Los Angeles Administrative Code div. 7, ch. 1, art. 4.1 — PURCHASE AND SALE OF REAL PROPERTY TO ASSIST NONPROFIT CORPORATION FINANCINGS | Los Angeles Administrative Code (2026 Rev. 9, current through legislation effective June 30, 2026) — Los Angeles

Los Angeles Administrative Code § 7.33.50 Procedures.

Sec. 7.33.50. Procedures. The Council may determine that it is in the public interest to assist a nonprofit corporation in financing or refinancing its acquisition and improvement of real property and equipment and that the assistance requires the City to purchase real property from the nonprofit corporation and then re-sell the real property back to the nonprofit corporation, or requires an equivalent lease/leaseback of real property. The Council may by resolution or ordinance authorize the execution of any deed, contract, lease, installment purchase agreement, installment sale agreement, trust agreement, or other instruments as may be necessary to accomplish the purchase, sale, or lease at and for a price or consideration and upon the terms and conditions to be specified in the resolution or ordinance. SECTION HISTORY Article and Section Added by Ord. No. 177,328, Eff. 3-11-06.