Meeting_Body
PLANNING AND PROGRAMMING COMMITTEE
JUNE 16, 2021
Subject
SUBJECT: JOINT DEVELOPMENT POLICY UPDATE
Action
ACTION: ADOPT UPDATED JOINT DEVELOPMENT POLICY
Heading
RECOMMENDATION
Title
ADOPT updated Joint Development Policy (Attachment A).
Issue
ISSUE
In order to strengthen Metro's?response to the housing crisis, staff recommends adoption of the updated Joint?Development?(JD) Policy which will increase the effectiveness of delivering JD projects and supporting equitable transit-oriented communities (TOCs).?To inform the?recommended JD Policy?update,?staff consulted key stakeholders,?researched best practices,?and analyzed the pipeline of future JD sites using?a custom financial model, all of which informed a Joint Development Affordable Housing Policy Paper (Policy Paper) which was presented to the Board in January 2021. The findings of the Policy Paper informed a virtual community event with over 300 attendees, an online survey, and additional conversations with key stakeholders, all of which have been reflected in the updated JD Policy (Attachment A). Key changes to the JD Policy are summarized in the Matrix of Changes (Attachment B).
Background
BACKGROUND
The Metro JD Program is a real estate management program that creates partnerships with private sector developers to build developments on Metro properties. The JD Program is guided by the existing JD policy document, the Joint Development Program: Policy ("JD Policy"), which was last updated in January 2017.The Metro JD Program has generated nearly 2,200 units of housing on Metro property to date, more than 1/3 of which are affordable. The number of units will more than double in the next few years bringing more than 1,000 affordable units online. Yet the issue of housing undersupply, affordability and homelessness have only worsened in LA County, and the Metro Board directed JD staff to assess what more Metro could do to address this regional crisis.?Staff convened an internal wo...
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