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Legislation Details
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File #:
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HIST-22401
Version:
1
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Subject:
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Type:
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Historical
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Status:
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Action Item
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On agenda:
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6/10/2013
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Final action:
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6/10/2013
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Title:
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Adoption of a Resolution Approving the Proposed Long Range Property Management Plan.
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Attachments:
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1. Adoption of a Resolution Approving the Proposed Lo - SA__A-1__13-06-10__CDD_Successor Agency_Long Range Property Management Plan - FINAL.pdf, 2. Adoption of a Resolution Approving the Proposed Lo - ATT 0 Long Range Property Management Plan.pdf, 3. Adoption of a Resolution Approving the Proposed Lo - ATT 1a Parking Facilities.pdf, 4. Adoption of a Resolution Approving the Proposed Lo - ATT 1b Parking Facilities.pdf, 5. Adoption of a Resolution Approving the Proposed Lo - ATT 2 Parcel B Town Plaza Expansion.pdf, 6. Adoption of a Resolution Approving the Proposed Lo - ATT 3 Washington Centinela Project.pdf, 7. Adoption of a Resolution Approving the Proposed Lo - ATT 4 Jazz Bakery Project.pdf, 8. Adoption of a Resolution Approving the Proposed Lo - ATT 5 Washington National.pdf, 9. Adoption of a Resolution Approving the Proposed Lo - ATT 6 3433 Wesley Street.pdf, 10. Adoption of a Resolution Approving the Proposed Lo - ATT 7 Baldwin Project.pdf, 11. Adoption of a Resolution Approving the Proposed Lo - ATT 8 Kirk Douglas Theatre.pdf, 12. Adoption of a Resolution Approving the Proposed Lo - ATT 9 Ivy Substation Lease.pdf, 13. Adoption of a Resolution Approving the Proposed Lo - ATT 10 Media Park Lease.pdf
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City of Culver City, California
Agenda Item Report
Meeting Date: 06/10/2013 Item Number: A-1
SUCCESSOR AGENCY AGENDA ITEM: Adoption of a Resolution Approving the
Proposed Long Range Property Management Plan.
Contact Person/Dept.: Glenn Heald
Todd Tipton/CDD
Phone Number: 310-253-5752
310-253-5783
Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [X]
Public Hearing: [] Action Item: [X] Attachments: [X]
Commission Action Required: Yes [] No [X] Date: _______________
Public Notification: (E-Mail) Meetings and Agendas – Successor Agency (06/05/2013).
Department Approval:
Sol Blumenfeld (05/30/13)
Successor Agency General Counsel
Approval:
Carol Schwab (by H. Baker) (06/05/13)
Successor Agency Special Counsel
Approval:
Murray Kane (05/30/13)
Chief Financial Officer Approval:
Jeff Muir (06/05/13)
Executive Director Approval:
John M. Nachbar (06/05/13)
RECOMMENDATION:
Staff recommends the Successor Agency to the Culver City Redevelopment Agency
(Successor Agency) adopt a Resolution approving the Long Range Property
Management Plan (LRPMP) and direct the Executive Director to submit the LRPMP
to the California Department of Finance (DOF) pursuant to Assembly Bill No. x1 26
(AB 26), as amended by Assembly Bill No. 1484 (collectively, the Dissolution Act).
BACKGROUND:
Pursuant to the Dissolution Act, ownership of the real properties of the former Culver
City Redevelopment Agency (Former CCRA) was transferred on February 1, 2012 to
the Successor Agency. Pursuant to Health and Safety Code Section 34191.5, within
six months after receiving a Finding of Completion from the DOF, the Successor
Agency is required to submit for approval to the Oversight Board and the DOF the
LRPMP which addresses the disposition and use of the real properties of the Former
CCRA.
Though there is no deadline in statute related to when the DOF must complete its
review of LRPMPs, the DOF has indicated they will conduct the review of the plans
in the order they are submitted. DOF staff has recommended the Successor
Agency’s LRPMP be submitted as soon as it is completed and approved by the
Successor Agency and Oversight Board.
City of Culver City, California
Agenda Item Report
DISCUSSION:
The proposed LRPMP is a complete listing and narrative discussion of the proposed
disposition and use of Former CCRA assets. It contains all non-housing real
property assets that have been redeveloped or are proposed to be redeveloped,
remnant parcels and public parking assets and the expected revenues and tax
generation from each asset listed.
Specifically, the LRPMP includes 38 real properties (Properties) that were identified
or fit within the criteria for inclusion in the Non-Housing Due Diligence Review
pursuant to statutory criteria included in the Dissolution Act and in accordance with
DOF Guidelines. Although certain Properties are in various stages of negotiations
for disposition as further discussed in the LRPMP, the Properties are described in
detail under the following general categories:
1) Properties to be retained for governmental use;
2) Properties to be retained for future development;
3) Properties to be sold; and
4) Properties to be used to fulfill enforceable obligations.
Prior to submission to the DOF, the LRPMP must be approved by both the
Successor Agency and the Oversight Board. Should the Successor Agency Board
adopt the proposed resolution, staff will promptly present the LRPMP to the
Oversight Board for consideration. Should the Oversight Board approve the
LRPMP, staff will transmit it promptly to the DOF. The DOF’s approval or objection
to the LRPMP will be communicated in writing to the Successor Agency.
ENVIRONMENTAL DETERMINATION:
The approval of the LRPMP is not a project as defined by the California
Environmental Quality Act (CEQA).
FISCAL ANALYSIS:
There is no direct cost to the Successor Agency resulting from the approval of the
LRPMP. If DOF approves the LRPMP, any net proceeds from the sale of any of the
Properties will be used to satisfy enforceable obligations and/or be remitted to the
taxing entities as residual proceeds in accordance with the Dissolution Act.
ATTACHMENTS:
1. Proposed Resolution
2. Proposed Long Range Property Management Plan.
City of Culver City, California
Agenda Item Report
MOTION:
That the Successor Agency:
Adopt a Resolution approving the proposed Long Range Property Management
Plan and directing the Executive Director to present such Plan to the Oversight
Board and, if approved by the Oversight Board, to submit the approved Plan to
the California Department of Finance.
MEETING DATE: 06/10/2013
AGENDA ITEM: SUCCESSOR AGENCY BOARD AGENDA ITEM:
Approval of Long Range Property Management
Plan.
ATTACHMENTS
Pages
1. Successor Agency Resolution Approving Proposed Long Range 1-7
Property Management Plan.
2. Proposed Long Range Property Management Plan 8- 2245
ATTACHMENT 1_Successor Agency
Resolution Approving Proposed
Long Range Property Management Plan. ATTACHMENT 1_Successor Agency
Resolution Approving Proposed
Long Range Property Management Plan. ATTACHMENT 1_Successor Agency
Resolution Approving Proposed
Long Range Property Management Plan. ATTACHMENT 1_Successor Agency
Resolution Approving Proposed
Long Range Property Management Plan. ATTACHMENT 1_Successor Agency
Resolution Approving Proposed
Long Range Property Management Plan. ATTACHMENT 1_Successor Agency
Resolution Approving Proposed
Long Range Property Management Plan. ATTACHMENT 1_Successor Agency
Resolution Approving Proposed
Long Range Property Management Plan.
Long Range Property Management Plan
June 10, 2013
Submitted by:
Successor Agency to the
Culver City Redevelopment Agency
John M. Nachbar, City Manager
Sol Blumenfeld, Community Development Director
8Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Culver City Long Range Property Management Plan
Table of Contents
Introduction
Long Range Property Management Plan Summary Table
Descriptions of Properties Included in Plan
Property Summaries
Attachments
I. Properties to be Retained for Governmental Use
A. Parking Structures:
1. 9099 Washington Boulevard.
(Ince Parking Structure)
APN 4206-029-932.
2. 3846 Cardiff Avenue.
(Cardiff Parking Structure)
APN 4206-028-900,
4206-028-901.
3. 3844 Watseka Avenue,
3848 Watseka Avenue,
3864 Watseka Avenue.
(Watseka Parking Structure)
APN 4207-001-900,
4207-001-901,
4207-001-902,
4207-001-903,
4207-001-904.
9Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
B. Parking Lots:
4. 10401 Virginia Avenue,
10555 Virginia Avenue,
10601 Virginia Avenue.
(Virginia Parking Lot)
APN 4209-027-905,
4209-029-900,
4209-029-923,
4209-029-924,
4209-029-925.
5. 9415 Venice Boulevard,
9425 Venice Boulevard.
(Venice Parking Lot)
APN 4313-019-900,
4313-019-901,
4313-019-902,
4313-019-903.
6. 3713 Robertson Boulevard,
3715 Robertson Boulevard.
(Robertson Parking Lot #1)
APN 4206-033-917,
4206-033-936.
7. 3727 Robertson Boulevard.
(Robertson Parking Lot #2)
APN 4206-033-925.
8. 3757 Robertson Boulevard.
(Robertson Parking Lot #3)
APN 4206-033-932,
4206-033-934,
4206-033-935.
9. 12601 Washington Boulevard.
(Washington Parking Lot)
APN 4231-019-901.
10Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
10. 3825 Canfield Avenue.
(Canfield Parking Lot)
APN 4206-030-901.
C. Town Plaza Expansion / Combined-Hudson Project:
11. 9300 Culver Boulevard, Parcel 2.
(Town Plaza Expansion / Combined-Hudson Project)
APN 4206-029-935.
D. Washington-Centinela / Regency Project:
12. 12403 Washington Boulevard,
12413 Washington Boulevard,
12421 Washington Boulevard,
12423 Washington Boulevard,
4061 Centinela Avenue,
4063 Centinela Avenue.
(Site A)
APN 4231-002-901,
4231-002-902,
4231-002-903,
4231-002-904,
4231-002-905,
4231-002-906,
4231-002-907,
4231-002-909.
13. 4064 Colonial Avenue.
(Site A)
APN 4231-002-900,
4231-002-908.
E. Property Remnants and Undevelopable Parcels:
14. La Ballona Creek Parcel One.
APN 4205-005-908.
11Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
15. La Ballona Creek Parcel Two.
APN 4209-030-901,
4209-030-902.
II. Properties to be Retained for Future Development
A. Jazz Bakery Project:
16. 9814 Washington Boulevard.
(Jazz Bakery / Paskan House)
APN 4207-006-915.
III. Properties to be Sold
A. Washington-Centinela / Regency Project:
17. 12403 Washington Boulevard,
12413 Washington Boulevard,
12421 Washington Boulevard,
12423 Washington Boulevard,
4061 Centinela Avenue,
4063 Centinela Avenue.
(Site A)
APN 4231-002-901,
4231-002-902,
4231-002-903,
4231-002-904,
4231-002-905,
4231-002-906,
4231-002-907,
4231-002-909.
18. 4064 Colonial Avenue.
(Site A)
APN 4231-002-900,
4231-002-908.
19. 12337 Washington Boulevard.
(Site B)
APN 4232-009-901.
12Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
20. 12343 Washington Boulevard.
(Site B)
APN 4232-009-900.
B. Washington-National / Lowe Enterprises Project:
21. 8829 Exposition Boulevard.
APN 4312-014-913.
22. 8831 Exposition Boulevard.
APN 4312-014-911.
23. 8840 National Boulevard.
APN 4312-014-912.
24. 8841 Exposition Boulevard.
APN 4312-014-905.
25. 8843 Exposition Boulevard.
APN 4312-014-914.
26. 8824 National Boulevard,
8825 National Boulevard,
8828 National Boulevard,
8801 Washington Boulevard,
8803 Washington Boulevard.
APN 4312-014-915,
4312-014-916,
4312-014-917,
4312-014-918,
4312-014-919.
27. 8830-8834 National Boulevard.
APN 4312-014-910.
13Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
28. 8836 National Boulevard,
8838 National Boulevard.
APN 4312-014-907,
4312-014-908.
29. 8839 Exposition Boulevard.
APN 4312-014-909.
30. 8842 National Boulevard.
APN 4312-014-906.
31. 8846 National Boulevard.
APN 4312-014-270,
4312-014-271,
4312-014-900,
4312-014-901,
4312-014-902,
4312-014-903,
4312-014-904.
C. Parcel B / Combined-Hudson Project:
32. 9300 Culver Boulevard.
APN 4206-029-934.
D. Wesley Parking Lot:
33. 3433 Wesley Street.
(Wesley Parking Lot)
APN 4312-028-901.
IV. Properties to be Used to Fulfill Enforceable Obligations
A. Baldwin Site / Axis-Mundi Project:
34. 12803 Washington Boulevard.
APN 4236-021-902.
14Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
35. 12811 Washington Boulevard.
APN 4236-021-903.
36. 12813 Washington Boulevard.
APN 4236-021-900.
37. 12823 Washington Boulevard.
APN 4236-021-901.
B. Kirk Douglas Theatre:
38. 9820 Washington Boulevard.
(Kirk Douglas Theatre)
APN 4207-006-914.
C. Ivy Substation Lease:
39. 9070 Venice Boulevard.
(Ivy Substation Lease)
APN 4206-030-902.
D. Media Park Lease:
40. 9254 Venice Boulevard.
(Media Park Lease from City of Los Angeles)
APN 4206-034-906,
4206-030-902 (portion).
15Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Introduction
The City of Culver City (“City”) is a charter city incorporated in 1917, with a population of
approximately 40,000 within five square miles and surrounded by nearly 370,000
households within a five mile radius. Centrally located between the ocean and
downtown Los Angeles, Culver City is six miles north of Los Angeles International
Airport located near the intersection of the Santa Monica (I-10) and San Diego (I-405)
Freeways and the eastern terminus of the Marina Freeway (SR-90). With roots in the
early days of the motion picture industry, the City grew slowly as a center for media but
was otherwise commercially underdeveloped. Much of the City’s commercial and
industrial land was poorly utilized and its downtown and commercial corridors suffered
from disinvestment and blight. Today, Culver City is a modern and progressive
community that has flourished largely through its successful redevelopment programs,
providing an exceptional quality of life with great shopping, dining, and entertainment, a
vibrant business environment focused upon multimedia, fashion and architecture and
attractive residential districts.
The Culver City Redevelopment Agency (“Former Agency”) was created in 1971 to
reverse problems of blight and to facilitate the City’s desire to take a proactive role in
shaping its own destiny through economic development. The Former Agency was
created and operated as a separate legal and financial entity from the City, and
exercised all rights and powers pursuant to the California Community Redevelopment
Law, codified at Sections 33000 et seq. of the California Health and Safety Code
(“Health and Safety Code”). State law empowered the Former Agency to implement
adopted redevelopment plans through a wide range of powers. Under that authority,
the Former Agency’s acted to stimulate development, eliminate blight, improve
infrastructure and provide housing where the private sector could not accomplish such
goals on its own. Toward that purpose, in 1971, the Former Agency established what
was then known as the “Slauson-Sepulveda Redevelopment Project No. 1” and the
“Overland-Jefferson Project No. 2”, followed by the “Washington-Culver Project No. 3”
in 1975.
On November 23, 1998 the City Council approved Ordinance No. 98-014, by which the
redevelopment plan for each of the three aforementioned projects was amended to
merge the separate projects into a single project, known as the “Culver City
Redevelopment Project” (“Project Area”). The City Council subsequently adopted
Ordinance No. 98-015, adding the territory known as "Component Area No. 4" to the
merged Project Area. The Culver City Redevelopment Project Area now, therefore,
comprises 1,286 acres, or about 40% of the area of Culver City.
