Metro - File #: 2019-0624

• File #: 2019-0624
• Type: Agreement
• Status: Agenda Ready
• File created: 8/5/2019
• In control: Planning and Programming Committee
• On agenda: 11/20/2019
• Title: AUTHORIZE the Chief Executive Officer to execute an amendment to the Exclusive Negotiation Agreement and Planning Document with Watt Companies, doing business as WIP-A, LLC, and the County of Los Angeles for 12 months with the option to extend for an additional four months for the joint development of 1.77 acres of Metro-owned property and 1.66 acres of County-owned property at the Expo/Crenshaw Station.
• Sponsors: Planning and Programming Committee
• Indexes: Agreements, Budgeting, Central Los Angeles subregion, City of Los Angeles, Crenshaw Station, Crenshaw/LAX Transit Corridor Project, Exclusive Negotiation Agreement, Expo/Crenshaw Jd (Project), Expo/Crenshaw Station, Guidelines, Housing, Joint development, Joint Development Agreement, Maps, Metro Crenshaw Line, Metro Exposition Line, Metro Green Line, Metro Rail C Line, Metro Rail E Line, Metro Rail K Line, Outreach, Procurement, Project, San Fernando Valley subregion, South Bay Cities subregion, Transit Oriented Community, Urban design, Westside Cities subregion

Meeting_Body
PLANNING AND PROGRAMMING COMMITTEE
NOVEMBER 20, 2019

Subject
SUBJECT: EXPO/CRENSHAW JOINT DEVELOPMENT

Action
ACTION: APPROVE RECOMMENDATION

Heading
RECOMMENDATION

Title
AUTHORIZE the Chief Executive Officer to execute an amendment to the Exclusive Negotiation Agreement and Planning Document with Watt Companies, doing business as WIP-A, LLC, and the County of Los Angeles for 12 months with the option to extend for an additional four months for the joint development of 1.77 acres of Metro-owned property and 1.66 acres of County-owned property at the Expo/Crenshaw Station.

Issue
ISSUE

Metro, the County of Los Angeles (County) and Watt Companies, doing business as WIP-A, LLC (Developer) are parties to an Exclusive Negotiation Agreement and Planning Document (ENA) for the development of a mixed-use project adjacent to the Expo/Crenshaw Station (See Attachment A - Site Map). The development program includes a minimum of 400 total rental units (15% of which will be restricted to households earning 30% or less of area median income, and 5% of the total units restricted to households earning 30-80% of area median income), and at least 40,000 square feet of commercial and community space (Project). The ENA is set to expire on December 15, 2019. An extension of the ENA term is necessary to allow the Developer sufficient time to fully entitle and environmentally clear the Project with the City of Los Angeles and finalize the Joint Development Agreement (JDA) and Ground Lease (GL) terms, subject to Metro Board of Directors (Metro Board) and County Board of Supervisors (County Board) approval.

Background
BACKGROUND

Following a competitive solicitation process, the Metro Board and County Board approved entering into a six-month ENA in late 2017/early 2018 with the Developer for joint development of Metro and County-owned parcels at the Expo/Crenshaw Station (Site). The six-month ENA provided an interim period before executing a long-term ENA so...