The Los Angeles City Council approved the issuance of up to $22.83 million in Multifamily Housing Revenue Bonds for the construction of the Pointe on La Brea project, a 50-unit multifamily housing development located at 849 North La Brea Avenue. The project consists of 49 supportive housing units and one manager unit, aimed at providing essential supportive housing. The Los Angeles Housing Department conducted a public hearing under the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) on September 26, 2024, as part of the bond issuance process.
This bond issuance supports the development of new supportive housing units in Los Angeles, addressing critical housing needs and providing necessary services for vulnerable populations.