On June 28, 2011 the Governor signed Assembly Bill No. X1 26 (“AB 26”) dissolving all
California redevelopment agencies and establishing successor agencies vested with the
responsibility of paying, performing and enforcing the enforceable obligations of the
former redevelopment agencies and to wind down the affairs of the dissolved
16Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
redevelopment agencies through, among other things, making payments due for
enforceable obligations, as defined, performing obligations required pursuant to any
enforceable obligation, disposing of all assets of the former redevelopment agency, and
remitting unencumbered balances of redevelopment agency funds, including housing
funds, to the county auditor-controller for distribution to taxing entities
On January 9, 2012 the City Council adopted Resolution No. 2012-R001 pursuant to
Part 1.85 of AB 26, electing for the City to serve as the successor agency to the Former
Agency under AB 26 (“Successor Agency”) and subsequently adopted Resolution No.
2012-SA001 establishing itself as a separate legal entity with rules and regulations
governing the operations of the Successor Agency.
On June 27, 2012, the State adopted Assembly Bill No. 1484 (“AB 1484” and together
with AB 26 referred to herein as the “Dissolution Act”) making technical and substantive
amendments and imposing additional statutory provisions relating to the activities and
obligations of successor agencies and to the wind down process of former
redevelopment agencies.
Pursuant to Health and Safety Code Section 34191.5(a) of the Dissolution Act, once the
California Department of Finance (“DOF”) issues a Finding of Completion to the
Successor Agency the Successor Agency shall prepare a Long Range Property
Management Plan that addresses the disposition and use of certain real properties of
the Former Agency. Upon the issuance of the Finding of Completion to the Successor
Agency, a Community Redevelopment Property Trust Fund (“Trust”) will be established
to serve as the repository of the Former Agency’s non-housing real properties identified
in the Due Diligence Review (“Non-Housing DDR”) in accordance with Health and
Safety Code Section 34179.5(c)(5)(C) and Procedure 7 of the DOF Guidelines for
preparation of the Non-Housing DDR). The Trust shall be administered by the
Successor Agency.
Pursuant to Health and Safety Code Section 34191.4(a) of the Dissolution Act, upon the
approval of the Plan by the DOF, all real property and interests in real property identified
in the Non-Housing DDR shall be transferred to the Trust, unless such a property is
subject to the requirements of any existing enforceable obligation.
Health and Safety Code Section 34191.5(c) of the Dissolution Act further requires that
the Plan (1) include an inventory of all properties in the Trust, which inventory shall
consist of specific information relating to each such property including, without limitation,
the date of and purpose for acquisition, value of property, applicable zoning, any
property revenues and contractual requirements for disposition of same, history of
environmental issues and any related studies and remediation efforts, potential for
transit-oriented development and advancement of planning objectives of the Successor
Agency, and history of previous development proposals and activity; and (2) address
the use or disposition of all properties in the Trust, including the retention of such
property for governmental use pursuant to Health and Safety Code Section 34181(a) of
17Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
the Dissolution Act, the retention of such property for future development, the sale of
such property, or the use of such property to fulfill an enforceable obligation.
Accordingly, this proposed Plan includes thirty-eight (38) real properties (“Properties”)
that were identified or fit within the criteria for inclusion in the Non-Housing DDR
pursuant to statutory criteria of the Dissolution Act and in accordance with DOF
Guidelines. The Properties are described in detail in this Plan under four (4) separate
categories: (i) Properties to be retained for governmental use; (ii) Properties to be
retained for future development; (iii) Properties to be sold; and (iv) Properties to be used
to fulfill enforceable obligations. Notably, this Plan identifies certain Properties where
the DOF previously approved certain project related costs or agreements as
“enforceable obligations” within the meaning of Dissolution Act. Thus, certain
Properties could fall within the category of property to be sold or property to be used to
fulfill enforceable obligations. Those situations and the proposed disposition or use of
the Property is identified in this Plan. Additionally, this Plan includes all of the
information for each of the Properties required by Health and Safety Code Section
34191.5(c) of the Dissolution Act.
18Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
19Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
20Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
21Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
22Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
23Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
24Item Property Assessor's
Parcel No.
Date of
Acquisition
Value at
Acquisition¹
Value
Current (est)
Purpose of
Acquisition
Lot size Zoning Use
Restricti
ons²
Apprai
sed?
Enforcea
ble
Obligatio
n?³
DOF
Confir
med
EO?
Gross
Revenue
Generated 4
Net
Revenue 5
Revenue
Disposition
TOD Intended
Disposition
Environmental
contamination or
remediation
1. Ince Parking Structure:
9099 Washington Boulevard.
4206-029-932. Purchased
and
assembled
from 1979
through
1985.
$3,650,000 $0 Public parking
- 801 spaces
on 5 levels.
51,640 s.f.
(1.19 ac.)
Public
Parking
Facility
(PPF).
Financin
g
method 6;
Zoning
Code 7;
Contract
ual
obligatio
ns 8.
No Yes No $471,644 $0 $487,862
O&M;
$216,460
Deferred
maintenance ?;
$280,350
Sinking
fund¹ °.
No Governmental
Purpose -
Successor
Agency to transfer
property to
Parking Authority.
Closure letter issued by
the LA County Dept. of
Public Works in 1996
for remediation of
contamination from
clarifier and injection
well.
2. Cardiff Parking Structure:
3846 Cardiff Avenue.
4206-028-900,
4206-028-901.
4206-028-
900:
05/22/1973;
4206-028-
901:
05/22/1973.
4206-028-
900:
$127,750;
4206-028-
901: $36,600;
Total
$164,350.
$0 Public parking
- 397 spaces
on 4 levels.
36,417 s.f.
(0.84 ac.)
Public
Parking
Facility
(PPF).
Financin
g
method 6;
Zoning
Code 7;
Contract
ual
obligatio
ns 8;
Shared
or
encumbe
red
ownershi
p¹¹.
No Yes No $231,862 $0 $184,326
O&M;
$162,790
Deferred
maintenance ?;
$138,950
Sinking
fund¹ °.
No Governmental
Purpose -
Retained by
Parking Authority
(current owner).
No knowledge of
contamination exists as
no studies have been
performed.
3. Watseka Parking Structure:
3844 Watseka Avenue,
3848 Watseka Avenue,
3864 Watseka Avenue.
4207-001-900,
4207-001-901,
4207-001-902,
4207-001-903,
4207-001-904.
4207-001-
900:
05/11/1984;
4207-001-
901:
03/14/1986;
4207-001-
902:
03/14/1986;
4207-001-
903:
03/22/1989;
4207-001-
904:
02/14/1997.
4207-001-
900, 4207-
001-901,
4207-001-
902, 4207-
001-903:
$297,138;
4207-001-
904: $78,894.
Total:
$376,032.
$0 Public parking
- 330 spaces
on 5 levels.
22,478 s.f.
(0.52 ac.)
Public
Parking
Facility
(PPF).
Financin
g
method 6;
Zoning
Code 7;
Contract
ual
obligatio
ns 8.
No Yes No $388,562 $0 $162,390
O&M;
$106,915
Deferred
maintenance ?;
$115,500
Sinking
fund¹ °.
No Governmental
Purpose -
Successor
Agency to transfer
property to
Parking Authority.
No knowledge of
contamination exists as
no studies have been
performed.
I. Properties to be Retained For Governmental Use
Long Range Property Management Plan Summary - Culver City
25Item Property Assessor's
Parcel No.
Date of
Acquisition
Value at
Acquisition¹
Value
Current (est)
Purpose of
Acquisition
Lot size Zoning Use
Restricti
ons²
Apprai
sed?
Enforcea
ble
Obligatio
n?³
DOF
Confir
med
EO?
Gross
Revenue
Generated 4
Net
Revenue 5
Revenue
Disposition
TOD Intended
Disposition
Environmental
contamination or
remediation
4. Virginia Parking Lot:
10401 Virginia Avenue,
10555 Virginia Avenue,
10601 Virginia Avenue.
4209-027-905,
4209-029-900,
4209-029-923,
4209-029-924,
4209-029-925.
4209-027-
905:
8/5/1980;
4209-029-
900:
04/16/1982;
4209-029-
923:
02/25/1981;
4209-029-
924:
01/06/1981;
4209-029-
925:
09/29/1978.
4209-027-
905: $0;
4209-029-
900: $0;
4209-029-
923: $0;
4209-029-
924: $0;
4209-029-
925:
$535,657.
$0 Public parking
- 136 spaces
on surface
lot.
50,038 s.f.
(1.15 ac.)
Public
Parking
Facility
(PPF).
Zoning
Code 7;
Contract
ual
obligatio
ns 8.
No Yes No $160,560 $0 $53,680 O&M;
$64,600
Deferred
maintenance ?;
$47,600
Sinking
fund¹ °.
No Governmental
Purpose -
Successor
Agency to transfer
property to
Parking Authority.
No knowledge of
contamination exists as
no studies have been
performed.
5. Venice Parking Lot:
9415Venice Boulevard,
9425 Venice Boulevard.
4313-019-900,
4313-019-901,
4313-019-902,
4313-019-903.
4313-019-
900:
10/01/1997;
4313-019-
901:
10/01/1997;
4313-019-
902:
10/01/1997;
4313-019-
903:
10/01/1997.
$551,900 $0 Public parking
- 30 spaces
on surface
lot.
12,500 s.f.
(0.29 ac.)
In City of
Los
Angeles
C2-1.
Zoning
Code 7.
No Yes No $14,400 $0 $1,960 O&M;
$20,000
Deferred
maintenance ?;
$10,500
Sinking fund¹°.
No Governmental
Purpose -
Successor
Agency to transfer
property to
Parking Authority.
2006 Phase 1 report
recommended a Phase
2, which has yet to be
performed.
6. Robertson Parking Lot #1:
3713 Robertson Boulevard,
3715 Robertson Boulevard.
4206-033-917,
4206-033-936.
4206-033-
917:
12/07/1981;
4206-033-
936:
12/07/1981.
$69,600 $0 Public parking
- 8 metered
spaces on
surface lot.
3,375 s.f.
(0.08 ac.)
Public
Parking
Facility
(PPF).
Zoning
Code 7.
No Yes No $4,175 $0 $3,744 O&M;
$8,364
Deferred
maintenance ?;
$2,800
Sinking fund¹°.
No Governmental
Purpose -
Successor
Agency to transfer
property to
Parking Authority.
No knowledge of
contamination exists as
no studies have been
performed.
7. Robertson Parking Lot #2:
3727 Robertson Boulevard
Adjacent.
4206-033-925. 05/28/1982. Included in
3757
Robertson
sale (below).
$0 Public parking
- 3 spaces on
surface lot.
1,020 s.f.
0.02 ac.)
Public
Parking
Facility
(PPF).
Zoning
Code 7.
No Yes No $1,566 $0 $978 O&M;
$3,136
Deferred
maintenance ?;
$1,050
Sinking fund¹°.
No Governmental
Purpose -
Successor
Agency to transfer
property to
Parking Authority.
No knowledge of
contamination exists as
no studies have been
performed.
26Item Property Assessor's
Parcel No.
Date of
Acquisition
Value at
Acquisition¹
Value
Current (est)
Purpose of
Acquisition
Lot size Zoning Use
Restricti
ons²
Apprai
sed?
Enforcea
ble
Obligatio
n?³
DOF
Confir
med
EO?
Gross
Revenue
Generated 4
Net
Revenue 5
Revenue
Disposition
TOD Intended
Disposition
Environmental
contamination or
remediation
8. Robertson Parking Lot #3:
3757 Robertson Boulevard.
4206-033-932,
4206-033-934,
4206-033-935.
4206-033-
932:
05/28/1982;
4206-033-
934:
05/28/1982;
4206-033-
935:
05/28/1982.
$414,268 $0 Public parking
- 32 spaces
on surface
lot.
7,622 s.f.
(0.18 ac.)
Public
Parking
Facility
(PPF).
Zoning
Code 7;
Contract
ual
obligatio
ns 8;
Shared
or
encumbe
red
ownershi
p¹¹.
No Yes No $16,700 $0 $978 O&M;
$18,050
Deferred
maintenance ?;
$11,200
Sinking fund¹°.
No Governmental
Purpose -
Successor
Agency to transfer
property to
Parking Authority.
No knowledge of
contamination exists as
no studies have been
performed.
9. Washington Parking Lot:
12601 Washington Boulevard.
4231-019-901. 10/01/2010. $625,000 $0 Public parking
- 15 spaces
on surface
lot.
5,998 s.f.
(0.14 ac.)
Public
Parking
Facility
(PPF).
Zoning
Code 7;
Contract
ual
obligatio
ns 8.
No Yes No $600 $0 $1,200 O&M;
$5,250
Sinking fund¹°.
No Governmental
Purpose -
Successor
Agency to transfer
property to
Parking Authority.
2004 Phase I study
concluded that no
contamination exists.
10. Canfield Parking Lot:
3825 Canfield Avenue.
4206-030-901. 05/22/1973. $40,725 $0 Public parking
- 28 spaces
on surface
lot.
7,500 s.f.
(0.17 ac.)
Public
Parking
Facility
(PPF).
Zoning
Code 7;
Contract
ual
obligatio
ns 8.
No Yes No $13,080 $0 $5,292 O&M;
$13,300
Deferred
maintenance ?;
$9,800
Sinking fund¹°.
No Governmental
Purpose -
Successor
Agency to transfer
property to
Parking Authority.
No knowledge of
contamination exists as
no studies have been
performed.
11. Town Plaza Expansion Project:
(Parcel B). ?
4206-029-935. Assembled
1981
through
1989.
$0
(Public Right
of Way)
$0 Town Plaza
expansion
and
subterranean
parking
structure.
39,675 s.f.
(0.91 ac.)
Public
Parking
Facility
(PPF).
Public
right-of-
way;
Easeme
nt.
No Yes No $27,450
temporary
seasonal
rentals
$23,702
excluding
staff costs
$3,749 O&M. No Governmental
Purpose -
Successor
Agency to transfer
property to City.
No knowledge of
contamination exists as
no studies have been
performed.
27Item Property Assessor's
Parcel No.
Date of
Acquisition
Value at
Acquisition¹
Value
Current (est)
Purpose of
Acquisition
Lot size Zoning Use
Restricti
ons²
Apprai
sed?
Enforcea
ble
Obligatio
n?³
DOF
Confir
med
EO?
Gross
Revenue
Generated 4
Net
Revenue 5
Revenue
Disposition
TOD Intended
Disposition
Environmental
contamination or
remediation
12. Washington-Centinela /
Regency Project:
12403 Washington Boulevard,
12413 Washington Boulevard,
12421 Washington Boulevard,
12423 Washington Boulevard,
4061 Centinela Avenue,
4063 Centinela Avenue,
(Site A). n ¹²
4231-002-901,
4231-002-902,
4231-002-903,
4231-002-904,
4231-002-905,
4231-002-906,
4231-002-907,
4231-002-909.
4231-002-
901:
03/09/2006;
4231-002-
902:
03/09/2006;
4231-002-
903:
03/09/2006;
4231-002-
904:
03/09/2006;
4231-002-
905:
03/09/2006;
4231-002-
906:
03/09/2006;
4231-002-
907:
03/09/2006;
4231-002-
908:
03/09/2006;
4231-002-
909:
03/09/2006.
$4,873,975 $2,155,426 Blight
elimination /
Washington-
Centinela
project.
38,974 s.f.
(0.89 ac.)
Public
Parking
Facility
(PPF).
