Millineum Housing

660 Newport Center Drive, Suite 1020 | Newport Beach, CA 92660

(949) 515-5100 | (949) 515-5101 fax

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The Copacabana is a 173-space all-age community in La Verne, a town with historic charm in eastern Los Angeles County.

Copacabana is well located on Arrow Highway, with convenient access to the 10 and 210 freeways, just south of Foothill Boulevard (Route 66). Residents enjoy the use of the pool, clubhouse/recreation center, library and two air-conditioned laundry buildings. Many large new homes have come into the park in the past few years, a tribute to Copa’s desirability and great location.

Millennium Housing purchased Copacabana in April, 2003 with the help of the La Verne Redevelopment Agency. La Verne allowed us to sell low interest tax-exempt bonds and provided a contingent guarantee that helped make the bonds more attractive. This enabled us to bring the Millennium program to Copacabana, as follows:

• We will follow La Verne’s rent control ordinance, even if rent control is repealed by a later City Council or court. This is rent control that can’t be taken away! This is particularly important at Copacabana because the prior owner had threatened a near doubling of rents until the City forced a partial rent rollback.
  
  
• $400,000 was set aside to address longstanding deferred maintenance problems, particularly the streets, without any pass-through of the costs to the homeowners.
  
  
• Additional funds are set aside each year for long-term capital improvements to bring the park back to its former glory.
  
  
• All funds remaining after paying the bills and Millennium’s asset management fee remain in the park for improvements and other items suggested in consultation with the park residents.

One of the first major changes we implemented in Copacabana was the creation of a Resident Advisory Committee (“RAC”). Previously, park residents had no voice in how their community was operated. Through regular meetings with the RAC, we can be certain that we are addressing priorities set by our homeowners, as we discuss park policies, budgets and capital improvement needs.

We are excited about the future, as homeowners and management work together to make Copacabana a great place to live.