LA4LA Pipeline Version 2

The LA4LA Affordable Housing Fund
The LA4LA Affordable Housing Fund was established to accelerate the production and preservation of affordable housing across Los Angeles. Rooted in a commitment to resilience, accessibility, and long-term community stability, the Fund provides flexible financing—through loans, guarantees, and grants—to nonprofit and values-aligned for-profit developers committed to delivering affordable and interim housing aligned with LA4LA’s purpose and guiding principles.

LA4LA is targeting an initial Fund of $135 million and will strategically coordinate the deployment of loans, guarantees, and grants to accelerate the speed and reduce the cost of developing and preserving affordable housing in Los Angeles. The Fund will ultimately provide the following guarantee and loan products though at this time, we are only providing the Incremental Loan Guarantee Tool. However, we welcome learning more about your need for debt capital as we build the Fund’s pipeline in anticipation of launching the loan products at a later date.
1. Incremental Loan Guarantee Tool - available now! A first-of-its kind precision financing tool developed by LA4LA, with input from dozens of lenders and development professionals.
  1. The incremental loan guarantee tool is designed to support incremental permanent financing based on the “overhang”, or rent differential, between the Voucher Payment Standard (VPS) rent – or other form of rental subsidy - and the rent allowed for a covenanted affordable unit.
2. Loans - Flexible, low-cost debt.
  1. Developer Equity / Equity-Like Debt. Serves as developer’s equity contribution, often for acquisition or other early costs.
  2. Predevelopment Loans. Funding for early costs, allowing projects to test innovative models.
  3. Bridge Financing. Short to medium-term financing to bridge construction or other gaps in financing to permanent debt.
The Fund also has a limited pool of capital available for strategic grants and will make determinations about the deployment of this capital at its discretion.
Incremental Loan GuaranteeLoans (to be launched at a later date)
APPLICANT PROFILE AND CONTACT INFORMATION
Legal Name of Applicant:*
DBA / Project Sponsor Name:*
Website:
Contact Person:*

First NameLast Name
Phone Number:
Please enter a valid phone number.Format: (000) 000-0000.
Email Address:*
example@example.com
NonprofitFor-profit developerJoint ventureOther
Please provide a brief explaination of the joint venture.*
Has the organization previously completed similar projects (for example, size, complexity, etc)?*
Please describe your experience with similar projects, including the number of comparable affordable housing projects completed in the last 10 years.*
PROJECT BACKGROUND
Project Name:*
Project Address/Location:*
Total Project Cost:*
Developer Equity Contribution:*
Provide a brief description of the project and its goals.
Provide a description of the project location and how it aligns with LA4LA’s geographic priorities. (LA4LA prioritizes locations where affordable housing is scarce (e.g., high resource neighborhoods) and/or in high demand.)*
Type of Project (new construction, adaptive reuse, etc.)*
Does the project utilize any unique government/policy tools (e.g., AB 2011, SB4, entitlement through LA's transit-oriented communities ordinance, etc.)?*

Unit Mix:*

Rows	No. of Units	No. of Affordable Units
Studio
1-Bdrm
2-Bdrm
3+ -Bdrm
TOTAL

Target Level of Affordability (Indicate all that apply): *

Rows	Offering	No. of Units
Moderate Income (80-120% AMI)
Low-Income (50-80% AMI)
Very Low-Income (30-50% AMI)
Extremely Low-Income (<30% AMI)

YesNo
Individuals experiencing homelessnessTransition-Aged Foster YouthJustice involved individualsSeniorsVeteransOther
Commercial Sq. Footage, (if applicable):
Anticipated Start of Construction:*

MonthDayYear
Date
Target Date for Financing Close:*

MonthDayYear
Date
LOAN REQUEST SECTION
Predevelopment loanDeveloper equity / equity-like debtBridge financingOther
Desired loan terms (interest rate, years, etc).*
Why is a flexible source of funding necessary to make this project a reality?*
Funding Sources
List of other secured or potential funding sources:*
Amount of funding already secured (if applicable):*
Developer equity contribution:*
INCREMENTAL LOAN GUARANTEE TOOL REQUEST SECTION
The LA4LA Incremental Loan Guarantee Tool is designed to backstop the incremental loan supported by “rent overhang” – the difference between covenant-level rents and voucher or subsidy-supported rents that the lender is not underwriting.
Housing Choice VoucherRental Subsidy from LA County (Please describe.)Transition Aged Youth or Other Foster Care/Entitlement Rental Support (Please describe.)Other
If you selected Rental Subsidy from LA County or Transition Aged Youth or Other Foster Care/Entitlement Rental Support, please explain below:*
Please provide the details requested above.

What is the source of the assumed Voucher/Subsidy Rent level?
(i.e., HACLA VPS, LACDA VPS, other)
What percentage of units are expected to receive vouchers or rental subsidies?*
(Note: The Guarantee Tool allows a maximum of 30% of the units to assume choice vouchers. If there is an agreement with a public agency or other organization for rental subsidies, the program will consider the total number of units with committed rental subsidy).
What is the estimated incremental permanent loan enabled by the guarantee? *
If the project includes rental subsidy that is not a choice voucher, what is the term/tenure of the rental subsidy (years remaining or expected)?
Early concept / predevelopmentEntitled but not financedIn preliminary conversations with potential leadersLender identifiedConstruction financing securedOther
Attachments (Optional)

While it is optional to submit these documents now, should your request move to full diligence, these documents will be required.
Please use this space to upload any relevant documents related to the project. This may include, but is not limited to: a project proforma, project sources and uses, developer background, project overview and timeline, lender term sheet or LOI (if available), documentation of voucher/subsidy commitments (if available).

Cancelof
Should be Empty:

Rows	Covenanted Rents (monthly)	Assumed Voucher/Subsidy Rents (monthly)
Studio
1-Bdrm
2-Bdrm
3+ -Bdrm
TOTAL

The LA4LA Affordable Housing Fund

APPLICANT PROFILE AND CONTACT INFORMATION

PROJECT BACKGROUND

LOAN REQUEST SECTION

Funding Sources

INCREMENTAL LOAN GUARANTEE TOOL REQUEST SECTION

Attachments (Optional)