Brief

The Los Angeles Housing Department is proposing a TEFRA (Tax Equity and Fiscal Responsibility Act) financing structure to preserve and rehabilitate the Queen Apartments under Alliance Property Group's ownership. TEFRA allows cities to issue tax-exempt bonds for affordable housing projects, reducing construction costs. The file was introduced May 20, 2026, and is currently pending review by the Housing and Homelessness Committee. No committee action has yet occurred.

Full summary

The Los Angeles Housing Department has initiated a request to use TEFRA financing to support the preservation and rehabilitation of the Queen Apartments, a project managed by Alliance Property Group. TEFRA is a federal mechanism that enables municipalities to issue tax-exempt bonds for specific development projects, primarily affordable housing. By issuing such bonds, the City reduces the borrowing costs for the project, making rehabilitation and long-term affordability more financially feasible. The Queen Apartments project appears to be a preservation and rehabilitation effort rather than new construction. The use of TEFRA financing suggests the project involves either restoring an existing building to habitable standards or maintaining its affordability for low-to-moderate income residents over a specified period. The file was submitted by the Housing Department on May 19, 2026, and formally referred to the Housing and Homelessness Committee on May 20, 2026. As of the most recent activity date, the matter remains pending committee review with no hearings scheduled or votes taken. The file is set to expire on May 20, 2028, unless renewed by Council action. Given the early stage and lack of committee activity, substantive deliberation and any possible bond authorization are likely months away.

Activity (2)

• 2026-05-20 Los Angeles Housing Department document(s) referred to Housing and Homelessness Committee.
• 2026-05-20 Document submitted by Los Angeles Housing Department, dated May 19, 2026.

Documents (1)

• 2026-05-19 Report from Los Angeles Housing Department · report