Zoned
exclusive
ly for
parking 7;
Public
right-of-
way
easemen
t; Utility
easemen
t.
Yes Yes No $25,501
temporary
seasonal
rental (tree
lot).
$23,059
excluding
staff costs
$2,442 O&M. No Governmental
Purpose -
Successor
Agency to transfer
a portion of the
property to
Parking Authority
for parking use
upon development
of Project¹³ and
sell a portion of
the property to
Developer (see
Item 17, below).
2006 Phase Two study
concluded that no
contamination exists.
28Item Property Assessor's
Parcel No.
Date of
Acquisition
Value at
Acquisition¹
Value
Current (est)
Purpose of
Acquisition
Lot size Zoning Use
Restricti
ons²
Apprai
sed?
Enforcea
ble
Obligatio
n?³
DOF
Confir
med
EO?
Gross
Revenue
Generated 4
Net
Revenue 5
Revenue
Disposition
TOD Intended
Disposition
Environmental
contamination or
remediation
13. Washington-Centinela /
Regency Project:
4064 Colonial Avenue
(Site A). n ¹²
4231-002-900,
4231-002-908.
4231-002-
900:
04/21/2006;
4231-002-
908:
04/21/2006.
$1,204,949 $459,578 Blight
elimination /
Washington-
Centinela
project.
8,310 s.f.
(0.19 ac.)
Public
Parking
Facility
(PPF).
Zoned
exclusive
ly for
parking 7;
Public
right-of-
way
easemen
t; Utility
easemen
t.
Yes Yes No $0 $0 $543 O&M. No Governmental
Purpose -
Successor
Agency to transfer
a portion of the
property to
Parking Authority
for parking use
upon development
of Project¹³ and
sell a portion of
the property to
Developer (see
Item 18, below).
No knowledge of
contamination exists as
no studies have been
performed.
14. La Ballona Creek Parcel One. 4205-005-908. 12/07/2004. $108 $0 Ballona Creek
access /
Landscape
buffer.
1,800 s.f.
0.04 ac.)
Open
Space
(OS).
Undevel
opable
due to
size,
shape,
slope
and
zoning.
No Yes No $0 $0 $0 No Governmental
Purpose -
Successor
Agency to transfer
property to City;
flood control
channel and/or
access.
No knowledge of
contamination exists as
no studies have been
performed.
15. La Ballona Creek Parcel Two. 4209-030-901,
4209-030-902.
4209-030-
901:
06/14/1978;
4209-030-
902:
07/26/1977.
$672,474 $0 Ballona Creek
access /
Landscape
buffer.
92,783 s.f.
(2.13 ac.)
Open
Space
(OS).
Undevel
opable
due to
location,
grande
and
zoning.
No Yes No $0 $0 $0 No Governmental
Purpose -
Successor
Agency to transfer
property to City;
flood control
channel and/or
access.
No knowledge of
contamination exists as
no studies have been
performed.
29Item Property Assessor's
Parcel No.
Date of
Acquisition
Value at
Acquisition¹
Value
Current (est)
Purpose of
Acquisition
Lot size Zoning Use
Restricti
ons²
Apprai
sed?
Enforcea
ble
Obligatio
n?³
DOF
Confir
med
EO?
Gross
Revenue
Generated 4
Net
Revenue 5
Revenue
Disposition
TOD Intended
Disposition
Environmental
contamination or
remediation
16. Jazz Bakery Project:
9814 Washington Boulevard.
4207-006-915. 11/29/1995. $281,865 $0 Blight
elimination /
Create
commercial
opportunity.
6,590 s.f.
(0.15 ac.)
Commer
cial
Downtow
n (CD).
Encumb
ered by
2001
DDA;
2003
License
Agreeme
nt; 2010
Agreeme
nt.
Yes Yes No $0 $0 $0 No Successor
Agency to sell
property to
developerfor
development
pursuant to 2001
DDA and 2010
Agreement.
No knowledge of
contamination exists as
no studies have been
performed.
Item Property Assessor's
Parcel No.
Date of
Acquisition
Value at
Acquisition¹
Value
Current (est)
Purpose of
Acquisition
Lot size Zoning Use
Restricti
ons²
Apprai
sed?
Enforcea
ble
Obligatio
n?³
DOF
Confir
med
EO?
Gross
Revenue
Generated 4
Net
Revenue 5
Revenue
Disposition
TOD Intended
Disposition
Environmental
contamination or
remediation
17. Washington-Centinela /
Regency Project:
12403 Washington Boulevard,
12413 Washington Boulevard,
12421 Washington Boulevard,
12423 Washington Boulevard,
4061 Centinela Avenue,
4063 Centinela Avenue,
(Site A). n ¹²
4231-002-901,
4231-002-902,
4231-002-903,
4231-002-904,
4231-002-905,
4231-002-906,
4231-002-907,
4231-002-909.
4231-002-
901:
03/09/2006;
4231-002-
902:
03/09/2006;
4231-002-
903:
03/09/2006;
4231-002-
904:
03/09/2006;
4231-002-
905:
03/09/2006;
4231-002-
906:
03/09/2006;
4231-002-
907:
03/09/2006;
4231-002-
908:
03/09/2006;
4231-002-
909:
03/09/2006.
$4,873,975 $2,155,426 Blight
elimination /
Washington-
Centinela
project.
38,974 s.f.
(0.89 ac.)
Public
Parking
Facility
(PPF).
Zoned
exclusive
ly for
parking 7;
Public
right-of-
way
easemen
t; Utility
easemen
t.
Yes Yes No $25,501
temporary
seasonal
rental (tree
lot).
$23,059
excluding
staff costs
$2,442 O&M. No Successor
Agency to sell a
portion of the
property to
Developer and
transfer a portion
of the property to
Parking Authority
for parking use
upon development
of Project¹³ (see
Item No. 12,
above).
2006 Phase Two study
concluded that no
contamination exists.
III. Properties to be Sold
II. Properties to be Retained for Future Development
30Item Property Assessor's
Parcel No.
Date of
Acquisition
Value at
Acquisition¹
Value
Current (est)
Purpose of
Acquisition
Lot size Zoning Use
Restricti
ons²
Apprai
sed?
Enforcea
ble
Obligatio
n?³
DOF
Confir
med
EO?
Gross
Revenue
Generated 4
Net
Revenue 5
Revenue
Disposition
TOD Intended
Disposition
Environmental
contamination or
remediation
18. Washington-Centinela /
Regency Project:
4064 Colonial Avenue
(Site A). n ¹²
4231-002-900,
4231-002-908.
4231-002-
900:
04/21/2006;
4231-002-
908:
04/21/2006.
$1,204,949 $459,578 Blight
elimination /
Washington-
Centinela
project.
8,310 s.f.
(0.19 ac.)
Public
Parking
Facility
(PPF).
Zoned
exclusive
ly for
parking 7;
Public
right-of-
way
easemen
t; Utility
easemen
t.
Yes Yes No $0 $0 $543 O&M. No Successor
Agency to sell a
portion of the
property to
Developer and
transfer a portion
of the property to
Parking Authority
for parking use
upon development
of Project¹³ (see
Item No. 13,
above).
No knowledge of
contamination exists as
no studies have been
performed.
19. Washington-Centinela /
Regency Project:
12337 Washington Boulevard
(Site B). n
4232-009-900. 05/10/2006. $638,800 $326,585 Blight
elimination /
Washington-
Centinela
project.
3,267 s.f.
(0.08 ac.)
Commer
cial
General
(CG).
Develop
ment
restrictio
ns; Utility
easemen
t.
Yes Yes No $0 $0 $226 O&M. No Successor
Agency to sell
property to
Developer for
development of
Project.
2004 Phase 1 report
concluded that no
contamination exists.
20. Washington-Centinela /
Regency Project:
12343 Washington Boulevard
(Site B). n
4232-009-901. 04/25/2006. $2,232,719 $1,653,416 Blight
elimination /
Washington-
Centinela
project.
16,540 s.f.
(0.38 ac.)
Commer
cial
General
(CG).
Develop
ment
restrictio
ns; Utility
easemen
t.
Yes Yes No $0 $0 $1,040 O&M. No Successor
Agency to sell
property to
Developer for
development of
Project.
Closure letter issued by
the LA-RWQCB in
2010 for successful
remedation of
contaminated ground
water.
21. Washington-National / Lowe
Project:
8829 Exposition Boulevard. l
4312-014-913. 09/08/2006. $610,000 $20,650 Blight
Elimination /
Transit-
Oriented-
Development
project.
2,500 s.f.
(0.06 ac.)
Planned
Develop
ment
(PD).
Method
of
Financin
g 6;
Remedia
tion
required;
Contract
ual
Encumbr
ance¹4;
Zoning
restrictio
ns ¹5.
Yes Yes No $0 $0 $0 Yes Successor
Agency to sell
property to
Developer for
TOD project
development.
2007 Phase 2 report
concluded that
asbestos was present
in the soil.
31Item Property Assessor's
Parcel No.
Date of
Acquisition
Value at
Acquisition¹
Value
Current (est)
Purpose of
Acquisition
Lot size Zoning Use
Restricti
ons²
Apprai
sed?
Enforcea
ble
Obligatio
n?³
DOF
Confir
med
EO?
Gross
Revenue
Generated 4
Net
Revenue 5
Revenue
Disposition
TOD Intended
Disposition
Environmental
contamination or
remediation
22. Washington-National / Lowe
Project:
8831 Exposition Boulevard. l
4312-014-911. 08/29/2006. $3,034,966 $61,950 Blight
Elimination /
Transit-
Oriented-
Development
project.
7,500 s.f.
(0.17 ac.)
Planned
Develop
ment
(PD).
Contract
ual
Encumbr
ance¹ 4;
Zoning
restrictio
ns¹ 5.
Yes Yes No $0 $0 $0 Yes Successor
Agency to sell
property to
Developer for
TOD project
development.
2005 Phase 1 prior to
purchase of property.
No knowledge of
contamination exists
and no further studies
have been performed.
23. Washington-National / Lowe
Project:
8840 National Boulevard. l
4312-014-912. 08/30/2006. $554,657 $20,650 Blight
Elimination /
Transit-
Oriented-
Development
project.
2,500 s.f.
(0.06 ac.)
Planned
Develop
ment
(PD).
Contract
ual
Encumbr
ance¹ 4;
Zoning
restrictio
ns¹ 5.
Yes Yes No $0 $0 $0 Yes Successor
Agency to sell
property to
Developer for
TOD project
development.
2005 Phase 1 prior to
purchase of property.
No knowledge of
contamination exists
and no further studies
have been performed.
24. Washington-National / Lowe
Project:
8841 Exposition Boulevard. l
4312-014-905. 05/16/2006. $1,036,210 $20,617 Blight
Elimination /
Transit-
Oriented-
Development
project.
2,496 s.f.
(0.06 ac.)
Planned
Develop
ment
(PD).
Method
of
Financin
g 6;
Contract
ual
Encumbr
ance¹ 4;
Zoning
restrictio
ns¹ 5.
Yes Yes No $0 $0 $0 Yes Successor
Agency to sell
property to
Developer for
TOD project
development.
2005 Phase 1 prior to
purchase of property.
No knowledge of
contamination exists
and no further studies
have been performed.
25. Washington-National / Lowe
Project:
8843 Exposition Boulevard. l
4312-014-914. 07/14/2008. $525,000 $20,650 Blight
Elimination /
Transit-
Oriented-
Development
project.
2,500 s.f.
(0.06 ac.)
Planned
Develop
ment
(PD).
Method
of
Financin
g 6;
Contract
ual
Encumbr
ance¹ 4;
Zoning
restrictio
ns¹ 5.
Yes Yes No $0 $0 $0 Yes Successor
Agency to sell
property to
Developer for
TOD project
development.
2005 Phase 1 prior to
purchase of property.
No knowledge of
contamination exists
and no further studies
have been performed.
32Item Property Assessor's
Parcel No.
Date of
Acquisition
Value at
Acquisition¹
Value
Current (est)
Purpose of
Acquisition
Lot size Zoning Use
Restricti
ons²
Apprai
sed?
Enforcea
ble
Obligatio
n?³
DOF
Confir
med
EO?
Gross
Revenue
Generated 4
Net
Revenue 5
Revenue
Disposition
TOD Intended
Disposition
Environmental
contamination or
remediation
26. Washington-National / Lowe
Project:
8824 National Boulevard,
8825 National Boulevard, 8828
National Boulevard, 8801
Washington Boulevard, 8803
Washington Boulevard. l
4312-014-915,
4312-014-916,
4312-014-917,
4312-014-918,
4312-014-919.
4312-014-
915:
07/14/2008;
4312-014-
916:
07/14/2008;
4312-014-
917:
07/14/2008;
4312-014-
918:
07/14/2008;
4312-014-
919:
07/14/2008.
$5,579,450 $200,627 Blight
Elimination /
Transit-
Oriented-
Development
project.
24,289 s.f.
(0.56 ac.)
Planned
Develop
ment
(PD).
Remedia
tion
required;
Contract
ual
Encumbr
ance¹ 4;
Zoning
restrictio
ns¹ 5.
Yes Yes No $0 $0 $0 Yes Successor
Agency to sell
property to
Developer for
TOD project
development.
Active remedation of
groundwater
contamination currently
underway at 8801
Washington Boulevard.
27. Washington-National / Lowe
Project:
8830-8834 National Boulevard.
l
4312-014-910 08/15/2006. $2,028,633 $100,780 Blight
Elimination /
Transit-
Oriented-
Development
project.
12,201 s.f.
(0.28 ac.)
Planned
Develop
ment
(PD).
Contract
ual
Encumbr
ance¹ 4;
Zoning
restrictio
ns¹ 5.
Yes Yes No $0 $0 $0 Yes Successor
Agency to sell
property to
Developer for
TOD project
development.
2005 Phase 1 prior to
purchase of property.
No knowledge of
contamination exists
and no further studies
have been performed.
28. Washington-National / Lowe
Project:
8836 National Boulevard, 8838
National Boulevard. l
4312-014-907,
4312-014-908.
4312-014-
907:
07/14/2006;
4312-014-
908:
07/14/2006.
$1,200,000 $41,300 Blight
Elimination /
Transit-
Oriented-
Development
project.
5,000 s.f.
(0.11 ac.)
Planned
Develop
ment
(PD).
Contract
ual
Encumbr
ance¹ 4;
Zoning
restrictio
ns¹ 5.
Yes Yes No $0 $0 $0 Yes Successor
Agency to sell
property to
Developer for
TOD project
development.
2005 Phase 1 prior to
purchase of property.
No knowledge of
contamination exists
and no further studies
have been performed.
29. Washington-National / Lowe
Project:
8839 Exposition Boulevard. l
4312-014-909. 07/21/2006. $625,450 $20,650 Blight
Elimination /
Transit-
Oriented-
Development
project.
2,500 s.f.
(0.06 ac.)
Planned
Develop
ment
(PD).
Contract
ual
Encumbr
ance¹ 4;
Zoning
restrictio
ns¹ 5.
Yes Yes No $0 $0 $0 Yes Successor
Agency to sell
property to
Developer for
TOD project
development.
2005 Phase 1 prior to
purchase of property.
No knowledge of
contamination exists
and no further studies
have been performed.
33Item Property Assessor's
Parcel No.
Date of
Acquisition
Value at
Acquisition¹
Value
Current (est)
Purpose of
Acquisition
Lot size Zoning Use
Restricti
ons²
Apprai
sed?
