1990 in Review : Hollywood : Agency Approves Rehabilitation Loans
A low-interest loan program has been established by the Los Angeles Community Redevelopment Agency to help property owners in Hollywood save and rehabilitate buildings of historical significance.
Redevelopment officials last week approved spending $225,000 on the program.
The assistance plan is similar to existing residential rehabilitation plans in other areas, except that it emphasizes historically significant buildings and is not limited to low- and moderate-income property owners or tenants, according to the CRA.
The CRA would distribute a maximum of $7,500 for each property owner in direct grants for exterior improvements and landscaping work in conjunction with the low-interest rehabilitation loans.
The CRA will give highest priority to owners of buildings in a 16-block residential area bounded by Sunset Boulevard on the north, Wilcox Avenue on the east, Highland Avenue on the west and Fountain Avenue on the south. That area has a high concentration of four-unit residential structures that are in poor physical condition, according to the CRA report.
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