Meeting_Body
PLANNING AND PROGRAMMING COMMITTEE
MARCH 17, 2021
Subject
SUBJECT: EXPO/CRENSHAW STATION JOINT DEVELOPMENT AND FIRST/LAST MILE PLAN
Action
ACTION: APPROVE RECOMMENDATIONS
Heading
RECOMMENDATION
Title
CONSIDER:
1. AUTHORIZING the Chief Executive Officer to execute an amendment to the Exclusive Negotiation Agreement and Planning Document with WIP-A, LLC, a wholly-owned subsidiary of Watt Companies, Inc., and the County of Los Angeles to extend the term for 12 months, and provide for an additional 12-month administrative extension, which agreement is in regards to the joint development of 1.77 acres of Metro-owned property and 1.66 acres of County-owned property at the Expo/Crenshaw Station in partnership with West Angeles Community Development Corporation; and
2. ADOPTING the Expo/Crenshaw First/Last Mile Plan.
Issue
ISSUE
Metro, the County of Los Angeles (County) and WIP-A, LLC, a wholly-owned subsidiary of Watt Companies, Inc., a California corporation (Developer) are parties to an Exclusive Negotiation Agreement and Planning Document (ENA) regarding the development of a mixed-use project (Project) adjacent to the Expo/Crenshaw Station (See Attachment A - Site Map) which will be delivered and operated in partnership with West Angeles Community Development Corporation (WACDC). An extension of the ENA term, which is set to expire in April 2021, is necessary to allow the Developer sufficient time to secure Project financing, fully entitle and environmentally clear the Project with the City of Los Angeles (City) and finalize negotiations of the Joint Development Agreement (JDA) and Ground Lease (GL) terms, which terms shall be subject to Metro Board of Directors (Metro Board) and County Board of Supervisors (County Board) approval.
Additionally, staff have completed a First/Last Mile (FLM) Plan for the E Line (Expo) and Crenshaw/LAX Transit Project's Expo/Crenshaw Stations. The FLM Plan proposes streetscape and roadway improveme...
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