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File #: 17-803HA    Version: 1 Name: Lantana Place Status Report
Type: HA- Report Status: Agenda Ready
File created: 5/30/2017 In control: Housing Authority
On agenda: 6/12/2017 Final action:
Title: REPORT - LANTANA PLACE STATUS REPORT BACKGROUND: Lantana Place is a four-acre site located at 2975 Dutton Avenue owned by Burbank Housing Development Corporation (BHDC). In 2007, the project received a loan from the Housing Authority that included Community Development Block Grant (CDBG) funds for site acquisition and pre-development. The project has not proceeded with development due to funding constraints at the state and local level; the financing of the project was structured with Multifamily Housing Program (MHP) funding, oversubscribed and now exhausted, from the State and approximately $7 million in local subsidy no longer available due to the loss of Redevelopment and the recession. The U.S. Department of Housing and Urban Development’s Office of the Inspector General (OIG) is reviewing the project because of nine years with no measurable project activity. BHDC and staff continue to evaluate alternatives to the proposed multifamily rental development to provide affordable ...
Sponsors: Housing and Community Services
Indexes: Mitigated Negative Declaration
Attachments: 1. Staff Report