Enforcea
ble
Obligatio
n?³
DOF
Confir
med
EO?
Gross
Revenue
Generated 4
Net
Revenue 5
Revenue
Disposition
TOD Intended
Disposition
Environmental
contamination or
remediation
30. Washington-National / Lowe
Project:
8842 National Boulevard. l
4312-014-906. 06/21/2006. $550,000 $20,617 Blight
Elimination /
Transit-
Oriented-
Development
project.
2,496 s.f.
(0.06 ac.)
Planned
Develop
ment
(PD).
Method
of
Financin
g 6;
Contract
ual
Encumbr
ance¹ 4;
Zoning
restrictio
ns¹ 5.
Yes Yes No $0 $0 $0 Yes Successor
Agency to sell
property to
Developer for
TOD project
development.
2005 Phase 1 prior to
purchase of property.
No knowledge of
contamination exists
and no further studies
have been performed.
31. Washington-National / Lowe
Project:
8846 National Boulevard. l
4312-014-270,
4312-014-271,
4312-014-900,
4312-014-901,
4312-014-902,
4312-014-903,
4312-014-904.
4312-014-
270, 271:
03/27/2006;
4312-014-
900:
03/27/2006;
4312-014-
901:
03/27/2006;
4312-014-
902:
03/27/2006;
4312-014-
903:
03/27/2006;
4312-014-
904:
03/27/2006.
$4,429,701 $271,300 Blight
Elimination /
Transit-
Oriented-
Development
project.
32,845 s.f.
(0.75 ac.)
Planned
Develop
ment
(PD).
Contract
ual
Encumbr
ance¹ 4;
Zoning
restrictio
ns¹ 5.
Yes Yes No $0 $0 $0 Yes Successor
Agency to sell
property to
Developer for
TOD project
development.
2005 Phase 1 prior to
purchase of property.
No knowledge of
contamination exists
and no further studies
have been performed.
32. Parcel B / Combined-Hudson
Project:
9300 Culver Boulevard. ?
4206-029-934. Assembled
1981
through
1989.
1,728,947 $2,000,000
without
entitlements;
$4,200,000
with
entitlements
Blight
Elimination /
Parcel B
development
project.
50,727 s.f.
(1.16 ac.)
Commer
cial
Downtow
n (CD).
Subject
to
entitleme
nts of
1999,
contractu
al
encumbr
ance.
Yes Yes No $65,000
temporary
seasonal
rentals
$61,251
excluding
staff costs
$3,749 O&M. No Successor
Agency to sell
property to
developer for
development
pursuant to 1999
entitlements.
2008 Phase Two study
revealed lead
contaminated soil,
which is required to be
disposed of properly
during construction.
34Item Property Assessor's
Parcel No.
Date of
Acquisition
Value at
Acquisition¹
Value
Current (est)
Purpose of
Acquisition
Lot size Zoning Use
Restricti
ons²
Apprai
sed?
Enforcea
ble
Obligatio
n?³
DOF
Confir
med
EO?
Gross
Revenue
Generated 4
Net
Revenue 5
Revenue
Disposition
TOD Intended
Disposition
Environmental
contamination or
remediation
33. Wesley Parking Lot:
3433 Wesley Street.
4312-028-901. 07/20/2009. $395,000 $105,000 Parking for
adjacent
commercial
building - 7
spaces on
surface lot.
2,613 s.f.
(0.06 ac.)
Industrial
General
(IG).
Subject
to long-
term
lease.
Yes Yes No $0 $0 $0 No Successor
Agency to sell
property to
adjacent property
owner per
02/14/2011
Purchase and
Sale Agreement.
No knowledge of
contamination exists as
no studies have been
performed.
Item Property Assessor's
Parcel No.
Date of
Acquisition
Value at
Acquisition¹
Value
Current (est)
Purpose of
Acquisition
Lot size Zoning Use
Restricti
ons²
Apprai
sed?
Enforcea
ble
Obligatio
n?³
DOF
Confir
med
EO?
Gross
Revenue
Generated 4
Net
Revenue 5
Revenue
Disposition
TOD Intended
Disposition
Environmental
contamination or
remediation
34. Baldwin Site / Axis-Mundi
Project:
12803 Washington Boulevard.
t
4236-021-902. 12/01/2005. $925,000 $691,480 Blight
elimination /
Baldwin Site
project.
5,772 s.f.
(0.13 ac.)
Commer
cial
General
(CG).
Restricte
d by
DDA.
Yes Yes No $2,000
temporary
seasonal
rental (tree
lot).
$0 $2,991 O&M. No The Successor
Agency intends to
sell this property
to Developer to
fulfill an
enforceable
obligation.
No knowledge of
contamination exists as
no studies have been
performed.
35. Baldwin Site / Axis-Mundi
Project:
12811 Washington Boulevard.
t
4236-021-903. 01/11/2006. $945,000 $598,516 Blight
elimination /
Baldwin Site
project.
4,996 s.f.
(0.11 ac.)
Commer
cial
General
(CG).
Restricte
d by
DDA.
Yes Yes No Included with
12803
Washington
revenue.
$0 Included with
12803
Washington
O&M.
No The Successor
Agency intends to
sell this property
to Developer to
fulfill an
enforceable
obligation.
2004 Phase 1 report
concluded that no
contamination exists.
36. Baldwin Site / Axis-Mundi
Project:
12813 Washington Boulevard.
t
4236-021-900. 03/02/2005. $760,000 $598,516 Blight
elimination /
Baldwin Site
project.
4,996 s.f.
(0.11 ac.)
Commer
cial
General
(CG).
Restricte
d by
DDA.
Yes Yes No Included with
12803
Washington
revenue.
$0 Included with
12803
Washington
O&M.
No The Successor
Agency intends to
sell this property
to Developer to
fulfill an
enforceable
obligation.
2005 Phase 2 report
concluded that no
contamination exists.
37. Baldwin Site / Axis-Mundi
Project:
12823 Washington Boulevard.
t
4236-021-901. 03/01/2005. $960,000 $996,489 Blight
elimination /
Baldwin Site
project.
8,318 s.f.
(0.19 ac.)
Commer
cial
General
(CG).
Restricte
d by
DDA.
Yes Yes No Included with
12803
Washington
revenue.
$0 Included with
12803
Washington
O&M.
No The Successor
Agency intends to
sell this property
to Developer to
fulfill an
enforceable
obligation.
2005 Phase 2 report
concluded that no
contatmination exists.
IV. Properties to be Used to Fulfill Enforceable Obligations
35Item Property Assessor's
Parcel No.
Date of
Acquisition
Value at
Acquisition¹
Value
Current (est)
Purpose of
Acquisition
Lot size Zoning Use
Restricti
ons²
Apprai
sed?
Enforcea
ble
Obligatio
n?³
DOF
Confir
med
EO?
Gross
Revenue
Generated 4
Net
Revenue 5
Revenue
Disposition
TOD Intended
Disposition
Environmental
contamination or
remediation
38. Kirk Douglas Theatre:
9820 Washington Boulevard.
4207-006-914. 05/05/1985. $1,593,771 $1,593,771 Blight
elimination /
Adaptive
reuse project
to redevelop
historic
theater.
14,400 s.f.
(0.33 ac.)
Commer
cial
Downtow
n (CD).
Restricte
d by
2001
DDA and
2003
Lease
Agreeme
nt.
No Yes No $0
(forgivable
loan to
Center
Theatre
Group).
$0 $0 No The Successor
Agency intends to
use this property
to fulfill an
enforceable
obligation.
1994 asbestos removal
project.
39. Ivy Substation Lease:
9070 Venice Boulevard.
4206-034-906. 06/08/1987. $0 $0 Adaptive
reuse
redevelopme
nt project to
create live
theater as
economic
development
engine.
19,578 s.f.
(0.45 ac.)
In City of
Los
Angeles -
OS-1XL.
Restricte
d by
lease
with City
of Los
Angeles.
No Yes No $1 (sub-
lease to The
Actors' Gang
through
06/30/2016).
$0 $1 O&M. No The Successor
Agency intends to
use this property
to fulfill an
enforceable
obligation.
No knowledge of
contamination exists as
no studies have been
performed.
40. Media Park Lease:
9254 Venice Boulevard.
4206-030-902
portion of 4206-
034-906.
4206-030-
902:
06/12/1987;
4236-034-
906:
06/12/1987.
$0 $0 Provide public
open space
and leisure
and
recreational
activties
location.
47,207 s.f.
(1.08 ac.)
In City of
Los
Angeles -
part OS-
1XL and
part C2-
1.
Restricte
d by
lease
with City
of Los
Angeles.
No Yes No $0 $0 $0 No The Successor
Agency intends to
use this property
to fulfill an
enforceable
obligation.
No knowledge of
contamination exists as
no studies have been
performed.
?
n
l
t
= Washington-National / Lowe Project
= Baldwin Site / Axis-Mundi Project
= Town Plaza / Combined-Hudson Project
= Washington-Centinela / Regency Project
36Notes:
10. Sinking fund to be established to repair or replace structure or lot and equipment upon obsolescence by allocating $1 per square foot to a capital reserve fund which must be funded by parking structure revenue.
11. Property ownership is shared with a third party or encumbered by use covenant with third party.
12. Current configuration of the lots does not reflect proposed land division separating the City Parcel, which will be retain, from the Developer Parcel, which will be sold. Therefore, this Property is listed under two disposition categories.
4. Annual revenue Fiscal Year 2011-2012. Includes all revenue from operations, leases and rents.
2. Use Resrictions include, but are not limited to, contractual encumberances, Zoning Code requirements, development restrictions, and restrictions required by bond financing.
15. Planned Development zoning requires non-fronting, on-site parking and approximately 1/3 acre of centralized, contiguous open space.
13. Zoning Code requires on-site parking for new development unless developed as Regency project. The City will not rezone the property for any alternate use.
14. Long-term Parking License and Option and Perpetual Easement Agreement with LACMTA requires provision of 600 at-grade parking spaces, preventing any feasible alternate development on site.
9. Deferred maintenance costs for previously planned maintenance and repairs to be funded with parking revenue. Line item details listed in individual Property Summaries.
8. Contractual obligations for use of parking.
1. "Value at Acquisition" represents purchase price at time of acquisition. Excludes cost for demolition, tenant relocation, environmental remediation and other costs associated with land assembly.
6. Construction and/or purchase financed with tax-exempt bonds; Bond finance law requires that total cash flow over life of bond cannot exceed five percent of total bond amount.
7. Zoning Code restricts use to public parking.
5. Net Revenue equals Gross Revenue less Revenue Disposition. Allocation from Gross Revenue includes Operations and Maintenance and staff costs except where noted.
3. Enforceable obligations are detailed in Narrative and Property Summary pages.
37Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Public Parking Facilities
This narrative pertains to separate groups of parcels (the “Parking Parcels”), as more
particularly described below, that are included and analyzed in the Long Range
Property Management Plan (the “Plan”) as “Properties to be Retained for Governmental
Use”. Additionally, the Parking Parcels may be analyzed in the Plan as “Properties to
be used to Fulfill Enforceable Obligations”, since each of the Parking Parcels are the
subject of enforceable obligations (as discussed below), zoning restrictions, tax code
restrictions and entitlements requiring the use of the Parking Parcels for public parking.
As the Parking Parcels are being used for the governmental use of providing affordable
public parking accessible to members of the public, the Parking Parcels are proposed to
be conveyed to the Culver City Parking Authority (the “Parking Authority”) as the
appropriate entity for their possession and administration to ensure their continued
ownership. The Parking Authority has operated since November 1, 1965, and was
responsible for acquiring land for development of the Cardiff parking structure using
assessments on local merchants and a City contribution, and owns the Cardiff parking
structure, as described later in this Plan.
The Parking Parcels are essential for and support businesses in the City of Culver City’s
(the “City”) downtown area and other City business districts, and are essentially the only
publicly available parking serving all of the commercial and cultural activities in the area.
Thus, the Parking Parcels serve a very public “governmental use” in keeping the City’s
downtown and adjacent area economically viable.
In addition, many of the Parking Parcels were acquired, assembled, and constructed by
the former Redevelopment Agency with tax-exempt bonds and which, pursuant to
federal tax code, necessitates revenue neutrality related to price of parking and net
revenue generated. In addition, the use of tax-exempt bonds represents a binding
obligation under state and federal tax law and the underlying bond indenture contracts
with the bondholders to maintain such Parking Parcels as publicly-owned governmental
purpose assets - assets which must remain available to the general public and cannot
be sold to private entities for use in connection with a for-profit development or parking
use for private (non-public) preferential basis.
Further, enforceable obligations (as discussed below), zoning restrictions, tax code
restrictions and entitlements requiring the use of the Parking Parcels for public parking
severely limit the value of the Parking Parcels. The property values of the Parking
Parcels as parking assets are also severely constrained by capital costs, deferred
maintenance, and on-going operation and maintenance costs.
The Parking Parcels include both the “Parking Structures” and the “Parking Lots”, both
of which are described in this narrative.
The following properties, including the improvements thereon, are collectively defined
as the “Parking Structures”:
38Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
1. 3846 Cardiff Ave. (Cardiff Parking Structure) APN 4206-028-900,
4206-028-901.
2. 9099 Washington Blvd. (Ince Parking Structure) APN 4206-029-932.
3. 3844 Watseka Ave.,
3848 Watseka Ave.,
3864 Watseka Ave. (Watseka Parking Structure) APN 4207-001-900,
4207-001-901,
4207-001-902,
4207-001-903,
4207-001-904.
The following properties, including any improvements thereon, are collectively defined
as the “Parking Lots”:
4. 10401 Virginia Ave.,
10555 Virginia Ave.,
10601 Virginia Ave. (Virginia Parking Lot) APN 4209-027-905,
4209-029-900,
4209-029-923,
4209-029-924,
4209-029-925.
5. 9415 Venice Blvd.,
9425 Venice Blvd. (Venice Parking Lot) APN 4313-019-900,
4313-019-901,
4313-019-902,
4313-019-903.
6. 3713 Robertson Blvd.,
3715 Robertson Blvd. (Robertson Parking Lot #1) APN 4206-033-917,
4206-033-936.
7. 3727 Robertson Blvd. (Robertson Parking Lot #2) APN 4206-033-925.
8. 3757 Robertson Blvd. (Robertson Parking Lot #3) APN 4206-033-932.
9. 12601 Washington Blvd. (Washington Parking Lot) APN 4231-019-901.
10. 3825 Canfield Ave. (Canfield Parking Lot) APN 4206-030-901.
39Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Summary of Property Ownership, Agreements and Entitlements
Except for the Cardiff Parking Structure, which was formerly owned by the former
Redevelopment Agency and then transferred to the former Redevelopment Agency and
subsequently conveyed back to the Parking Authority, the Successor Agency to the
Culver City Redevelopment Agency (the “Successor Agency”) owns the Parking Parcels
shown on the attached map (Attachment No. 1). It should be noted that, except for the
Cardiff Parking Structure, the Parking Parcels were transferred from the former
Redevelopment Agency to the City on March 14, 2011 but the transfers were
subsequently rescinded on September 24, 2012 by action of the City Council of the City
and the Successor Agency, as the former Redevelopment Agency’s successor-in-
interest, in accordance with Assembly Bill No. X1 26 and Assembly Bill No. 1484
(collectively referred to as the “Dissolution Act”). As proposed in this Plan, the
Successor Agency intends to convey these governmental use properties to the Culver
City Parking Authority as the appropriate entity for their possession and administration.
