City of Burbank Joint City Council Meeting Agenda 2026-05-19
City Loans Committed to Burbank Housing Project
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Description
The City of Burbank is considering commitment letters to roll over an existing $1,215,384.73 City loan and conditionally reserve $2,592,389 in HOME funds for a new loan to the Burbank Housing Corporation to support The Village at Fairview project. The action formalizes financial support for ongoing affordable housing development.
Contract Details
Contract Amount
Roll-over of existing City loan of $1,215,384.73 and new loan of $2,592,389
Vendor
BURBANK HOUSING CORPORATION
Agency
City of Burbank, CA
Contract Type
FINANCIAL_SERVICES
Document Date
May 19, 2026
Renewal Info
Commitment letter rolls over an existing City loan and establishes a new conditional HOME-funded loan for The Village at Fairview project; specific maturity dates are not provided in the agenda.
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