The Los Angeles City Council approved the sale of two affordable housing projects, Manitou Vistas I (48 units) and Manitou Vistas II (21 units), to two nonprofit entities created by the Housing Authority of the City of Los Angeles (HACLA): Hope to House, Inc., and New Way Home Corporation, respectively. This action preserves 67 affordable units at risk of foreclosure. The City assigned existing loans totaling $4,024,418 to the new owners and amended the loan terms to ensure long-term viability. The new 55-year agreements reduce the interest rate to 3% simple interest and forgive all previously accrued interest. Affordability levels at one of the properties were also deepened to serve residents earning between 30% and 60% of the Area Median Income. The move prevents the loss of crucial affordable housing stock in Council District 14.