Media Resources

Councilman Gil Cedillo, GM Rushmore Cervantes and developer representatives commemorating the ground breaking of Taylor Yard Housing Development

We invite you to view our recently released announcements on events, new initiatives to improve quality of for all LA residents, new staff positions and partnering opportunities with us.

Media Release

RELEASE: CITY OF LOS ANGELES HOSTS COMMUNITY MEETINGS TO DISCUSS USE OF FEDERAL GRANTS

RUSHMORE D. CERVANTES
GENERAL MANAGER, LOS ANGELES HOUSING + COMMUNITY INVESTMENT DEPARTMENT

FOR IMMEDIATE RELEASE
March 11, 2019

HCIDLA Media Contact:
Public Information Desk (213) 808-8658

CITY OF LOS ANGELES HOSTS COMMUNITY MEETINGS TO DISCUSS USE OF FEDERAL GRANTS

Los Angeles, CA - The Los Angeles Housing + Community Investment Department (HCIDLA) is pleased to announce the release of Mayor Eric Garcetti’s proposed budget for the 45th Program Year Consolidated Plan.  The overall budget of more than $138 million is intended to support communities in low to moderate income neighborhoods.  The HCIDLA is hosting three community meetings to share the proposed Consolidated Plan budget and collect community feedback.

Last year, the Mayor and City Council approved the 2018-2022 Five-Year Consolidated Plan Overview that outlines the framework for how the City will coordinate efforts to revitalize low income neighborhoods during a five-year period. The Program Year 45 Consolidated Plan proposed budget is focused on the following objectives: to develop urban communities, to provide decent housing and suitable living environments, and to expand economic opportunity for all City residents, and in particular the most vulnerable residents experiencing homelessness and income insecurity. These funds are for projects and programs aimed at increasing access to affordable housing, revitalizing neighborhoods and supporting economic development primarily benefiting low income residents of the City.

Some of the proposed projects in the Mayor’s budget for housing and community development grant funds include: Neighborhood Improvements, Economic Development Projects, Housing and Related Programs, and Public Services, including the following new programs: 1) Eviction Defense, 2) Children’s Savings Accounts, and 3) Expanded After-school Services.  Details of the proposed budget will be shared at the upcoming community meetings and everyone is welcome to attend and provide feedback.

DATES FOR COMMUNITY MEETINGS:

All meetings held 6:00 p.m. -7:30 p.m.

Wednesday, March 13, 2019

Mervyn M. Dymally High School

8800 San Pedro Street

Los Angeles, CA  90003

Tuesday, March 19, 2019

El Nido Family Center

11243 Glenoaks Blvd.

Pacoima, CA  91331

Thursday, March 21, 2019

Central City Neighborhood Partners

501 South Bixel Street

Los Angeles, CA  90017

Everyone is urged to attend to provide recommendations and comments on the proposed projects, and all comments will be shared with elected officials.

Individuals unable to attend but who would like to submit comments, via email to: hcidla.planning@lacity.org, by mail: Los Angeles Housing + Community Investment Department, 1200 W. 7th Street, 9th Floor, Los Angeles, CA  90017, Attn: Julie O’Leary, Director of Consolidated Planning.

To view the proposed projects, visit: hcidla.lacity.org/latest-action-plan. For more information, contact Julie O’Leary at: julie.oleary@lacity.org.

Los Angeles Housing + Community Investment Department (HCIDLA) promotes livable and prosperous communities through the development and preservation of decent, safe, and affordable housing, neighborhood investment and social services. For more information, contact HCIDLA Monday through Friday, at (213) 808-8808, or toll-free at (866) 557-7368. More information about HCIDLA programs and services can be found on the HCIDLA website at hcidla.lacity.org.

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Media Release

RELEASE: CIT BANK RENEWS PARTNERSHIP WITH A NEW GRANT FOR FIRST-TIME HOMEBUYER ASSISTANCE

RUSHMORE D. CERVANTES
GENERAL MANAGER, LOS ANGELES HOUSING + COMMUNITY INVESTMENT DEPARTMENT

FOR IMMEDIATE RELEASE
January 23, 2019

HCIDLA Media Contact:
Public Information Desk (213) 808-8658

CIT BANK RENEWS PARTNERSHIP WITH A NEW GRANT FOR FIRST-TIME HOMEBUYER ASSISTANCE

LOS ANGELES, CA – The Los Angeles Housing + Community Investment Department (HCIDLA) today announced that CIT Bank, N.A., the banking subsidiary of CIT Group Inc., has awarded a $400,000 grant to HCIDLA to help lower-income Angelenos achieve the American Dream. 

In late 2017, CIT Bank provided $400,000, which enabled HCIDLA to assist 28 hard-working families in purchasing single-family homes and condominiums throughout the city. For this purpose, CIT is now renewing that grant for another year.

