Meeting_Body
PLANNING AND PROGRAMMING COMMITTEE
MAY 15, 2019
Subject
SUBJECT: 1ST AND LORENA JOINT DEVELOPMENT
Action
ACTION: APPROVE RECOMMENDATION
Heading
RECOMMENDATION
Title
AUTHORIZE the Chief Executive Officer to execute an amendment to the Exclusive Negotiations and Planning Agreement with A Community of Friends to extend the term for an additional 24 months for the joint development of Metro-owned property at 1st and Lorena Street along the Metro Gold Line.
Issue
ISSUE
Metro and A Community of Friends (Developer) are parties to an Exclusive Negotiations and Planning Agreement (ENA) for the development of a 49-unit mixed-use affordable housing project (Proposed Project) at 1st and Lorena that is set to expire on June 27, 2019. The Proposed Project entitlements have been held up pending resolution of a California Environmental Quality Act (CEQA) lawsuit from an adjacent property owner. An extension of the ENA term is necessary to allow the Developer to complete environmental clearance and finalize Joint Development Agreement (JDA) and Ground Lease (GL) terms, subject to Metro Board of Directors (Board) approval.
Background
BACKGROUND
In June 2013, Metro and the Developer entered into an ENA to plan and consider the terms and conditions of a potential JDA and GL for development of a mixed-use affordable housing project on a 0.7-acre portion of a 1.26-acre Metro-owned site at the intersection of 1st St. and Lorena St. in Boyle Heights. The site is situated in the vicinity of the Metro Gold Line Indiana Station (see Attachment A - Site Map).
During the ENA term, which has included a number of extensions authorized by the Board, the Developer has diligently advanced the project through design development and entitlements including holding a number of community meetings and stakeholder engagements which helped shape the Proposed Project.
The Proposed Project scope calls for a mixed-use development inclusive of: 48 units of affordable h...
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