The Parking Parcels are subject to agreements, including disposition and development
agreements, license agreements, owner participation agreements and lease
agreements, requiring use of the Parking Parcels for parking to service other
development projects, some of which run with the life of those development projects. In
summary, downtown businesses, including a downtown community hospital, are reliant
upon the availability of publicly owned and operated parking that is affordable and
accessible to members of the public.
Certain costs and agreements related to the Parking Parcels were included on the
Amended and Restated Enforceable Obligations Payment Schedule and were not
objected to by the Department of Finance as listed on: Page 1, Item 11; and Page 10,
Items 1 through 32. The following items were included on the Enforceable Obligations
Payment Schedule and were not objected to by the Department of Finance: Page 1,
Item 12; Page 2, Items 10 and 11; and Page 3, Items 13 and 14. In addition, the
following items were included on the Draft Preliminary Recognized Obligations Payment
Schedule and were not objected to by the Department of Finance: Page 1, Item 12;
Page 2, Items 2, 11 and 27; and Page 3, Items 13 and 14. Therefore, based on these
approvals, the Successor Agency has continued to take steps in furtherance of the
anticipated disposition of the parcels as proposed in the Plan.
A brief ownership history and description of each Parking Parcel is discussed below:
Ince Parking Structure
9099 Washington Boulevard,
APN 4206-029-9320.
The Ince Parking Structure was acquired and assembled by the former Redevelopment
Agency from 1979 through 1985, and constructed by the former Redevelopment
Agency with tax-exempt bonds which will be repaid in 2025 and which, pursuant to
40Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
federal tax code, necessitates revenue neutrality related to price of parking and net
revenue generated. In addition, the use of tax-exempt bonds represents a binding
obligation under state and federal tax law and the underlying bond indenture contracts
with the bondholders, to maintain the Ince Parking Structure as a publicly-owned
governmental purpose asset – an asset which must remain available to the general
public and cannot be sold to private entities for use in connection with a for-profit
development or parking use for private (non-public) preferential basis.
The Ince Parking Structure provides 801 spaces in a five-level above-grade parking
garage with ground-level retail uses.
A summary of parking agreements encumbering the Ince Parking Structure as
previously entered into by the former Redevelopment Agency, and which constitute
“enforceable obligations” pursuant to Sections 34167(d)(5) and 34171(d)(1)(E) of the
Dissolution Act, is as follows:
Name Spaces Terms
Sony 250 For employees. The initial term expires in
November 2012, and may be extended by one
year increments up to November 2015, if both
parties agree.
Culver Hotel 64 Expires in 2026. 20 of those spaces are
reserved for valet use on the first floor ramp
that leads to the second level. 10 spaces are
for employees and 6 spaces are for guests
who self-park. Guest self-parking as-needed
and 10 valet parking spaces at 9300 Culver
Boulevard parking lot. Up to 18 employee
parking spaces at the Venice and Canfield
parking lots.
OliverMcMillan DDA 1,250 Customers of the OliverMcMillan project are
to be collectively provided use of 1,250 parking
spaces downtown comprised of street parking
and the City’s three parking structures,
including Ince, Cardiff and Watseka.
OliverMcMillan DDA 62 Provide up to 62 spaces for employees of
Pacific Theatres and adjacent retail tenants
(Chipotle, Daphne’s, Coldstone Ice Cream).
OliverMcMillan DDA:
Trader Joe’s and K-ZO
20 For Trader Joe’s employees.
60 Sixty 45-minute spaces for Trader Joe’s and K-
ZO Restaurant customers on the first level.
K-ZO 7 7 employee parking spaces for K-ZO until
March 2017, however lease has two five-year
options to extend. K-ZO customers may park
on levels 2 and 3.
Metro 300 During construction of the Washington/National
TOD project, Metro will be provided 300
parking spaces for use by riders of the
Exposition Light Rail station.
41Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Further, the Ince Parking Structure is encumbered with a contract with the Los Angeles
County Metropolitan Transportation Authority (“LACMTA”) to provide parking for the
Expo Transit Station during construction of a nearby Transit Oriented Development, and
is subject to a contract with Sprint PCS to locate communications equipment in or on
the structure effective through 2024 unless terminated by Sprint PCS.
Cardiff Parking Structure
3846 Cardiff Avenue,
APN 4206-028-900,
4206-028-901.
The property upon which the Cardiff Parking Structure sits is comprised of Lots 11
through 18. Lots 11, 12, 13, 14 and 18 are owned by the Culver City Parking Authority,
and Lots 15, 16 and 17 are owned by Bank of America. The Cardiff Parking Structure
provides 397 spaces in a four-level above-grade parking garage and is jointly owned by
Bank of America and the Culver City Parking Authority. By including the Cardiff Parking
Structure in the Plan, the Successor Agency seeks confirmation of the disposition of
said property to the Culver City Parking Authority as the appropriate entity for its
possession and administration.
The history of acquisition, development and use of the Cardiff Parking Structure is
described as follows:
In 1959, the City formed Parking District No. 1 (the “District”), consisting of the
properties on the east side of Cardiff Avenue, bordered by what are now the paseos or
alleys north and south of the Cardiff Parking Structure. The District consists of five lots
which were acquired by the City as follows: Lots 11 & 12 ($46,400), Lots 13 & 14
($81,350), and Lot 18 ($36,600), for a total cost of $164,350. The lot assembly was
partially funded through parcel assessments on local businesses totaling $59,871. The
City contributed a total of $114,934 to fund the remainder of the land acquisition and
incidental costs related to the formation of the District. Therefore, there is an
expectation among the local business owners that the Cardiff parking structure will
remain publicly owned to provide convenient and affordable parking for local businesses
and their patrons.
Lots 15, 16 and 17 were at that time owned by Security First National Bank (now owned
by Bank of America). There were not sufficient funds for the City to buy these lots at the
time of formation of the District.
The City entered into a lease with Security First National Bank on September 22, 1959,
for use of Lots 15, 16 and 17 at the rate of $1 per year. As part of that deal, the City
committed to widen the alley between the Bank and Lot 18 (the southernmost lot within
the District and adjacent to the Bank owned Lots) to a width of 20 feet, to construct a
driveway into the alley and a five-foot wide walkway along the side of the Bank.
42Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
On July 24, 1961, the City authorized and attempted the purchase of the Lots 15, 16
and 17 from the Bank for $55,000. An offer was tendered on August 10, 1961, but the
Bank would sell said Lots only on the condition that the City agreed to allow the Bank to
repurchase the Lots at any time in future, a requirement the City would not accept. On
November 28, 1961, the City executed a lease with the Bank’s real estate arm, Pacific
Southwest Realty Company, for use of Lots 15, 16 and 17 for $200 per month with the
stipulation that the City would pay any property tax imposed on the Lots and all District
assessments imposed against said Lots.
On June 1, 1967, the City executed a month-to-month lease with Pacific Southwest
Realty Company for use of Lots 15, 16 and 17 for $1 per year. On September 14, 1998,
Bank of America entered into a lease agreement with the City to allow the City to build
the Cardiff Parking Structure (the “City/Bank Lease Agreement”). This lease is still in
effect.
Lots 11, 12, 13, 14 and 18 were subsequently conveyed in March 2011 to the former
Redevelopment Agency, which subsequently conveyed said property to the Culver City
Parking Authority as the appropriate entity for its possession and administration.
Construction of the parking structure was funded by the former Redevelopment Agency
using 1985 tax-exempt bond proceeds which, pursuant to federal tax code, necessitates
revenue neutrality related to price of parking and net revenue generated. In addition,
the use of tax-exempt bonds represents a binding obligation under state and federal tax
law and the underlying bond indenture contracts with the bondholders, to maintain the
Property as a publicly-owned governmental purpose asset – an asset which must
remain available to the general public and cannot be sold to private entities for use in
connection with a for-profit development or parking use for private (non-public)
preferential basis.
The City/Bank Lease Agreement encumbers the Cardiff Parking Structure and provides
that no rent is obligated to be paid from the City to Bank of America, requires that 24
parking spaces be made available for use by Bank of America, and obligates the parties
to split in equal proportions any net proceeds from parking fees generated from the
Cardiff Parking Structure. There is no record of any net proceeds generated. Further,
the Los Angeles County Assessor is levying property tax on APN 4206-028-005 (owned
by Bank of America) but not on APN 4206-028-900/901 (owned by the Culver City
Parking Authority).
Contractual encumbrance exists for access to the on-site community trash facility
approved under Permit No. 047904 for the following businesses:
1. Ugo, an Italian Café, 3865 Cardiff Ave.
2. Bank of America, 9453 Culver Blvd.
3. Tender Greens, 9523 Culver Blvd.
4. Ford’s Filling Station, 9531 Culver Blvd.
5. Honey’s Kettle Fried Chicken, 9537 Culver Blvd.
43Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
A summary of parking agreements encumbering the Cardiff Parking Structure is as
follows:
Name No. Spaces Terms
Bank of America 18 For Bank of America employees.
6 30-minute spaces for Bank of America customers on the
ground level for an indefinite term.
Requires City to remit 50% of net proceeds to B of A (if
any).
Watseka Parking Structure
3844 Watseka Avenue,
3848 Watseka Avenue,
3864 Watseka Avenue,
APN 4207-001-900,
4207-001-901,
4207-001-902,
4207-001-903,
4207-001-904.
The Watseka Parking Structure provides 330 parking spaces in a five level above grade
parking garage. The respective parcels for the Watseka Parking Structure were
acquired by the former Redevelopment Agency on May 11, 1984 (900), March 14, 1986
(901 and 902), March 22, 1989 (903), and February 14, 1997 (904). Parcel assembly
and construction of the parking structure were funded with tax increment.
Contractual encumbrance exists for access to the on-site community recycling facility
approved under Permit No. 26713 for the following businesses:
1. Tender Greens, 9523 Culver Blvd.
2. Ford’s Filling Station, 9531 Culver Blvd.
A summary of the parking agreements encumbering the Watseka Parking Structure as
previously entered into by the former Redevelopment Agency, and which constitute
“enforceable obligations” pursuant to Sections 34167(d)(5) and 34171(d)(1)(E) of the
Dissolution Act, is as follows:
Name No. Spaces Terms
Brotman 165 For Brotman employees at standard rates. Term is
indefinite starting in 1992 however, may be terminated by
Agency at any time after the fifth year (which was 1997).
44Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Virginia Parking Lot
10401 Virginia Avenue,
10555 Virginia Avenue,
10601 Virginia Avenue,
APN 4209-027-905,
4209-029-900,
4209-029-923,
4209-029-924,
4209-029-925.
There are 136 parking spaces on the Virginia Parking Lot, a surface lot. The respective
parcels for the Virginia Parking Lot were acquired by the former Redevelopment Agency
on September 29, 1978 (925), August 5, 1980 (905), January 6, 1981 (924), February
25, 1981 (923), and April 16, 1982 (900), using long-term debt tax-exempt bond
proceeds.
A summary of the parking agreements encumbering the Virginia Parking Lot as
previously entered into by the former Redevelopment Agency, and which constitute
“enforceable obligations” pursuant to Sections 34167(d)(5) and 34171(d)(1)(E) of the
Dissolution Act, is as follows:
Name No. Spaces Terms
Sherlind Properties,
LLC Lease, February
25, 1986
67
40-year lease expires in 2026. 36 spaces are provided
at no cost to Sherlind. An additional 31 spaces are
provided on a month-to-month basis at standard rates.
Rotary Plaza – The
Retirement Housing
Foundation DDA,
1998
5 Term is indefinite however, Successor Agency may
terminate with 30-days written notice.
Venice Parking Lot
9415 Venice Boulevard,
9425 Venice Boulevard,
APN 4313-019-900,
4313-019-901,
4313-019-902,
4313-019-903.
There are 30 parking spaces on the Venice Parking Lot, a surface lot in the city of Los
Angeles. The Venice Parking Lot was acquired by the former Redevelopment Agency
on July 14, 1986 using 1985 tax-exempt bond proceeds.
45Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Robertson Parking Lot No. 1
3713 Robertson Boulevard,
3715 Robertson Boulevard,
APN 4206-033-917,
4206-033-936.
There are 8 metered parking spaces on the Robertson Parking Lot No. 1, a surface lot.
The Robertson Parking Lot No. 1 was acquired by the former Redevelopment Agency
on December 7, 1981. Robertson Parking Lot No. 1 was acquired with Series A and B
Tax Allocation Bond Refunding proceeds.
Robertson Parking Lot No. 2
3727 Robertson Boulevard,
APN 4206-033-925.
There are 3 parking spaces on the Robertson Parking Lot No. 2, a surface lot. The
Robertson Parking Lot No. 2 was acquired by the former Redevelopment Agency on
May 28, 1982. Robertson Parking Lot No. 2 was acquired with Series A and B Tax
Allocation Bond Refunding proceeds.
Robertson Parking Lot No. 3
3757 Robertson Boulevard,
APN 4206-033-932,
4206-033-934,
4206-033-935.
There are 32 parking spaces on the Robertson Parking Lot No. 3, a surface lot. The
Robertson Parking Lot No. 3 was acquired by the former Redevelopment Agency on
May 28, 1982. Robertson Parking Lot No. 3 was acquired with Series A and B Tax
Allocation Bond Refunding proceeds.
A summary of the parking agreements encumbering the Robertson Parking Lot No. 3 as
previously entered into by the former Redevelopment Agency, and which constitute
“enforceable obligations” pursuant to Sections 34167(d)(5) and 34171(d)(1)(E) of the
Dissolution Act, is as follows:
Name No. Spaces Terms
Paul Kahn DDA
1999
6 Provides spaces at no charge to Paul Kahn for 20 years as
a condition of the land sale to the Agency. Expires 2019.
46Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Washington Parking Lot
12601 Washington Boulevard,
APN 4231-019-901.
There are 15 parking spaces on the Washington Parking Lot, a surface lot. The
Washington Parking Lot was acquired by the former Redevelopment Agency on
October 1, 2010 using tax-exempt bond proceeds which, pursuant to federal tax code,
necessitates revenue neutrality related to price of parking and net revenue generated.
In addition, the use of tax-exempt bonds represents a binding obligation under state and
federal tax law and the underlying bond indenture contracts with the bondholders, to
maintain the Property as a publicly-owned governmental purpose asset – an asset
which must remain available to the general public and cannot be sold to private entities
for use in connection with a for-profit development or parking use for private (non-
public) preferential basis.
The Property is contractually encumbered by a reciprocal easement agreement (“REA”)
with the adjacent property at 12565 Washington Boulevard. The design of the parking
lot on the Property requires entry and exit to the Property through the adjacent property.
Canfield Parking Lot
3825 Canfield Avenue,
APN 4206-030-901.
There are 28 parking spaces on the Canfield Parking Lot, a surface lot. The Canfield
Parking Lot was acquired by the former Redevelopment Agency on May 22, 1973 with a
cash payment.
Contractual encumbrance exists for access to on-site community trash facility approved
under Permit for the following businesses:
1. Kay ‘n Dave’s, 9341 Culver Blvd.
2. Native Foods Café, 9343 Culver Blvd.
3. Grand Casino Bakery & Cafe, 3826 Main St.
Operations and Maintenance of Parking Parcels
The operation and maintenance cost for the Parking Structures is approximately $546
per stall annually, for a total of $834,578 annually:
? Cardiff Parking Structure: $184,326.
