The best article about Lake Balboa's shaky past was reported by The Times on 4/26/07. Here's the link. http://articles.latimes.com/2007/apr/26/local/me-hoods26 Basically, the original Lake Balboa neighborhood was never filed properly with the City. The Lake Balboa Neighborhood Council worked to make the neighborhood official, and in the process, to enlarge it to include some of the Van Nuys neighborhoods of some vocal members who wanted in. One good thing about the bigger and now official Lake Balboa is people might actually know where it is, I can't think of anything else good about it. There is a map of it on the Lake Balboa Neighborhood Council's website. (http://www.lakebalboanc.org/)
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