Update on City and County Projects
434-470 North Lake Avenue
and
280 Ramona Street
434-470 N. Lake Ave
• Kaiser Site
> 2.38 acres
> Zoned for mixed-use
> High density housing
> Mental health outpatient services
> City-owned site acquired with $12M in
General Fund
> July 8 City Council declared “Surplus Land”
pursuant to the State Surplus Land Act
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Disposition per Surplus Land Act (SLA)
• Issuance of a Notice of Availability (60
days) and,
• Negotiate with respondents in good faith in
an attempt to reach an agreement on
price and terms (90 days)
• City is not obligated to sell if an agreement
is not reached on price and terms
• If a subsequent development agreement is
reached outside of the SLA process, then, a
15% affordability covenant is triggered if 10
or more residential units are built
4 280 Ramona Street
• Ramona Senior Housing
> 100 units at 45% AMI (avg)
> City-owned land
> City funds committed: $7.5M
• $8.19M recommended for award under
LA County “No Place Like Home” NOFA 30
• Developer request to LA County for 48
project-based vouchers under
consideration
5 Ramona Seniors
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