The deal would cap annual rent increases at 5% plus inflation, with a 10% maximum increase.
Section 8 vouchers allow tenants to pay only 30% of their income toward rent with federal assistance to pay the rest. But most landlords do not accept tenants who pay with vouchers, saying they are too burdensome.
The funds will help rehabilitate the interior and exterior of units at Carmelitos, which officials said will positively affect nearly 200 children younger than 6 who are residents, authorities said.
An 88-unit affordable-housing development at the southwest corner of Anaheim Street and Walnut Avenue faced the Planning Commission.
City documents show that a final study session with the Planning Commission will precede a formal review from both the commission and City Council.
A small parcel on Redondo Avenue has been converted to a five-unit affordable housing complex specifically for adults with developmental disabilities.
The Las Ventanas project has officially broken ground to begin construction on a project that is set to house 102 affordable apartment units.