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Council approved TEFRA resolutions to reissue Multifamily Housing Revenue Bonds for two new projects at 11301 Wilshire Boulevard (up to $23,000,000 and up to $20,700,000). Members authorized staff to pursue a no‑cost transfer of property at 5101 North Sepulveda Boulevard from the U.S. Army Corps of Engineers and declared a small city parcel adjacent to 11298 Tavener Avenue exempt surplus for the Own a Piece of LA program. The Council also instructed multiple departments to report back on funding or implementation for senior meals, the Los Angeles Neighborhood Initiative, pedestrian tunnel lighting and public art, and potential permitting for stone masonry waste disposal; and approved several administrative and budget items, including a refund claim.
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The meeting cleared steps to finance two new multifamily housing projects on Wilshire Boulevard using tax‑exempt bonds (the TEFRA step is a required public review for such bonds). Council directed staff to pursue a no‑cost transfer of a large parcel from the U.S. Army Corps of Engineers that could be used for city purposes, and approved selling a very small city parcel through the Own a Piece of LA program. Several departments were told to return with plans or funding options for senior meals, neighborhood improvements, underpass lighting and public art, and safer handling of stone masonry waste. For residents this means potential affordable housing development, possible new city property for future use, and upcoming actions aimed at neighborhood safety and services.
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