? Ince Parking Structure: $487,862.
? Watseka Parking Structure: $162,390.
47Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
The operation and maintenance cost for the Parking Lots is approximately $269 per stall
annually, for a total of $67,832 annually:
? Virginia Parking Lot: $53,680.
? Venice Parking Lot: $1,960.
? Robertson Parking Lot No. 1: $3,744.
? Robertson Parking Lot No. 2: $978
? Robertson Parking Lot No. 3: $978.
? Washington Parking Lot: $1,200.
? Canfield Parking Lot: $5,292.
Deferred Maintenance of Parking Parcels
The average age of the Parking Structures is 19 years. Consequently, deferred
maintenance is necessary to ensure public safety. The former Redevelopment Agency
had been in the process of identifying and planning substantial deferred maintenance of
the Parking Structures and the Parking Lots, but the elimination of the former
Redevelopment Agency and redevelopment by enactment of the Dissolution Act halted
implementation of this program. The estimated cost of the current deferred
maintenance required for the Parking Parcels is $613,615, as described below.
1. Cardiff Parking Structure:
Paint all interior walls and elevator doors - $25,590
Replace parking control equipment @ $150 per space - $60,000
Replace lighting as necessary @ $6.25 per space - $ 2,500
Restripe entry area to improve ingress/egress - $ 3,000
Repair attendant booth to prevent water intrusion - $ 5,000
Repair crack in structural column - $ 4,000
Repair deterioration of steel stairs in all stairwells - $18,000
Repair bollards near stairwells and nesting area access - $15,000
Repair damage to bathroom caused by rodents - $ 6,500
Replace sealant at around the perimeter of the structure - $12,000
Replace sump pump on lower level - $ 1,500
Install tamper proof hose bibs - $ 1,200
Install security system on upper level - $ 7,000
Install protection for fire sprinkler risers - $ 1,500
Total - $162,790
2. Ince Parking Structure:
Paint all interior walls and elevator doors - $ 28,710
Replace parking control equipment @ $150 per space - $120,000
Replace lighting as necessary @ $6.25 per space - $ 5,000
Restripe lower floor to improve ingress/egress - $ 8,000
48Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Replace lighting system - $ 32,750
Replace grease interceptor - $ 2,000
Replace sump pump on lower level - $ 1,500
Replace Carbon Monoxide monitoring system - $ 7,000
Install security system on upper level - $ 7,000
Install exterior protection for Fan Room on upper level - $ 2,000
Install protection for fire sprinkler risers - $ 2,500
Total - $216,460
3. Watseka Parking Structure:
Paint all interior walls and elevator doors - $ 26,715
Replace parking control equipment @ $150 per space - $ 49,500
Replace lighting as necessary @ $6.25 per space - $ 2,500
Anchor wheel stops - $ 27,000
Install tamper proof hose - $ 1,200
Total - $106,915
4. Venice Parking Lot:
Re-slurry and restripe @ $475 per space - $ 14,700
Install necessary signage - $ 2,000
Install permanent fencing between street and parking area - $ 3,000
Total - $ 20,000
5. 3715 Robertson Blvd. of Robertson Parking Lots No. 1 and 2:
Demolish and repair perimeter fence - $ 5,000
Re-slurry and restripe @ $475 per space - $ 3,500
Repair area signage - $ 3,000
Total - $ 11,500
6. 3757 Robertson Blvd. of Robertson Parking Lot No. 3:
Re-slurry and restripe @ $475 per space - $ 18,050
Total - $ 18,050
7. Virginia Parking Lot:
Re-slurry and restripe @ $475 per space - $ 64,600
8. Canfield Parking Lot:
49Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Re-slurry and restripe @ $475 per space - $ 13,300
Grand Total - $613,615
Capital Improvement Fund for Parking Parcels
The average age of the Parking Structures is 19 years. Consequently, major capital
improvement funding will be necessary in the future to ensure public safety. The
estimated cost of the capital expenditures for the Parking Parcels is $623,000. The
former Redevelopment Agency had been in the process of establishing a capital fund
for ongoing and future property maintenance of the Parking Structures and Parking
Lots, but the elimination of the former Redevelopment Agency and redevelopment by
enactment of the Dissolution Act halted implementation of this program. In order to fund
the capital improvements, a capital fund must be established in the annual amounts
below, based on a best practices estimate of $1 per square foot per year:
1. Cardiff Parking Structure: $138,950.
2. Ince Parking Structure: $280,350.
3. Watseka parking Structure: $115,500.
4. Virginia Parking Lot: $ 47,600.
5. Venice Parking Lot: $ 10,500.
6. Robertson Parking Lot No. 1: $ 2,800.
7. Robertson Parking Lot No. 2: $ 1,050.
8. Robertson Parking Lot No. 3: $ 11,200.
9. Washington Parking Lot: $ 5,250.
10. Canfield Parking Lot: $ 9,800.
Zoning
The Parking Parcels are zoned Public Parking Facilities (“PPF”) and subject to the
Alternative Parking Provisions set forth in Section 17.320.025 of the Culver City Zoning
Code, as amended, consistent with the City’s General Plan, with the exception of the
Venice Parking Lot, which is located in the city of Los Angeles. The Public Parking
Facilities zoning classification under Chapter 17.250 – Special Purpose Zoning Districts
of the Zoning Code, applies to all municipal parking facilities used to satisfy public or
private development parking requirements, including parking requirements for outdoor
dining in the Downtown Commercial zone. All public parking facilities within Culver City
are subject to the Alternative Parking Provisions.
All off-site parking requires the City’s City Council’s (the “Council”) approval of long-term
lease agreements (a minimum of 20 years). This requirement for Council approval
applies to private parking leases and municipal parking structure leases when satisfying
on-site required parking. The requirement for Council’s approval of lease agreements
50Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
also requires concurrent Council approval of an off-site parking plan indicating the lease
term, lease options, type of uses, tenants, hours of operation and proposed off-site
parking location. The off-site parking approval must include a recorded covenant to
conform to the off-site parking plan, and the long-term parking lease agreement may be
approved by Council only after making three mandatory consistency findings related to
the General Plan, area property and improvements, and the City’s economic welfare.
The Council may terminate the long-term parking lease agreement if the use ceases
operations, if there is any change in ownership from the originally approved project, if
the Council determines in its sole discretion that the use is inconsistent with the original
terms or conditions of the entitlement, and/or if the lessor and lessee of the off-site
parking opt to terminate their lease.
Property Value
As the foregoing demonstrates, the Parking Parcels are constrained by on-going, long-
term parking agreements, license agreements and property zoning that restricts land
use to public parking. These obligations and zoning restrictions severely limit the value
of the Parking Parcels, even though said Parking Parcels are central to the City’s
economic development strategy to attract, retain and support City businesses. The
property values of the Parking Parcels as parking assets are also severely constrained
by capital costs, deferred maintenance, and on-going operation and maintenance costs.
All of the downtown Parking Parcels acquired with tax-exempt bond funds requires
revenue neutrality, providing only enough revenues for on-going maintenance and
operations, and obligates said Parking Parcels to remain as publicly-owned
governmental purpose assets. Therefore, the Parking Parcels will achieve maximum
use and benefit to the State, County and taxing entities by allowing for the Parking
Parcels to be conveyed to the Culver City Parking Authority, and for the Cardiff Parking
Structure to remain with the Culver City Parking Authority, in accordance with this Plan
in order for the Parking Parcels to continue complying with their respective statutory and
contractual obligations, supporting and furthering economic development, and
supporting the local economy.
ATTACHMENTS
1. Map – Parking Structures and Parking Lots.
2. Parking Agreements.
51Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Parcel B Property (Developer Parcel) and Town Plaza Expansion Property (City
Parcel)
9300 Culver Boulevard,
APN 4206-029-934,
4206-029-935.
This narrative pertains to two separate parcels, referenced as 1) the “Parcel B
Property”, or the “Developer Parcel”, and 2) the “Town Plaza Expansion Property”, or
the “City Parcel”. The Developer Parcel is included and analyzed in the Long Range
Property Management Plan (the “Plan”) as “Properties to be Sold”, and the City Parcel
is included and analyzed in the Plan as “Properties to be Retained for Governmental
Use” (to be retained by the City), as described below.
As discussed below, the Developer Parcel and the City Parcel are proposed to be
developed together toward a global “Project” (defined below). By developing both the
Developer Parcel and the City Parcel together, the parcels will achieve maximum use
and benefit to the State, County and taxing entities, and the Successor Agency and the
City will realize cost savings since much of the proposed Project-related costs, except
for costs of the public improvements, will be funded by a “Developer” (defined below), in
accordance with the terms of a “Disposition and Development Agreement” (“DDA”)
(defined below).
Background
The former Redevelopment Agency had been planning for the redevelopment of the
Developer Parcel, the development of the City Parcel, and the development of the
proposed Project for several years beginning in September 1999, and had engaged in
numerous Requests for Proposals from various developers, until the former
Redevelopment Agency ultimately agreed upon the selection of the “Developer” for the
proposed “Project”.
Both parcels were initially comprised of several parcels that were later reassembled into
two parcels (Assessor Parcel Numbers 4206-029-934 and 4206-029-935) for
redevelopment (Attachment No. 1). The Developer Parcel and the City Parcel are
located within ½ mile of the City of Culver City’s (the “City”) new Transit Oriented
Development District, which location will serve to increase pedestrian traffic and the
economic potential for the “Project” (defined below).
The DDA and certain costs related to these parcels were included on the Amended and
Restated Enforceable Obligations Payment Schedule and were not objected to by the
Department of Finance as listed on: Page 3, Item 2; and Page 5, Items 2 through
7. The following items were included on the Enforceable Obligations Payment
Schedule and were not objected to by the Department of Finance: Page 2, Item 10; and
52Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Page 3, Items 5, 27 and 28. In addition, the following items were included on the Draft
Preliminary Recognized Obligations Payment Schedule and were not objected to by the
Department of Finance: Page 2, Items 10, and 27; and Page 3, Items 27 and 28.
Therefore, based on these approvals, the Successor Agency has continued to take
steps in furtherance of the anticipated disposition of the parcels as proposed in the
Plan.
Summary of Property Ownership
The former Redevelopment Agency assembled the Developer Parcel and the City
Parcel between 1980 and 1989 for purposes of redevelopment consistent with the
Redevelopment Plan for the Culver City Redevelopment Project, Component Area 3.
On March 7, 2011, the former Redevelopment Agency conveyed the Developer Parcel
and the City Parcel to the City. On September 24, 2012, the City conveyed the
Developer Parcel and the City Parcel to the Successor Agency to the Culver City
Redevelopment Agency (the “Successor Agency”), as the former Redevelopment
Agency’s successor-in-interest, in accordance with Assembly Bill No. X1 26 and
Assembly Bill No. 1484 (collectively referred to as the “Dissolution Act”).
The Town Plaza Expansion Property (APN 426-029-935) is comprised of one parcel
that is encumbered by a City easement for right of way purposes. This easement
precludes commercial development and cannot be removed as the parcel’s intended
purpose is to provide public access for a planned public open space.
Entitlements and Zoning
The Developer Parcel and the City Parcel are a component of the Town
Plaza/Screenland cinema, restaurant, retail and office project (defined as the “Town
Plaza Project”) located at 9530 Washington Boulevard and 9300-9310 Culver
Boulevard, Culver City, and commonly referred to as Parcels A, B (i.e. Parcel B
Property), and C. The Town Plaza Project was proposed to be a total of approximately
202,000 square feet of gross leasable floor area. The Town Plaza Project was
considered in a Final Supplemental Environmental Impact Report (FSEIR) which was
certified by the former Redevelopment Agency on May 3, 1999. The Town Plaza
Project was approved as Site Plan Review SPR P-1999044 by the Culver City Planning
Commission pursuant to Resolution No. 2000-P003 on January 31, 2000. This
approval was modified by Modification No. 1, approved on July 11, 2001, by the Culver
City Planning Commission pursuant to Resolution No. 2001-P007, and further modified
by Modification No. 2, approved by the Culver City Planning Commission pursuant to
Resolution No. 2002-P001. The project was further revised by the developer whose
design was approved by the Planning Commission on July 11, 2007 as Modification No.
3, pursuant to Resolution No. 2007-P012.
53Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Development on Parcels A and C of the Town Plaza Project has been completed, and
the development of the Parcel B Property/Developer Parcel remains pending together
with the development of the City Parcel. The entitlements for the proposed “Project”
(defined below) are held by the “Developer” (defined below) and remain effective. The
proposed Project enjoys widespread community support, which followed an entire year
of public outreach to select the best project and most qualified developer,
Combined/Hudson 9300 Culver LLC, a joint venture of Combined Properties and
Hudson Pacific Properties. The Developer is ready and willing to implement and
develop the Project as described in the DDA.
The Developer Parcel/Parcel B Property is zoned Commercial Downtown (CD) under
the City’s zoning regulations and is fully entitled by the Developer for development in
accordance with the DDA (defined below). As discussed below, the current entitlement
for the Parcel B Property conveys a unique property right by allowing the Project-related
parking needs, as required by the City, to be located at an adjacent parking structure
(i.e. the Ince Parking Structure), creating a significant development benefit without
which the Parcel B Property’s developable area is significantly reduced and the Parcel
B Property’s development costs are significantly increased. Further, the existing
entitlements allow the proposed Project pursuant to the DDA to commence construction
immediately.
The City Parcel/Town Plaza Expansion Property is public right of way within the
Commercial Downtown Zone and zoned Public Parking Facility (PPF) under the City’s
zoning regulations and was reconfigured from the former Washington Blvd public right-
of-way. As discussed above, the Town Plaza Expansion Property is proposed to be
developed by the Developer in conjunction with the redevelopment of the Parcel B
Property for development of the Project pursuant to the DDA, which will achieve
maximum use and benefit to the State, County and taxing entities and result in cost
savings to the Successor Agency and the City.
In connection with downtown Culver City, the City’s zoning regulations call for a
pedestrian friendly downtown that emphasizes retail, entertainment and restaurants. In
addition, the City’s General Plan identifies the downtown as a unique destination to
encourage restaurants, sidewalk cafes and specialty retail. Further, the City’s Design
For Development regulations identify on-site parking restrictions for downtown
development, which regulations require that new parking lots and parking structures in
downtown shall be located as much as possible to the rear or underneath buildings, and
specifically prohibit locating required parking between the front property line and the
primary storefront entry. As discussed in this narrative, the proposed Project, as
entitled, addresses this parking restriction with a unique property right by allowing the
Project-related parking needs to be located at an adjacent parking structure rather than
solely on-site.
54Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Disposition and Development Agreement
The Developer Parcel is the only remaining redevelopment parcel in downtown Culver
City. During the City’s ownership of the Developer Parcel and the City Parcel, the City
entered into that certain Disposition and Development Agreement by and between the
City and Combined/Hudson 9300 Culver LLC (the “Developer”) dated January 31, 2012
(the “DDA”) for the development of a high quality office and retail complex,
subterranean private and public parking improvements, and other public improvements
including the public plaza (the “Project”). (Attachment No. 2.) The proposed Project is
comprised of a public and a private component. The private component provides a mix
of retail, restaurant and office uses together with subterranean parking. The public
component includes the expansion of the Town Plaza Project to provide a unique open
venue for public cultural events and a new subterranean public parking garage. The
Developer will coordinate construction of all components of the Project, both public and
private, subject to public funding of the public component.
