City Council

(19) 19-0362-S1 CD 9 ECONOMIC DEVELOPMENT AND JOBS COMMITTEE REPORT relative to authorization to negotiate and execute an exclusive negotiation agreement (ENA) and related contractual documents for the disposition and development of City property located at 5867 South Los Angeles Street. Recommendations for Council action: 1. AUTHORIZE the General Manager, Economic Workforce Development Department (EWDD), in consultation with the General Manager, Los Angeles Housing Department (LAHD), and the General Manager, Department of Recreation and Parks (RAP), or the respective designees, to negotiate and execute an ENA for a 12-month period, with the option to extend the ENA for an additional 12 months, depending on the due diligence period findings and the time required for environmental clearances and securing project entitlements, with The Bakewell Company of California, LLC; The Michaels Organization, and The Brotherhood Crusade, LLC to construct a mixed-use residential, recreational, retail, and commercial development, and a separate City- owned park (collectively, Slauson and Wall Project), located at 5867 South Los Angeles Street, Los Angeles, California 90003, Assessor Parcel Number 6006-003-900 (Property). 2. REQUEST the Bureau of Engineering and the Department of City Planning to work with the EWDD to divide the Property into a park parcel and a housing / commercial parcel. 3. AUTHORIZE the General Manager, EWDD, in consultation with the General Manager, LAHD, and the General Manager, RAP, or their respective designees, to make technical corrections or adjustments that may be required and are consistent with this action. Fiscal Impact Statement: The Municipal Facilities Committee reports that approval of the recommendations in the report will not have an impact on the General Fund. The extent of any future impact on the General Fund is unknown at this time. A future report(s) may request authority from the City Council and the Mayor to execute agreements between the City and Developer.