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File #: 24-708HA    Version: 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: 8/13/2024 In control: Housing Authority
On agenda: 8/26/2024 Final action:
Title: REPORT - BURBANK HOUSING DEVELOPMENT CORPORATION AND BURBANK HOUSING NEIGHBORHOOD REVITALIZATION CORPORATION’S REQUEST FOR A CONDITIONAL CONSOLIDATION, EXTENSION AND MODIFICATION OF LOANS 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 Revitalization Corporation (Burbank Housing) for five affordable housing properties in the total principal amount of $13,868,472 representing a total of 228 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 for rehabilitation of the project...
Sponsors: Housing and Community Services
Indexes: Not a Project
Code sections: 15061(b)(3) - General Rule Exemption, 15378 - Not a Project
Attachments: 1. Staff Report, 2. Attachment 1 - Burbank Housing Request, 6.27.24, 3. Attachment 2 - Modified Burbank Housing Request, 8.14.2024, 4. Attachment 3 - Papago Paulin Feasibility 08.13.24.pdf, 5. Resolution - 1 2862 and 2866 Apple Valley Lane, 6. Resolution - 2 2870 and 2874 Apple Valley Lane, 7. Resolution - 3 Papago Court, 8. Resolution - 4 Paulin Creek, 9. Resolution - 5 Olive Grove, 10. Presentation
Related files: 25-705HA