1 - Burbank Housing Loan Modification Request Letter Dated August 7, 2025, 3. Attachment 2 - Housing Authority Letter for Burbank Housing's CDLAC/CTCAC, 4. Resolution 1 - 2862 and 2866 Apple Valley, 5. Resolution 2 - 2870 and 2874 Apple Valley, 6. Resolution 3 - Papago Court, 7. Resolution 4 - Paulin Creek, 8. Resolution 5 - Olive Grove Apartments, 9. Presentation
Related files: 24-708HA