Pooled-Source Financing for Affordable Multifamily Housing
City of Los Angeles > Los Angeles Housing Department
Original Solicitation Links
Description
The Los Angeles Housing Department's Pooled Sources: Multifamily Program provides construction and permanent residual-receipts loans for affordable multifamily housing developed through new construction or adaptive reuse, including projects using Low-Income Housing Tax Credits. Eligible applicants include nonprofit and for-profit developers, joint ventures, limited liability companies, and limited partnerships. Projects must contain at least 20 units, meet specified extremely low- and very low-income affordability requirements, comply with prevailing-wage requirements, and satisfy applicable labor, accessibility, environmental, site-control, underwriting, and architectural standards. The program offers up to $115,462,625.71 in capital funds. Loans may cover up to 30% of total development cost, carry a stated three-percent simple interest rate subject to adjustment for feasibility, and have a stated 57-year term consisting of a 24-month construction period followed by a 55-year permanent loan period. Applicants must submit underwriting materials, financial and organizational documentation, site-control and title materials, appraisals or property valuations, environmental and soils reports, architectural plans, certifications, self-score materials, and other project-specific documentation identified in the term sheet.
Classification Codes
Smart Codes
Specifications
Timeline
Documents
| Title | Date Posted |
|---|---|
| Term Sheet – Pooled Sources_ Multifamily.docx | Oct 09, 2026 08:15 PM |
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