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Tax-Exempt Bond Issues Closed by City

October 13, 1985

During August, the City of Los Angeles successfully closed four issues of tax-exempt bond financing, representing $20 million in bond financing and 680 units of new and rehabilitated rental housing.

Masselin Manor, on the southwest corner of 6th Street and Masselin Avenue, received $3.2 million in financing, one of the largest federal grants made available to support new central city housing development. At least 23 of these units are earmarked for low-income tenants.

A second bond issue involving several apartments received city bond financing to complete mandatory earthquake improvements, including complexes at 1310 S. Wilton Place, 744 S. Catalina St., 933 Irolo Ave., 3051 Leeward St., 112 S. Occidental Ave. and 920 S. Hobart Blvd.

Two other groups of apartments also received seismic-related financing, including projects at 2016 W. Adams Blvd., 2022 W. Adams Blvd., 1835 N. Gramercy Place, 715 S. St. Andrews Place, 1516 N. Hobart Blvd., 3835 W. 8th St. and 523 Rampart Blvd.

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