For over 25 years, HCIDLA has operated first-time homebuyer assistance programs, providing eligible first-time homebuyers with purchase assistance in the form of a deferred-payment “soft second” loan to be used toward down payment, acquisition and closing costs.  Personal income tax credits in the form of mortgage credit certificates (MCCs) are also available to first-time buyers. 

“CIT is pleased to partner with the City of L.A. and renew our support for first-time, low- and moderate- income families in their efforts to secure permanent single family housing,” said Steve Solk, president of Consumer Banking for CIT. “Together, we are committed to strengthening neighborhoods and enhancing the lives of local L.A. residents.” 

With rising home prices and interest rates, the path to homeownership has become increasingly difficult, especially for low- and moderate-income first-time homebuyers. HCIDLA’s resources for first-time homebuyers are primarily federal grants and MCCs via the California Debt Limit Allocation Committee (CDLAC).  With these limited resources HCIDLA can typically assist fewer than 100 home buying low-income households a year and thus continuously seeks other grant sources.  This second $400,000 grant from CIT will enable HCIDLA to provide loans to an additional 28 homebuyers.

Denise Harris, a new homeowner, received an HCIDLA Low Income Purchase Assistance (LIPA) loan of $60,000, including $15,000 from the CIT grant awarded in late 2017. Ms. Harris stated: “I am grateful for the program and all the assistance that I received.  I am a single mother of three and obtained a brand new home through the wonderful LIPA Program and Habitat for Humanity. This has been a blessing to my family and made my homeownership dream a more affordable possibility. hank you!”

Another new homeowner assisted by the CIT grant, Nelson Armando Flores, shared that “The LIPA Program made my dream of owning a home come true.  I had been thinking of purchasing a home for myself and my family for over eight years but with home prices being so high, it always seemed like just a dream. Thanks to this wonderful program, my wife, three sons and myself, now own our own home.  Thank you for this great opportunity.  Hopefully, this program never ends.”

HCIDLA General Manager Rushmore Cervantes, stated that, “HCIDLA is pleased to accept this new CIT grant which will support our loan programs for low-income, first-time homebuyers. The demand for assistance by highly qualified buyers is far greater than the limited resources available for this purpose.”

To learn more about the City’s First-Time Homebuyer Programs, please visit hcidla.lacity.org/homebuyers.

CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience, approximately $50 billion in assets as of Sept. 30, 2018, and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company’s commercial banking segment includes commercial financing, real estate financing, equipment financing, factoring and railcar financing. CIT’s consumer banking segment includes its national online bank, CIT Bank, and a Southern California branch bank, OneWest Bank. Discover more at cit.com/about. CIT's banking subsidiary is based in Pasadena, California, and includes the OneWest Bank Southern California branch network and the national online bank CIT Bank.

Los Angeles Housing + Community Investment Department (HCIDLA) promotes livable and prosperous communities through the development and preservation of decent, safe, and affordable housing, neighborhood investment and social services. For more information, contact HCIDLA Monday through Friday, at (213) 808-8808, or toll-free at (866) 557-7368. More information about HCIDLA programs and services can be found on the HCIDLA website at hcidla.lacity.org.

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Media Release

RELEASE: CITY OF LOS ANGELES HOUSING + COMMUNITY INVESTMENT DEPARTMENT RECEIVES $472,000 GRANT FOR CHILD PASSENGER SAFETY PROGRAM

RUSHMORE D. CERVANTES
GENERAL MANAGER, LOS ANGELES HOUSING + COMMUNITY INVESTMENT DEPARTMENT

FOR IMMEDIATE RELEASE
November 18, 2015

Los Angeles Housing + Community Investment Department Contact:
Farrah Parker, (213) 978-1675

CITY OF LOS ANGELES HOUSING + COMMUNITY INVESTMENT DEPARTMENT RECEIVES $472,000 GRANT FOR CHILD PASSENGER SAFETY PROGRAM

(Los Angeles, CA -, November 12, 2015 – LOS ANGELES)-- The Los Angeles Housing + Community Investment Department (HCIDLA) received a $472,000 award from the California Office of Traffic Safety (OTS) to support the City’s Child Passenger Safety (CPS) Program. With an aim to provide public education and increase awareness, the program prevents the injury and death of hundreds of children involved in car accidents each year.  The funds also allow the City to provide a limited number of free car seats to eligible low income city residents.

“All children, regardless of their socio-economic background, deserve to travel with proper safety measures in place,” said Rushmore Cervantes, General Manager of HCIDLA.  “By educating parents, guardians, and caregivers on the dire importance of passenger safety, these grant funds result in stronger communities where we reduce the risk of child injury.”

In addition to highlighting safety regulations, the program also teaches families how to properly select and install child safety seats.  Entering its 11th year of funding, the CPS distributes an average of 3,400 child safety seats each year having served more than 37,000 children since the program’s inception.

