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(5)\n24-0976-S1\nCD 14\nSustainable Communities Environmental Assessment (SCEA), Mitigation\nMonitoring and Reporting Program and related Environmental findings; and a\nreport from the Los Angeles City Planning Commission relative to a Transfer of\nFloor Area Rights (TFAR) of up to 274,795 square feet of floor area from the\nLos Angeles Convention Center (Donor Site), located at 1201 South Figueroa\nStreet, to the Project Site (Receiver Site), thereby permitting a maximum 9.13:1\nFloor Area Ratio (FAR) in lieu of the otherwise permitted 6:1 FAR; the TFAR\nTransfer Payment in the amount of $1,373,975, pursuant to Section 14.5.10 of\nChapter 1 of the Los Angeles Municipal Code (LAMC), and Public Benefits\nPayment in the amount of $11,462,471.39, pursuant to Sections 14.5.9 and\n14.5.6B of Chapter 1 of the LAMC; and request to the Chief Legislative Analyst\nto convene the Public Benefit Trust Fund Committee within six months of the\nreceipt of the Public Benefits Payment by the Public Benefit Trust Fund,\npursuant to Section 14.5.12 of Chapter 1 of the LAMC; for the demolition of\nexisting surface parking lot and the construction, use, and maintenance of a\n51-story mixed use development comprised of 536 residential dwelling units\nand up to 4,178 square feet of ground floor commercial uses on a 36,120\nsquare foot lot area pre-dedication and 35,734 square feet of lot area post-\ndedication. The Project would provide 581 automobile parking spaces for\nresidential use in six subterranean levels and three above-grade levels. The\nbuilding would have a maximum height of 603 feet, a floor area ratio of 9.13:1\n(491,515 square feet), the removal of one street tree on Olive Street and\nreplacement with six new London plane trees; the removal of two street trees\non 11th Street and replacement with two Chinese flame trees; and would\nrequire the export of approximately 118,543 cubic yards of soil; for the property\nlocated at 1105 – 1123 South Olive Street; subject to Conditions of Approval;\nand adoption of project findings. (The SCEA, No. ENV-2018-2601-SCEA was\nconsidered and adopted by the City Council on December 11, 2024)\nApplicant: Kevin Lindquist, MREG 1105 Olive, LLC\nRepresentative: Paul Garry, Psomas\nCase No. CPC-2018-2600-ZV-TDR-DD-SPR-MCUP\nEnvironmental No. ENV-2018-2601-SCEA\nRelated Case No. VTT-82109\nFiscal Impact Statement: Yes