COMMUNICATIONS FROM THE CITY ADMINISTRATIVE OFFICER (CAO) and THE ECONOMIC AND WORKFORCE DEVELOPMENT DEPARTMENT (EWDD) relative to an Exclusive Negotiating Agreement (ENA) with NCNvision, LLC (NCNvision) to construct a mixed use residential/retail/commercial project (Project), and effectuate the purchase and sale of 3685 South Vermont Avenue (Property).

Recommendations for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR:

1. AUTHORIZE the General Managers, EWDD and Housing and Community Investment Department (HCID), or designees, to prepare and execute an ENA with NCNvision to construct the Project, and effectuate the purchase and sale of the Property.
   
   
2. REQUEST the City Attorney to prepare a Purchase and Sale Agreement, and related documents to effectuate the City’s purchase of the Property from the Community Redevelopment Agency of Los Angeles, a Designated Local Authority (CRA/LA-DLA) for the fair market value as determined by the methods described within the Option Agreement.
   
   
3. REQUEST the City Attorney to prepare and present a Development and Disposition Agreement, a Grant Deed, Covenant Agreement and Sale Ordinance to effectuate the City’s sale of the Property to buyer under the terms to be negotiated and for the fair market value as determined by the methods described within the Option Agreement.
   
   
4. REQUEST the Mayor to submit the Disposition Plan for the Property (APN 5040-030-905) to CRA/LA-DLA for approval, as required by the Option Agreement between the City and CRA/LA-DLA, in order to document how the Project conforms to the Redevelopment Plan, the Five Year Implementation Plan, and the South Los Angeles Community Plan.
   
   
5. AUTHORIZE the General Managers, EWDD and HCID, or designees, with the assistance of the Chief Legislative Analyst and City Administrative Officer (CAO), to prepare any additional documents necessary to effectuate the purchase and sale of the Property.
   
   
6. AUTHORIZE the General Managers, EWDD and HCID, or designees, to make technical corrections or adjustments that may be required and are consistent with this action, subject to the approval of the CAO.
   
   
7. INSTRUCT the EWDD and REQUEST the City Attorney to report back upon finalization of the various development agreements and documents for final approval.

Fiscal Impact Statement: The CAO reports that the fiscal impact to the General Fund is unknown at this time because the purchase price has not yet been determined. Consistent with the CRA/LA-DLA Future Development Option properties, once the transaction is completed, it is anticipated that the City’s General Fund will receive approximately 26 percent of the proceeds from the sale of the property.

Community Impact Statement: None submitted.

(Economic Development Committee waived consideration of the above matter)

CONSIDERATION OF MOTION (KREKORIAN - ENGLANDER) relative to the transfer of $1,500,000 within the Los Angeles Police Department (LAPD) budget to the Accumulated Overtime Account for sworn personnel.

Recommendations for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR:

1. AUTHORIZE the Controller to transfer $1,500,000 within the LAPD, Fund No. 100/70, from Account No. 1012, Sworn Salaries to Account No. 1095, Accumulated Overtime.
   
   
2. AUTHORIZE the LAPD to prepare Controller instructions for any technical adjustments, subject to the approval of the City Administrative Officer; and, AUTHORIZE the Controller to implement the instructions.
   
   

Community Impact Statement:  None submitted.

(Budget and Finance Committee waived consideration of the above matter)

CONSIDERATION OF MOTION (RODRIGUEZ - HARRIS-DAWSON) relative to identifying potential funding sources that could be used for property acquisition for the development of affordable housing in Council District Seven.

Recommendation for Council action:

INSTRUCT the Chief Legislative Analyst, with the assistance of the Los Angeles Housing and Community Investment Department and the City Administrative Officer, to report in 15 days identifying potential funding sources for property acquisition,  including the possible use of Community Redevelopment Agency Bond Funds, New Generation Funds, Supportive Housing Loan Funds, Community Development Block Grants, and the HOME Investment Partnerships Program that may be used to purchase property in Council District Seven.

Community Impact Statement:  None submitted.

(Housing Committee waived consideration of the above matter)

ADOPTED

AMENDING MOTION 17-A (RODRIGUEZ - RYU)

Recommendation for Council action:

INSTRUCT the Department of General Services, with the assistance of the Chief Legislative Analyst, to prepare a Class A Appraisal for the property and perform any other due diligence necessary to acquire the property.

ATTEST: Holly L. Wolcott, CITY CLERK

By:

Council Clerk                                    PRESIDENT OF THE CITY COUNCIL