https://metro.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=4799014&GUID=D9B8C50A-BE9E-48CF-A45F-F8DF5BFB5E3E&G=A5FAA737-A54D-4A6C-B1E8-FF70F765FA94Legistar15https://metro.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=4799014&GUID=D9B8C50A-BE9E-48CF-A45F-F8DF5BFB5E3E&G=A5FAA737-A54D-4A6C-B1E8-FF70F765FA94D9B8C50A-BE9E-48CF-A45F-F8DF5BFB5E3E-2025-06-09-06-42-41Title: CONSIDER: A. AUTHORIZING the Chief Executive Officer (“CEO”) to execute a Joint Development Agreement (“JDA”), ground lease and other development-related documents (collectively, the “Development Documents”) with a joint venture between Bridge Housing Corporation - Southern California and East LA Community Corporation (collectively, the “Developer”) or an affiliate of the Developer, for the construction and operation of a mixed-use affordable housing project (the “Project”) on a portion of the Metro-owned property at and adjacent to the Metro L Line (Gold) Soto station in Boyle Heights (the “Site”), all in accordance with the Summary of Key Terms and Conditions (“Term Sheet”) attached hereto as Attachment A; B. AUTHORIZING an exception to the Joint Development Policy, to allow for a $3,117,000 (approximately 72%) discount to the $4,317,000 fair market capitalized rent for the Site under the ground lease, which is above the current policy limit of 30%; C. CONSIDERING, pursuant to Public Resources Code Section 21155.2, the environmental effects of the Project as shown in the SMon, 09 Jun 2025 06:42:41 GMT