Supported by mobile-home dwellers facing eviction by landlords, the City Council voted Tuesday night to establish a city Housing Authority as a vehicle for issuing revenue bonds to buy Village Mobile Home Park.
Approval by the council means park tenants will be able to retain their residences at the same monthly rent, City Manager Kenneth Landau said.
The Housing Authority, which will consist of all five council members, will sell tax-exempt revenue bonds to purchase the park, at 17100 Gramercy Place. Ownership will then be transferred to tenants, who will, in turn, pay off the bonds.
Park owners, a group of South Bay businessmen composed primarily of doctors who planned to build a medical facility on the property, informed the tenants last November they would have to move within 12 months. The city is currently negotiating with owners to exchange the property for a piece of land along Artesia Boulevard that the city is purchasing from the California Department of Transportation.