LA County Board

1-D. MacLaren Esperanza Village Project\nRecommendation as submitted by Supervisor Solis: Approve the\ndesignation of the Executive Director of the Los Angeles County\nDevelopment Authority to serve as the agent of the County of Los Angeles\n(County) to manage the development of the Esperanza Village Affordable\nHousing Project, an affordable multifamily rental housing development,\nconsisting of approximately 202 affordable rental housing units reserved for\noccupancy by low-income persons/families, seniors, and persons with\nspecial needs, for a proposed 75-year ground lease term (Housing Project),\nlocated on a portion of the property located at 4024 Durfee Avenue in the\nCity of El Monte (Site); authorize the Executive Director to negotiate and\nexecute an Option to Lease Agreement between the County and MacLaren\nHall Partners, LLC, a California limited liability company, or its\nCounty-approved designee (Developer), to lease the Housing Project Site\nfor the development of the Housing Project; and authorize Executive\nDirector to serve as the agent to the County to manage development of the\nHousing Project, including execution of the Ground Lease, upon satisfaction\nof the conditions set forth in the Option to Lease Agreement, and any other\nadditional transaction documents consistent with and/or necessary for, the\nimplementation of the foregoing approvals, including execution of any\namendments to the foregoing documents. 4-VOTES (Relates to Agenda\nNo. 6) (24-3777)