Metro - File #: 2018-0573

• File #: 2018-0573
• Type: Agreement
• Status: Agenda Ready
• File created: 8/27/2018
• In control: Planning and Programming Committee
• On agenda: 11/14/2018
• Title: AUTHORIZE the Chief Executive Officer to execute: A. An amendment to an existing Exclusive Negotiation Agreement and Planning Document ("ENA") with Bridge Housing Corporation - Southern California and East LA Community Corporation ("Bridge/ELACC"), that extends the term of the ENA to December 31, 2019 and provides for up to an additional 12-month term extension, if deemed necessary and prudent; and B. An amendment to an existing Joint Development Agreement ("JDA") with Taylor Yards, LLC, a development entity created by McCormack Baron Salazar, that extends the term of the JDA to March 31, 2020 and provides for up to an additional 12-month term extension, if deemed necessary and prudent.
• Sponsors: Planning and Programming Committee
• Indexes: 1St/Soto Jd (Project), Agreements, Boyle Heights, Budget, Budgeting, Central Los Angeles subregion, City of Los Angeles, Construction, Cypress Park, Exclusive Negotiation Agreement, Grant Aid, Housing, Joint development, Joint Development Agreement, Metro Gold Line, Metro Rail E Line, Metro Rail L Line, Safety, Soto Station, Taylor Yard Joint Development (Project), Westside/Central Service Sector
• Related files: 2018-0784

Meeting_Body
PLANNING AND PROGRAMMING COMMITTEE
NOVEMBER 14, 2018

Subject
SUBJECT: JOINT DEVELOPMENT PROJECTS IN BOYLE HEIGHTS AND TAYLOR YARD

Action
ACTION: APPROVE RECOMMENDATIONS

Heading
RECOMMENDATION

Title
AUTHORIZE the Chief Executive Officer to execute:

A. An amendment to an existing Exclusive Negotiation Agreement and Planning Document ("ENA") with Bridge Housing Corporation - Southern California and East LA Community Corporation ("Bridge/ELACC"), that extends the term of the ENA to December 31, 2019 and provides for up to an additional 12-month term extension, if deemed necessary and prudent; and

B. An amendment to an existing Joint Development Agreement ("JDA") with Taylor Yards, LLC, a development entity created by McCormack Baron Salazar, that extends the term of the JDA to March 31, 2020 and provides for up to an additional 12-month term extension, if deemed necessary and prudent.

Issue
ISSUE

Metro's existing ENA with Bridge/ELACC, which covers Metro property at and near the Gold Line's Soto station in Boyle Heights, will expire on December 22, 2018, and Metro's existing JDA with Taylor Yards, LLC, which addresses certain Metro property within the 17.75-acre Taylor Yard community in Cypress Park, will expire on April 2, 2019. Board authority is needed to extend these agreements in accordance with staff's recommendations to allow the parties to continue to pursue proposed development at these locations.

Discussion
DISCUSSION

Bridge/ELACC ENA

Metro and Bridge/ELACC have been parties to the ENA since June 22, 2016. This agreement was executed pursuant to Board authority granted in March 2016, and has provided a framework for exploring and advancing Bridge/ELACC's proposed project, known as Los Lirios. Under the ENA, the developer has worked with Metro and the community to revise and refine the project's scope and design. They recently concluding their 16th stakeholder meeting with a project update delivered to the Boyle Heights...