City Council

(2) 14­1411­S5 PLANNING AND LAND USE MANAGEMENT COMMITTEE REPORT relative to the distribution of funds held in the Transfer of Floor Area Rights (TFAR) Public Benefit Payment Trust Fund (Trust Fund). Recommendations for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR: 1. APPROVE the 47 projects and programs listed in Attachment A of the Chief Legislative Analyst (CLA) report dated August 6, 2024, entitled as “Proposed 2023 TFAR Trust Funded Projects/Programs by Council District,” included as an attachment of the CLA Report dated August 14, 2024 (CLA Report), attached to the Council file (CF), for a total amount of $16,628,875.44 from the TFAR Trust Fund. 2. APPROVE the reprogramming and reversion of the following three TFAR Trust Fund public benefit projects and programs described in Attachment B of said CLA Report, entitled as “Proposed Reprogramming of 2014 and 2018 TFAR Trust Funded Projects/Programs”: a. $130,475.85 allocated to the Community Plan Implementation Overlay for Temple, Beverly, and Third Street Corridors Project (CF 14­1411) to the PWC Cultural Place Making Project, in Council District (CD) 13. b. $250,000 allocated to the Urban TXT Programming Project (CF 14­1411­S3) to the Urban Wall Street: The Ecosystem of Sustainable Communities Project in the amount of $100,000; Gang Intervention and Community Healing Project in the amount of $100,000; and, the Legacy Business Program in the amount of $50,000, in CD 9. c. Revert a total of $1,819,356 to the TFAR Trust Fund, which includes $1,000,000 from the La Opinion Affordable Housing Project and $819,356 from the City Planning Administration Budget (CF 14­1411­S3). 3. AUTHORIZE the CLA to prepare and submit instructions to the Controller to facilitate the funding of these projects and programs from the TFAR Trust Fund, including an instruction to revert $1,000,000 originally allocated to the La Opinion Affordable Housing Project in CD 9 from the Los Angeles Housing Department Affordable Housing Trust Fund to the TFAR Trust Fund, inasmuch as the Project was rescinded and its funding reprogrammed to the Coalition for Responsible Community Development. 4. AUTHORIZE the Controller to implement these instructions consistent with the recommendations in said CLA Report to allocate and expend funds for these projects/programs. Fiscal Impact Statement: The CLA reports that there is no impact on the City’s General Fund from the recommended actions.