Meeting_Body
PLANNING AND PROGRAMMING COMMITTEE
FEBRUARY 15, 2017
Subject/Action
SUBJECT: NORTH HOLLYWOOD JOINT DEVELOPMENT
ACTION: AUTHORIZE EXTENSION OF EXISTING SHORT TERM EXCLUSIVE NEGOTIATION AND PLANNING AGREEMENT FOR 90 DAYS
Heading
RECOMMENDATION
Title
AUTHORIZE the Chief Executive Officer to extend the existing nine-month Short Term Exclusive Negotiation Agreement and Planning Document (Short Term ENA) with Trammell Crow Company and Greenland USA (together, Developer) for an additional 90 days, to conduct community outreach and refine the project scope for a mixed-use real estate development (Project) on the Metro-owned property at the North Hollywood Red Line Station (Site).
Issue
ISSUE
On June 24, 2016, Metro and the Developer entered into a 6-month Short Term ENA. Both parties executed a 3-month extension of the Short Term ENA on December 24, 2016. During this 9-month term, the Developer used good faith efforts to carry out its obligations and substantially performed pursuant to the requirements of the agreement. However, additional time is needed for Metro and the Developer to 1) confirm feasibility of transit infrastructure requirements for project shaping; 2) ensure that the proposed development does not physically preclude relevant transit projects funded by the approval of Measure M; and 3) conduct further public outreach to share the results of these feasibility studies and site programming and gather feedback. Staff recommends extending the existing Short Term ENA for an additional 90 days to allow for further advancement and refinement of the Project site plan, development phasing and financial feasibility and to conduct community outreach before seeking authority to execute a standard term ENA.
Discussion
DISCUSSION
The North Hollywood Station is a regional, multi-modal transportation hub that includes the termini of the Metro Red and Orange Lines, two bus layover facilities, and a Metro park-and-ride lot. The Site is compri...
Click here for full text