Metro - File #: 2024-0377

• File #: 2024-0377
• Type: Project
• Status: Agenda Ready
• File created: 5/21/2024
• In control: Planning and Programming Committee
• On agenda: 10/23/2024
• Title: CONSIDER: A. AUTHORIZING the Chief Executive Officer, or designee, to execute and enter into a Joint Development Agreement (JDA), ground lease (Ground Lease), and other related documents with East Los Angeles Community Corporation (ELACC) (Developer), for the construction and operation of an affordable housing project (Project) on two separate parcels, totaling approximately 33,000 square feet, of Metro-owned property located at the corner of Pennsylvania Avenue and North Vicente Fern?ndez Street in Boyle Heights (Site) in accordance with the Summary of Key Terms and Conditions attached hereto as Attachment A and upon receipt of concurrence by the Federal Transit Administration (FTA); B. AUTHORIZING a 65%, or $2,200,000, discount to the appraised fair market rental value of the Site under the Ground Lease; C. FINDING that the Project is exempt from the California Environmental Quality Act (CEQA) pursuant to Sections 21080(b)(9) and 21084 of the California Public Resources Code and ...
• Sponsors: Board of Directors - Regular Board Meeting
• Indexes: Agreements, Bids, Boyle Heights, Budgeting, California Environmental Quality Act, Central Los Angeles subregion, City of Los Angeles, Construction, Contractors, Debt, Exclusive Negotiation Agreement, Federal Transit Administration, Grant Aid, Guidelines, Housing, Joint development, Joint Development Agreement, Joint Development Policy, Mariachi Plaza Station, Market value, Metro Rail E Line, Outreach, Payment, Plan, Preservation, Project, Property Agreement, Request For Proposal, Safety, San Fernando Valley subregion, South Bay Cities subregion, Tenants, Westside Cities subregion, Westside/Central Service Sector, Zoning

Meeting_Body
PLANNING AND PROGRAMMING COMMITTEE
OCTOBER 23, 2024

Subject
SUBJECT: MARIACHI PLAZA JOINT DEVELOPMENT

Action
ACTION: APPROVE RECOMMENDATION

Heading
RECOMMENDATION

Title
CONSIDER:

A. AUTHORIZING the Chief Executive Officer, or designee, to execute and enter into a Joint Development Agreement (JDA), ground lease (Ground Lease), and other related documents with East Los Angeles Community Corporation (ELACC) (Developer), for the construction and operation of an affordable housing project (Project) on two separate parcels, totaling approximately 33,000 square feet, of Metro-owned property located at the corner of Pennsylvania Avenue and North Vicente Fern?ndez Street in Boyle Heights (Site) in accordance with the Summary of Key Terms and Conditions attached hereto as Attachment A and upon receipt of concurrence by the Federal Transit Administration (FTA);

B. AUTHORIZING a 65%, or $2,200,000, discount to the appraised fair market rental value of the Site under the Ground Lease;

C. FINDING that the Project is exempt from the California Environmental Quality Act (CEQA) pursuant to Sections 21080(b)(9) and 21084 of the California Public Resources Code and Section 15332 (In-Fill Development Projects) of the CEQA Guidelines, consistent with the environmental studies and reports set forth in Attachment B and authorizing the Chief Executive Officer or designee to file the appropriate Notice of Exemption for the Project in accordance with said finding by the Board; and

D. DECLARING the Site to be exempt surplus land, pursuant to the Surplus Land Act (SLA), Government Code Section 54220 et seq, based on the qualifying factors and criteria described herein.

Issue
ISSUE

Since 2018, staff and the Developer have collaborated under a Board-authorized Exclusive Negotiation Agreement and Planning Document (ENA) to conduct community outreach, refine the Project design, negotiate key terms and conditions for a JDA and Ground Lease, and study relevant C...