“By connecting with families in a compassionate way, we increase a child’s chances of traveling safely and create an environment where parents become advocates in their neighborhoods,” said Laura Guglielmo, HCIDLA Executive Officer.  The community workshops and seminars offer comprehensive support by outlining options for infant seats and appropriate state-mandated booster seats for older (and taller) children. 

Free car seats may be provided to eligible parents and guardians who complete the two-hour class.

For more information about the CPS Program call 213-808-8962 or email Jimmy.Valenzuela@lacity.org.

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Media Release

RELEASE: MAYOR ERIC GARCETTI ANNOUNCES $50 MILLION FUND TO CREATE, PRESERVE AND RETROFIT AFFORDABLE HOUSING IN LOS ANGELES

MAYOR ERIC GARCETTI
CITY OF LOS ANGELES

FOR IMMEDIATE RELEASE
August 10, 2015

City of Los Angeles Contact:
Mayor's Office, (213) 978-0741

MAYOR ERIC GARCETTI ANNOUNCES $50 MILLION FUND TO CREATE, PRESERVE AND RETROFIT AFFORDABLE HOUSING IN LOS ANGELES 
New Generation Fund expansion brings public-private capital to critical early development 

LOS ANGELES – Los Angeles Mayor Eric Garcetti, the Los Angeles Housing + Community Investment Department and Enterprise Community Partners Inc. today announced the expansion of the New Generation Fund, which will bring an additional $50 million to create, preserve and retrofit affordable housing in the city.

"The public and private sectors must work together to preserve and expand affordable housing," said Mayor Eric Garcetti. "The New Generation Fund is an excellent example of how the City can leverage limited resources to pursue these goals. The new retrofit features are especially important to Los Angeles, and should help us move more quickly on preservation."

The New Generation Fund offers pre-development and acquisition funding through a public-private partnership between the City of Los Angeles and a consortium of banks, financial institutions and community development financial institutions (CDFIs). In this latest round of funding, the City’s renewed commitment of $10 million has been used to leverage $50 million in private capital that will be made available on a revolving loan basis to affordable housing developers.  

“Early stage funding is critical in the development of affordable housing, especially in a high-cost city like Los Angeles with great market pressures,” said Jeff Schaffer, VP and Southern California market leader, Enterprise. “Enterprise has a generational goal to end housing insecurity, meaning no more homelessness and no more families paying 50 percent of their income toward housing. A number of flexible financing sources are needed to accomplish this, including programs like the New Generation Fund.”

Since its 2008 inception, the New Generation Fund has provided more than $69 million for the construction and preservation of 1,355 affordable apartments including:

  • Historic rehab of the Rosslyn Hotel in downtown Los Angeles, now home to 264 formerly homeless individuals including 100 veterans.
  • Construction of the Metro @ Hollywood, a transit-oriented development providing 120 affordable apartments for low-income seniors.
  • Construction of Riverwalk at Reseda, 77 new apartment homes for families in the San Fernando Valley.

The renewed fund will continue to invest in developments that address the City's goal of integrating affordable housing with neighborhood amenities, public transportation, social services and energy conservation.

“The New Generation Fund is a great product of collaboration and innovation that is key to getting the “most bang for the buck” in our current business environment.  The Los Angeles Housing + Community Investment Department looks forward to building more entrepreneurial public and private partnerships like the New Generation Fund that are essential to a holistic approach to addressing the housing and community needs of Los Angeles,” said Rushmore Cervantes, General Manager, Los Angeles Housing + Community Investment Department.

Citi, Wells Fargo, Metropolitan Life, JPMorgan Chase and Deutsche Bank contributed a combined commitment of $50 million for this fund renewal.  Enterprise Community Partners is the fund manager.

"The New Generation Fund has been an important tool to building affordable housing in Los Angeles. Our commitment helps to ensure that this important work continues in building and preserving viable communities," said Richard Gerwitz, co-head, Citi Community Capital. 

About Los Angeles Housing + Community Investment Department
In 2013 the Los Angeles Housing Department and the Community Development Department were integrated into the Los Angeles Housing + Community Investment Department (HCIDLA). With a vision to be the champion for a Los Angeles free of poverty, homelessness, and substandard housing, HCIDLA aims to promote livable and prosperous communities through the development of decent, safe, and affordable housing, neighborhood investment, and social services.

About Enterprise Community Partners, Inc.
Enterprise works with partners nationwide to build opportunity. We create and advocate for affordable homes in thriving communities linked to jobs, good schools, health care and transportation. We lend funds, finance development and manage and build affordable housing, while shaping new strategies, solutions and policy. Over more than 30 years, Enterprise has created nearly 340,000 homes, invested $18.6 billion and touched millions of lives. Join us at www.EnterpriseCommunity.com orwww.EnterpriseCommunity.org.

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Media Advisories

Feb. 4, 2015: Landlords and Tenants Learn About the Rent Stabilization Ordinance --The LA Housing + Community Investment Department holds free workshops for landlords and tenants on their responsibilities and rights are under the ordinance… [link to docs]