Meeting_Body
PLANNING AND PROGRAMMING COMMITTEE
MAY 15, 2024
Subject
SUBJECT: NORTH HOLLYWOOD JOINT DEVELOPMENT
Action
ACTION: APPROVE RECOMMENDATION
Heading
RECOMMENDATION
Title
AUTHORIZE the Chief Executive Officer or designee to extend the existing Exclusive Negotiation Agreement and Planning Document with NOHO Development Associates, LLC, a Delaware limited liability company (Developer) for the North Hollywood Joint Development Project for an additional six (6) months.
Issue
ISSUE
Since 2016, staff and the Developer have collaborated under a Board-authorized Exclusive Negotiation Agreement and Planning Document (ENA) to conduct community outreach, refine the Development design, negotiate key terms and conditions for a Joint Development and Option Agreement (JDOA) in the form of a Ground Lease, and review CEQA studies associated with the Development. The current ENA expires June 12, 2024. Staff recommends the extension of the existing ENA to facilitate completion of the final terms of the JDOA.
Background
BACKGROUND
The North Hollywood Station (Station) is the third busiest station in the Metro system and includes the termini of the Metro B Line and G Line, two bus layover facilities, and a Metro park-and-ride lot. Metro owns approximately 16 acres of land surrounding the Station (Site).
In 2015, Metro conducted an extensive community outreach process, which revealed the desire for intensified urban uses, community open space, and public art-all of which were summarized into Development Guidelines and adopted by the Board in December 2015. Those Development Guidelines were the basis of a competitive solicitation for the joint development of the Site. Through that competitive solicitation, Trammell Crow Company and Greenland USA were together selected as the joint development partners for the Site and entered into a Short-Term ENA with Metro in 2016.
As milestones and requirements of the Short-Term ENA were met, th...
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