The City Council approved the issuance of up to $44.02M in tax-exempt and $18.93M in taxable multifamily mortgage revenue notes to finance Weingart Tower II (Weingart Tower A-144 Lower), a 144-unit supportive housing project at 555-561 S. Crocker Street in Skid Row. Developed by Chelsea Investment Corporation with co-developer Weingart Center Association, the project will target formerly homeless individuals at or below 50% AMI with 122 studios, 20 one-bedroom units, and 2 manager units, alongside on-site case management offices and communal dining facilities. Pacific Western Bank will provide a back-to-back loan structure, achieving bond funding without direct City liability. The capital stack, totaling $84.29M, includes HHH, No Place Like Home, MHP, tax credit equity, and other sources, at a per-unit cost of $585,377. The bond resolution complied with TEFRA requirements and the City’s Affordable Housing Bond Policies, with CDLAC set to ensure a 55-year affordability period. Construction is set to launch mid-2021, connecting residents to 142 Section 8 PBVs and shared kitchen and community spaces with the adjacent upper tower phase. The City’s Responsible Banking Ordinance will monitor compliance through annual filings.