The Los Angeles County Development Authority (LACDA) is the County’s affordable housing and community development agency. The LACDA helps strengthen neighborhoods, empower families, support local economies, and promote individual achievement. The LACDA maintains many administrative buildings and 68 housing developments that include over 3,229 residential units within the County of Los Angeles. The LACDA’s surplus funds are invested in accordance with the California State Code 53600-53609. LACDA’s investments total over $730MM with approximately 20% of that amount invested in local pools, money market, and demand deposit accounts. The remainder is invested in diversified securities ranging from municipal bonds to asset backed securities. LACDA is seeking to develop a cloud-based Investment Portfolio Management System (IPMS) with an added investment accounting module for managing investment portfolios.
