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CC:HA - ACTION ITEM - Approval of a Commitment Letter for a $21 Million Construction and Permanent Loan to 4464 Sepulveda Blvd, LP and Community Corporation of Santa Monica for the Jubilo Village Affordable Housing Project.
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Meeting Date: September 8, 2025
Contact Person/Dept.: Jesse Mays - Assistant City Manager
Tevis Barnes - Director of Housing and Human Services
Lisa Soghor - Chief Financial Officer
Phone Number: City Manager's Office (310) 253-6000
Housing and Human Services (310) 253-5780
Finance Department (310) 253-5865
Fiscal Impact: Yes [X] No [] General Fund: Yes [X] No []
Attachments: Yes [X] No []
Public Notification: (E-Mail) Meetings and Agendas - City Council (09/04/2025)
Department Approval: John Nachbar, City Manager (09/04/2025) _____________________________________________________________________
RECOMMENDATION
Staff recommends the City Council and the Culver City Housing Authority (Housing Authority) Board discuss and, if desired, approve a Commitment Letter for a $21 million construction and permanent loan to 4464 Sepulveda, LP and Community Corporation of Santa Monica for the Jubilo Village affordable housing project.
BACKGROUND
Jubilo Village
Jubilo Village is a proposed 100% affordable housing development at 4464 Sepulveda Boulevard that will provide 93 affordable one, two and three-bedroom apartments to at-risk and low-income households, as well as two manager's units. Jubilo will be service-enriched and provide onsite supportive services through a partnership with Upward Bound House, a Culver City local emergency shelter for homeless children and their families. In addition to providing residents with access to resources, Jubilo will also include onsite property management services. Jubilo will be developed by 4464 Sepulveda, LP in partnership with Community Corporation of Santa Monica ("CCSM") on property owned by Culver Palms United Methodist Church ("the Chu...
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