Meeting_Body
PLANNING AND PROGRAMMING COMMITTEE
NOVEMBER 18, 2015
Subject/Action
SUBJECT: METRO GOLD LINE - 1st AND SOTO AND CESAR CHAVEZ AND SOTO JOINT DEVELOPMENT PROJECTS
ACTION: AUTHORIZE EXECUTION OF AMENDMENT TO SHORT TERM EXCLUSIVE NEGOTIATION AGREEMENT FOR 1ST AND SOTO AND AUTHORIZE EXECUTION OF AN EXCLUSIVE NEGOTIATION AGREEMENT FOR CESAR CHAVEZ AND SOTO JOINT DEVELOPMENT PROJECTS
Heading
RECOMMENDATION
Title
AUTHORIZING the Chief Executive Officer (CEO) to:
A. AMEND the existing Short Term Exclusive Negotiating Agreement with Bridge Housing Corporation/East LA Community Corporation for the property at 1st and Soto; and
B. EXECUTE an Exclusive Negotiating Agreement with Abode Communities for the property at Cesar Chavez and Soto, for 18-months with the option to extend up to 30 months.
Issue
ISSUE
In December 2013 the Joint Development team issued separate Requests for Proposals ("RFPs") for three Metro-owned sites in Boyle Heights. Two of the RFPs solicited real estate development proposals for the Development Sites are depicted in Attachments A & B.
At the March 2015 board meeting of the Planning and Programming Committee, the joint development team was authorized to enter into six-month "Short Term" Exclusive Negotiating Agreements ("Short Term ENA") with Bridge/ELACC for property at 1st and Soto, and with Abode for property at Cesar Chavez and Soto, in order to initiate the community outreach process for the proposed mixed-use affordable housing projects located at each site. Since March, the community outreach process has been comprehensive and successful. On October 28, 2015 Abode presented their project to the Boyle Heights Neighborhood Council (BHNC). The BHNC approved having the project move forward and enter into an ENA with Metro. The project at 1st and Soto will go before the BHNC early next year; however the current Short Term ENA will expire on December 26, 2015.
Discussion
DISCUSSION...
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