Version:1.0 StartHTML:0000000105 EndHTML:0000004932 StartFragment:0000002297 EndFragment:0000004896
The 15-year battle for Lincoln Place, one of the nation’s oldest, largest, most historically significant and most beautiful affordable housing complexes may finally be approaching resolution.
Since the early 1990s, residents of the
Venice complex have opposed developers’ plans to remake it along more profitable lines.
The following joint statement suggests that substantial progress has been made.
“Los Angeles – On August 11 and 12, 2009, Aimco Venezia LLC (“AIMCO”), the Lincoln Place Tenants Association (“LPTA”) and certain tenant leaders and representatives executed a settlement agreement that will move the parties closer to resolving years of litigation over the future of Lincoln Place Apartments, help pave the way for a redevelopment of the property, including rehabilitation of existing structures, return many of the tenants to Lincoln Place, and help the return of much-needed rental housing to the Westside of Los Angeles. The settlement agreement is complex and subject to ratification by all settling tenants, a process which will take some time, as the documents must be reviewed and executed individually by all of the former tenants and current occupants involved. In addition, the city is still reviewing terms involving its participation in settling the litigation, and certain contingencies must be satisfied before the settlement agreement becomes a final reality. The parties have been meeting regularly for many months to achieve a workable compromise on some very thorny issues, and hope to have good news to report in the near future.”