Specifically, and subject to the terms and conditions of the DDA, the Project consists of
the construction of (i) a four-level high quality office and retail complex with an Elevated
Plaza and “Grand Stairs,” providing approximately 115,108 square feet of gross building
area containing a minimum of 32,654 square feet dedicated to retail and restaurant
uses and containing a minimum of 55,470 gross square feet dedicated to office use and
including public restrooms and a storage area, in addition to approximately 18,990
square feet of open space, and approximately 98 subterranean parking spaces, on the
Developer Parcel (defined in the DDA as the “Parcel B Improvements”); and (ii) certain
subterranean public parking improvements, including approximately 100 parking
spaces, located primarily on the City Parcel adjacent to the Parcel B Improvements with
a portion of the public parking spaces located within the Parcel B Property (defined in
the DDA as “Public Parking Improvements”); and (iii) certain public improvements
located on the City Parcel adjacent to the Parcel B Improvements relating to the
expansion of the Town Plaza Project (defined in the DDA as the “Town Plaza
Expansion Improvements”).
The DDA contemplates the disposition of the Developer Parcel to the Developer for the
development of the Project pursuant to the DDA, including construction of the Parcel B
Improvements and a portion of the Public Parking Improvements on the Developer
Parcel. The disposition of the Developer Parcel to the Developer as contemplated by
the DDA will generate land sale proceeds in an amount at least equal to and possibly
substantially in excess of the recently appraised fair market value of such property. It is
contemplated that such amount will be paid to the Successor Agency for use in
reducing enforceable obligations and/or remitting to taxing entities as residual proceeds
in accordance with the Dissolution Act. The DDA further contemplates the City’s
ownership of the City Parcel and the Town Plaza Expansion Improvements and Public
Parking Improvements to be constructed on the City Parcel, and the City’s right to use
the Public Parking Improvements located on the Parcel B Property.
55Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
In addition, in order to fulfill the remaining parking requirements of the City for the
proposed Project and the parking needs for the Parcel B Improvements, the DDA allows
the Developer to acquire a license for off-site parking pursuant to the “Parking License”
(as defined in the DDA), which provides that the Developer will have a non-exclusive
license to access and use up to three hundred seventeen (317) parking spaces located
within the Successor Agency-owned Ince Parking Structure for use by customers and
tenants of the Parcel B Improvements, in accordance with the terms and conditions of
the DDA. The Ince Parking Structure is a parking facility located at 9099 Washington
Boulevard, Culver City, and is included and analyzed separately in the Plan under
“Properties to be Retained for Governmental Use”.
The redevelopment of the Developer Parcel, the development of the City Parcel and the
development of the proposed Project will generate sales taxes and significantly increase
surrounding property values, resulting in increased property taxes to be distributed to
the taxing entities. However, the proposed “Project” requires the support of the
Department of Finance, thereby allowing the Successor Agency to sell the Developer
Parcel to the Developer for the Developer’s development of both the Developer Parcel
and the City Parcel, and the Successor Agency to fund the development of the Public
Parking Improvements and the Town Plaza Expansion Improvements. In this regard,
the Successor Agency adopted Resolution No. 2012-SA010 on August 13, 2012, and
the Oversight Board adopted Resolution No. 2012-OB006 on September 13, 2012 after
publication of a 10-day public notice, approving, among other actions: (i) the terms of
the DDA between the City and the Developer, (ii) the sale and conveyance of the
Developer Parcel to the Developer in accordance with the terms of the DDA for
development of the Project, (iii) the City’s ownership of the City Parcel and Public
Parking Improvements and Town Plaza Expansion Improvements constructed as part of
the Project, and (iv) the Successor Agency’s retention of the residual proceeds received
from the sale of the Developer Parcel to the Developer for the Successor Agency’s use
in winding down the affairs of the former Redevelopment Agency pursuant to Section
34177(e) of the Dissolution Act. The DOF subsequently reviewed and rejected the
Oversight Board’s actions pending the Successor Agency’s submittal and the DOF’s
approval of the Plan incorporating the use and disposition of the Developer Parcel and
the City Parcel.
In addition, on August 13, 2012, the City Council adopted Resolution No. 2012-R083
approving, subject to conditions precedent (including, without limitation, the Department
of Finance’s approval or the effectiveness of the Oversight Board’s approvals under the
Dissolution Act), the Successor Agency’s retention of the residual proceeds received
from the sale of the Developer Parcel to the Developer under the DDA for the
Successor Agency’s use in winding down the affairs of the former Redevelopment
Agency pursuant to Section 34177(e) of the Dissolution Act.
Further, as mentioned above, the DDA and certain costs related to the proposed Project
and the Parcel B Property and the Town Plaza Expansion Property were included on
the Enforceable Obligation Payment Schedule, the Draft Preliminary Recognized
56Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Obligation Payment Schedule, and/or the Amended and Restated Enforceable
Obligation Payment Schedule, and were not objected to by the Department of Finance.
The Parcel B Property is also contractually encumbered with a Parking License
Agreement with the adjacent Culver Hotel allowing the Developer Parcel to be used for
parking by the Culver Hotel unless the Parcel B Property is transferred to the
Developer.
Property Value of Parcel B / Developer Property
In the fall of 2012, the City engaged a MAI appraiser to establish the fair market value of
the Parcel B Property/Developer Parcel at its highest and best use. Consistent with
appraisal industry standards, the appraiser determined that the fair market value of the
Parcel B Property is $2 million (“Appraisal”) (Attachment No. 3). The fair market
Appraisal demonstrates that the proceeds from the sale of the Parcel B Property to the
Developer for development of the Project pursuant to the DDA will exceed the $2 million
appraised fair market value. In addition, the appraiser determined that only the
proposed Project is legally permissible, physically possible and financially feasible due
to the ability to use existing entitlements and to locate Project-related parking off-site in
an adjacent parking facility. In turn, the appraiser concluded that the proposed Project
generates the maximum productive value of the Developer Parcel/Parcel B Property.
Any alternative project other than the proposed Project contemplated by the DDA and
described above will take a minimum of four years to advance to the construction stage.
If the proposed Project as contemplated by the DDA does not go forward, such event
will result in the loss of one-time land sale proceeds, will significantly reduce the tax
revenue stream from the Developer Parcel/Parcel B Property, and will delay
development of the vacant parcel for an unknown number of years. Further, without
implementing the existing DDA and the associated development of the proposed Project
and sale of the Developer Parcel/Parcel B Property to the Developer, no entitlements
will exist and no parking rights will be permitted for development of the Parcel B
Property. The net land sales proceeds will therefore diminish and the Parcel B Property
will likely remain undeveloped for years pending approval of potential new development
permits. In addition, the City’s Parking Ordinance currently provides the City’s City
Council with final authority over the approval all off-site parking pursuant to Section
17.320.025 of the City’s Zoning Code|1010|. Therefore, any future development of the Parcel
|1010| City Council approval of long term lease agreements (minimum 20 years) to satisfy off-site parking
requirements. The City Council approval applies to private parking leases and municipal parking
structure leases when satisfying parking requirements. The lease approval by the City Council requires
concurrent approval of an off-site parking plan indicating the lease term, lease options, type of uses,
tenants, hours of operation and proposed off-site parking location. At the end of the 20 year lease term, if
alternative parking is not provided or the long-term lease is terminated, then the use must be terminated.
The City Council may terminate the long-term parking lease approval if the use ceases operations, if
there is any change in ownership from the originally approved project, if the City Council determines in its
57Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
B Property satisfying its parking requirements through use of off-site parking (other than
pursuant to the previously approved DDA) would be subject to the approval of the City
Council at its sole and absolute discretion.
However, if the Parcel B Property is sold to the Developer in accordance with and
pursuant to the DDA, the proposed Project, after completion, will generate continuous
sales tax and property tax revenue streams. In this regard, annual property tax
revenues are estimated to total $475,000, annual sales tax revenues for distribution to
the County, the State and the City are estimated to total $1,595,000, and the total public
revenues projected to be received in net present value dollars over the life of the Project
are estimated at $40,733,000. In addition, the Project will generate approximately 334
jobs that will create millions of State General Fund income taxes annually.
Property Value of Town Plaza Expansion Property/City Parcel
The Town Plaza Expansion Property/City Parcel, to be developed with the proposed
subterranean Public Parking Improvements and Town Plaza Expansion Improvements
pursuant to the DDA, has no value currently as it is public right-of-way . There is limited
seasonal and temporary revenue derived from the use of the Town Plaza Expansion
Property/City Parcel to accommodate filming and public events. Upon development of
Parcel B Property/Developer Parcel, this revenue will no longer be generated due to
redevelopment of the area as a public open space. These temporary revenues also
apply to the use of the Parcel B Property/Developer Parcel.
ATTACHMENTS
1. Parcel Map.
2. Disposition and Development Agreement.
3. Appraisal.
sole discretion that the use is inconsistent with the original terms or conditions of the entitlement, and/or if
the lessor and lessee of the off-site parking opt to terminate the lease.
The off-site parking must be approved with a City approved and recorded covenant reflecting the off-site
parking plan, and the off-site parking plan and long term parking lease may be approved by the City
Council only after making three mandatory findings related to consistency with the General Plan,
consistency with area property and improvements and consistency with the City’s economic welfare.
58Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Washington Centinela
This narrative pertains to two separate groups of parcels referenced as Site A and Site
B (the “Parcels”). A portion of Site A and all of Site B are included and analyzed in the
Long Range Property Management Plan (the “Plan”) as “Properties to be Sold”, and the
remaining portion of Site A is included and analyzed in the Plan as “Properties to be
Retained for Governmental Use” (to be transferred to the Culver City Parking Authority).
As further discussed below, the Parcels are proposed to be developed together toward
a global “Market Hall and Parking Structure Project” (the “Project”). By developing both
Site A and Site B together, not only will the Parcels generate maximum proceeds for
use in reducing enforceable obligations and/or remitting to taxing entities as residual
proceeds in accordance with the Dissolution Act, but the completed Project will
generate significantly greater sales tax and property tax revenue streams in addition to
the creation of new jobs.
The Parcels are listed below and described in detail in the property summary pages
following this narrative:
1. 12337 Washington Blvd. (Site B) APN 4232-009-901.
2. 12343 Washington Blvd. (Site B) APN 4232-009-900.
3. 12403 Washington Blvd. (Site A)
12413 Washington Blvd. (Site A)
12421 Washington Blvd. (Site A)
12423 Washington Blvd. (Site A)
4061 Centinela Ave. (Site A)
4063 Centinela Ave. (Site A) APN 4231-002-901,
4231-002-902,
4231-002-903,
4231-002-904,
4231-002-905,
4231-002-906,
4231-002-907,
4231-002-909.
4. 4064 Colonial Ave. (Site A) APN 4231-002-900,
4231-002-908.
Certain costs related to the Parcels were included on the Amended and Restated
Enforceable Obligations Payment Schedule and were not objected to by the
Department of Finance as listed on: Page 3, Item 2; and Page 6, Items 3 through 8.
The following items were included on the Enforceable Obligations Payment Schedule
and were not objected to by the Department of Finance: Page 2, Items 10 and 27; and
59Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Page 3, Items 5 and 6. In addition, the following items were included on the Draft
Preliminary Recognized Obligations Payment Schedule and were not objected to by the
Department of Finance: Page 2, Items 10, 27 and 28; and Page 3, Item 5. Therefore,
based on these approvals, the Successor Agency has continued to take steps in
furtherance of the anticipated disposition of the Parcels as proposed in the Plan.
Background
For over eight years, the former Redevelopment Agency had been involved with
acquiring, clearing and cleaning the formerly blighted site at Washington Boulevard and
Centinela Avenue in order to make it ready for development of the proposed Project that
has been strongly supported by the community.
After years of planning and preparing the Parcels for development, on June 27, 2011,
the City of Culver City (the “City”) and the former Redevelopment Agency approved the
redevelopment of the Parcels for the Project, which includes a 33,250 square foot
uniquely designed “Market Hall” with specialty retail and artisanal food vendors. The
Project is comprised of Site A and Site B of similar design to be constructed
concurrently as the following uses:
Site A: A Market Hall with high ceiling and/or mezzanine space comprised of
approximately 21,250 square feet of building area on a 53,022 square foot parcel with
public plaza frontage. A 21,600 square foot portion of Site A will be used to construct a
public parking structure to serve the Project and the adjacent commercial area.
Site B: An additional high ceiling and/or mezzanine Market Hall or other related
retail/restaurant uses comprised of approximately 12,000 square feet of building area on
a 19,736 square foot parcel with public plaza frontage.
On June 27, 2011, the City and the former Redevelopment Agency authorized the
issuance of a Request for Proposals (“RFP”) to secure a firm to design and develop the
Project and to act as construction manager for the construction of the public parking
structure.
On September 26, 2011, the former Redevelopment Agency considered public opinion
of the Project that had been solicited via two community meetings, and approved
specifications and language for the RFP. Proposals were received from two qualified
firms. It was determined that Regency Centers Acquisition, LLC (the “Developer”) is the
firm best qualified to develop the Project as approved by the City and the former
Redevelopment Agency and as supported by the community.
On February 14, 2012, the City and the Developer entered into an Agreement
(discussed below) for the Developer, among other things, to develop the Project.
60Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
The Successor Agency to the Culver City Redevelopment Agency (the “Successor
Agency”) anticipates that the City will design and construct the above-referenced public
parking structure on a portion of Site A in accordance with the Agreement, and
thereafter the Successor Agency will transfer the property and parking structure to the
Culver City Parking Authority upon completion. The Successor Agency’s participation in
the Project’s parking needs provides a method to leverage the development that the
Successor Agency and the City are seeking for these Parcels. Site A will be subdivided
in order to create two parcels: one will be occupied by the public parking structure and
the other will be occupied by the Market Hall. The public parking structure will provide
parking that is required for the Project and that will serve patrons of surrounding
businesses.
Summary of Property Ownership
On October 26, 2007, the former Redevelopment Agency acquired the following
properties for $5,577,230: APN 4231-002-901, 4231-002-902, 4231-002-903, 4231-
002-904, 4231-002-905, 4231-002-906, 4231-002-907, 4231-002-909.
On February 26, 2006, the former Redevelopment Agency acquired the property
referenced as APN 4232-009-900 for $2,232,718.74.
On October 17, 2005, the former Redevelopment Agency acquired the property
referenced as APN 4232-009-901 for $638,800.
All of the aforementioned properties were transferred from the former Redevelopment
Agency to the City on March 14, 2011, but the transfers were subsequently rescinded
on September 24, 2012 by action of the City Council of the City and the Successor
Agency, as the former Redevelopment Agency’s successor-in-interest, in accordance
with Assembly Bill No. X1 26 and Assembly Bill No. 1484 (collectively referred to as the
“Dissolution Act”).
Further, the development of the Project requires the inclusion of 4064 Colonial Avenue
of Site A, referenced by APN 4231-002-900 and APN 4231-002-908, which are located
adjacent to yet outside the Culver City Redevelopment Project Area. In accordance
with provisions of the California Community Redevelopment Law, the City, using former
Redevelopment Agency funds, acquired APN 4231-002-900 and APN 4231-002-908 on
February 19, 2006, for $1,204,949.00.
A portion of the Site A includes a public right of way easement and a utility easement.
Together these easements restrict the development of the site as one contiguous
parcel, unless the City elects to rescind the public right of way easement and relocate
the utility easement. However by reconfiguring the site to create one contiguous parcel
the site area is substantially increased by 7,685 square feet.
61Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
These properties were subsequently transferred from the City to the Successor Agency
by action of the City Council and the Successor Agency taken on September 24, 2012.
Zoning
The Project site is zoned for Commercial General (CG) which permits a Market Hall use
and Public Parking Facility (PPF) which permits public parking
Site A is approximately 53,022 square feet, with a net developable area of 31,422
square feet. It is located on the northwest corner of Washington Boulevard at Centinela
Avenue and is zoned Public Parking Facility (PPF). PPF zoning will only permit
construction of public parking facilities and ground level retail use.
Site B is approximately 19,736 square feet and is located at the northeast corner of
Washington Boulevard at Centinela Avenue and is zoned Commercial General (CG).
Site A and Site B are currently vacant with the exception of above ground utilities and
an alley. A portion of Site A includes a public right of way easement and a utility
easement, and Site B includes a utility easement. Together, these easements prevent
the development of the sites as contiguous parcels unless the City elects to rescind the
public right of way easement and relocate the utility easements. However, by
reconfiguring each site to create contiguous developable areas, the Project is
substantially enhanced and increased by 7,685 square feet.
Development of Site A requires an adjustment of lot lines and a division of land to
create a Developer Parcel and a separate Public Parking Parcel. On the Public Parking
Parcel portion of Site A the City will develop a 217-stall public parking structure to serve
the Project and the adjacent commercial area. The remainder of Site A will be the
Developer Parcel that will be sold to the Developer for its development of the Market
Hall Project. Development of Site B also requires an adjustment of lot lines. Site B will
be sold to the Developer for its development of commercial uses as part of the Market
Hall Project.
Development of Site A and Site B with the proposed Project pursuant to the Agreement
(discussed below) will fill in a significant gap in the Washington Blvd. streetscape and
eliminate blighting conditions caused by the improper and underutilization of land.
Further, development of the Project will implement the goals and objectives set forth in
the former Redevelopment Agency’s Five Year Implementation Plan for 2010-2014 by
eradicating blighting influences and facilitating private investment in the Washington
Blvd. commercial area, by bringing land to a productive use through a coordinated
program of new construction and supportive public improvements, and by facilitating
appropriate development of vacant and underutilized sites.
The Site A and Site B Parcels are located within the former Redevelopment Agency’s
Area Improvement Plan (“AIP”), which is a commercial revitalization program that
62Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
includes shop rehabilitation assistance, gap loans and public improvements. The AIP
levies annual assessments on properties within the AIP boundaries, subject to annual
Consumer Price Index (“CPI”) increases calculated to maintain a constant level of
funding when factored for inflation. The assessments are permanently attached to the
properties.
The following table lists the annual assessments for the Washington-Centinela Parcels
for Fiscal Year 2011-2012:
APN District Assessment Number 2011-2012 Assessment
4231-002-901 W. Washington Blvd. No. 2 5 1335.72
4231-002-902 W. Washington Blvd. No. 2 6 809.64
4231-002-903 W. Washington Blvd. No. 2 7 273.62
4231-002-904 W. Washington Blvd. No. 2 8 557.74
4231-002-905 W. Washington Blvd. No. 2 4 180.92
4231-002-906 W. Washington Blvd. No. 2 3 180.92
4231-002-907 W. Washington Blvd. No. 2 1 423.44
4231-002-909 W. Washington Blvd. No. 2 2 442.44
4232-009-900 W. Washington Blvd. No. 2 32 226.66
4232-009-901 W. Washington Blvd. No. 2 31 865.18
TOTAL $5296.28
Purchase Agreement
On February 14, 2012, the City entered into that certain Agreement (Attachment No. 1)
by and between the City and the Developer for the development of the Project. The
Agreement requires the Developer to pay a total purchase price of $1,278,950 for Site B
and that portion of Site A to be used for development of all non-parking components of
the Project. The Agreement further stipulates that the Developer will construct a high
quality Market Hall project and act in the capacity as construction manager for the
construction of the public parking structure. In addition, the Agreement provides for the
provision of other public improvements, including curb and gutter improvement work,
sidewalk improvements, adjacent street resurfacing, left-hand turn signals N/S on
Centinela Ave., left hand turn signals E/W on Washington Blvd., paving Colonial alley,
resurfacing Grandview alley, special crosswalk paving at the Washington/Centinela
Intersection, replacing high with low voltage streetlights, and traffic calming measures.
The purchase price of $1,278,950 to be paid by the Developer for Site B and that
portion of Site A to be developed with non-parking components of the Project was
determined fair and reasonable because of the Developer’s obligations set forth in the
Agreement, without additional cost to the City, which require the Developer to secure
non-national tenants who will occupy the Market Hall, to relocate utilities at a total
estimated cost value of $250,000, to construct certain off-site public improvements at a
total estimated cost value of $684,000, and to act as the construction manager for the
construction of the public parking structure at a total estimated cost value of $200,000.
In addition, the scope of development proposed by the Developer has significantly
63Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
higher costs than a typical commercial project because of the higher quality of the
Project and further, the costs to construct the Project reflect an increase in costs due to
the Developer’s payment of prevailing wages to the contractors and subcontractors.
The Project is comprised of a public and a private component. The public component,
to be developed by the City on a portion of Site A, is a 3½-level public parking structure
which will provide 217 above-ground parking spaces. Of the 217 parking spaces, 170
parking spaces will be used to meet City parking requirements for the Project and 47
additional spaces will be used for public parking to support the commercial area and
businesses. Costs to develop the public parking structure are intended to be funded
from bond proceeds.
The private component, to be developed by the Developer, includes Site B and the non-
parking facility portion of Site A. This portion of Site A provides approximately 21,250
square feet of building area with public plaza frontage and the Market Hall featuring a
mix of small food related shops and services, restaurants and a market. Site B will be
similarly designed to complement the Market Hall and includes related retail and
restaurant uses with 12,000 square feet of building area.
In order to fulfill the parking requirements of the City for the proposed Project, the
Agreement allows the Developer to acquire a license for off-site parking pursuant to a
“Parking License” which provides that the Developer will have a non-exclusive license to
access and use up to 170 parking spaces within the publicly-owned parking structure, to
be developed by the City on a portion of Site A for use by customers and tenants of the
Market Hall and the adjacent commercial area and businesses.
Market Appraisal and Property Value
The Successor Agency engaged a MAI appraiser to establish the market value of Site A
and Site B at its highest and best use. Consistent with appraisal industry standards, the
appraisal, dated April 30, 2013, determined that the market value for both Site A and
Site B is a combined total of $4,595,000. Specifically, Site A is valued at $2,615,000
and Site B is valued at $1,980,000. (Attachment No. 2).
Without implementation of the existing Agreement that provides for the associated sale
to the Developer of Site B and a portion of Site A and for development of the proposed
Project by the Developer, Site A will have little value because it is zoned Public Parking
Facility (PPF). The PPF zoning designation provides for public parking and ancillary
retail, but the cost of the parking on Site A, if Site A were to be sold separately, would
not support the ancillary retail use on Site A.
Regarding the value of Site B if sold separately, the City’s Parking Ordinance provides
the City’s City Council with final authority over the approval all off-site parking pursuant
to Section 17.320.025 of the City’s Zoning Code. Any future development of Site B
relative to the ability to provide off-site parking would be subject to approval of the City
64Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Council at its sole and absolute discretion. However, it is unlikely parking rights will be
permitted by the City Council for development of Site B unless both Site A and Site B
are developed together in accordance with the proposed Project.
Similarly, the City will not rezone Site A for alternative use because such alternative
uses for Site A were carefully considered in public meetings and rejected.
Consequently, without development of the proposed Project in accordance with the
Agreement, net land sale proceeds for the benefit of the taxing entities will be negative
since Site A and Site B will likely remain undeveloped.
However, if Site B and a portion of Site A are sold to the Developer in accordance with
and pursuant to the Agreement, the Successor Agency will realize significantly greater
proceeds for use in reducing enforceable obligations and/or remitting to taxing entities
as residual proceeds in accordance with the Dissolution Act. Moreover, after
completion, the Project will generate continuous sales tax and property tax revenue
streams. In this regard, annual property tax revenues are estimated to total $173,843,
annual sales tax revenues for distribution to the County, the State and the City are
estimated to total $1,143,939, and the total public revenues projected to be received in
net present value dollars over the life of the Project are estimated to total
$22,551,859. Finally, the Project will generate approximately 321 jobs that will create
millions of State General Fund income taxes annually.
ATTACHMENTS
1. Agreement.
2. Appraisal.
65Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
La Ballona Creek Parcel One
APN 4205-005-908.
La Ballona Creek Parcel One, APN 4205-005-908 (“Parcel One”), described in this
narrative is an undevelopable remnant of property and included and analyzed in the
Long Range Property Management Plan (the “Plan”) as “Properties to be Retained for
Governmental Use”. The Successor Agency to the Culver City Redevelopment Agency
(the “Successor Agency”) proposes to transfer Parcel One to the City of Culver City (the
“City”), as the appropriate entity for its possession and administration.
Parcel One is a 1,800 square foot (0.04 acres) parcel remnant connecting Smiley Drive
to the La Ballona Creek in the City. Parcel One has no monetary value due to the
applicable zoning regulations, and due to the size, configuration and accessibility
limitations which make Parcel One undevelopable. Nevertheless, Parcel One can
remain open space as proposed by the Successor Agency, which is an approved
governmental use under the Dissolution Act.
Certain costs related to Parcel One were included on the Enforceable Obligations
Payment Schedule and were not objected to by the Department of Finance as listed on:
Page 2, Item 10; and Page 3, Item 5. In addition, the following items were included on
the Draft Preliminary Recognized Obligations Payment Schedule and were not objected
to by the Department of Finance: Page 2, Items 10 and 27; and Page 3, Item 5. Based
on these approvals, the Successor Agency has continued to take steps in furtherance of
the anticipated disposition of Parcel One as proposed in the Plan.
Summary of Property Ownership
Parcel One was acquired by the former Redevelopment Agency on December 7, 2004,
with 2002 tax-exempt bond proceeds.
Zoning
Parcel One is zoned Open Space (OS) pursuant to the City’s Zoning Code. Thus, the
proposed disposition of Parcel One to the City for use as open space is consistent with
the City’s zoning regulations.
Property Value
Parcel One has no monetary value due to the applicable zoning regulations, and due to
the size, configuration and accessibility limitations which make Parcel One
undevelopable. Parcel One does not generate any revenue for the Successor Agency.
66Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
La Ballona Creek Parcel Two
APN 4209-030-901,
4209-030-902.
La Ballona Creek Parcel Two, APN 4205-005-908 (“Parcel Two”), described in this
narrative is an undevelopable remnant of property and included and analyzed in the
Long Range Property Management Plan (the “Plan”) as “Properties to be Retained for
Governmental Use”. The Successor Agency to the Culver City Redevelopment Agency
(the “Successor Agency”) proposes to transfer Parcel Two to the City of Culver City (the
“City”), as the appropriate entity for its possession and administration.
Parcel Two is a 92,783 square foot (2.13 acres) parcel remnant located entirely within
the La Ballona Creek flood channel in the City. Parcel Two has no monetary value due
to the applicable zoning regulations, and due to the size, configuration and accessibility
limitations which make Parcel One undevelopable. Nevertheless, Parcel Two can
remain open space as proposed by the Successor Agency, which is an approved
governmental use under the Dissolution Act.
Certain costs related to Parcel Two were included on the Enforceable Obligations
Payment Schedule and were not objected to by the Department of Finance as listed on:
Page 2, Item 10; and Page 3, Item 5. In addition, the following items were included on
the Draft Preliminary Recognized Obligations Payment Schedule and were not objected
to by the Department of Finance: Page 2, Items 10 and 27; and Page 3, Item 5. Based
on these approvals, the Successor Agency has continued to take steps in furtherance of
the anticipated disposition of Parcel Two as proposed in the Plan.
Summary of Property Ownership
APN 4209-030-901 of Parcel Two was acquired by the former Redevelopment Agency
on June 14, 1978 and APN 4209-030-902 of Parcel Two was acquired by the former
Redevelopment Agency on June 26, 1977 with 2002 tax-exempt bond proceeds.
Zoning
Parcel One is zoned Open Space (OS) pursuant to the City’s Zoning Code. Thus, the
proposed disposition of Parcel Two to the City for use as open space is consistent with
the City’s zoning regulations.
67Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Property Value
Parcel Two has no monetary value due to the applicable zoning regulations, and due to
the size, configuration and accessibility limitations which make Parcel Two
undevelopable. Parcel Two does not generate any revenue for the Successor Agency.
68Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
The Jazz Bakery Performing Arts Center
9814 Washington Boulevard,
APN 4207-006-915.
This narrative pertains to one parcel located at 9814 Washington Blvd., APN 4207-006-
915 (the “Jazz Bakery Property”), that is included and analyzed in the Long Range
Property Management Plan (the “Plan”) as “Properties to be Sold”. Additionally, the
Jazz Bakery Property may be analyzed in the Plan as “Properties to be Used to Fulfill
Enforceable Obligations”, since the Jazz Bakery Property is subject to enforceable
obligations (as discussed below).
Background
The Jazz Bakery Property is a 6,950 square foot parcel and currently contains a
dilapidated, legal non-conforming 2,775 square foot house built in 1921 (Attachment No.
1.) The Jazz Bakery Property currently serves as a utility loading facility and craft
service area for the Kirk Douglas Theatre (“KDT”), formerly the Culver Theater, that
exists on the parcel immediately adjacent to the Jazz Bakery Property, located at 9820
Washington Blvd., APN 4207-006-914, referred to herein as the “KDT Property”, and
which is analyzed separately in the Plan under “Properties to Be Used to Fulfill
Enforceable Obligations”.
The former Redevelopment Agency had been planning for the disposition and
redevelopment of the Jazz Bakery Property for several years with the development of
the Jazz Bakery Performing Arts Center project (the “Project”), comprised of an iconic,
live performance, state-of-the-art music facility with a 200 seat theater complex
including a box office, lobby, music exhibition hall, and related retail/café on the ground
floor.
Disposition of the Jazz Bakery Property to the Jazz Bakery Performance Space (the
“Developer”) for the development of the Project is consistent with the following
agreements (as discussed below): (i) that certain Disposition and Development
Agreement entered into by and between the former Redevelopment Agency and Center
Theatre Group (“CTG”) dated October 9, 2001, as amended (the “DDA”) (Attachment
No. 2), (ii) that certain Lease Agreement entered into by and between the former
Redevelopment Agency and CTG, pursuant to the DDA, and dated on or about
September 4, 2003 (the “CTG Lease Agreement”) (Attachment No. 3), and (iii) that
certain Agreement entered into by and between the City of Culver City (the “City”) and
the Developer dated January 31, 2012 (the “Agreement”) (Attachment No. 4).
Certain costs related to the Jazz Bakery Property were included on the Amended and
Restated Enforceable Obligations Payment Schedule and were not objected to by the
Department of Finance as listed on: Page 3, Item 2; and Page 8, Items 2 through 4.
69Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
The following items were included on the Enforceable Obligations Payment Schedule
and were not objected to by the Department of Finance: Page 2, Item 10; and Page 3,
Items 5 and 6. In addition, the following items were included on the Draft Preliminary
Recognized Obligations Payment Schedule and were not objected to by the Department
of Finance: Page 2, Items 10 and 27; and Page 3, Item 5. Therefore, based on these
approvals, the Successor Agency has continued to take steps in furtherance of the
anticipated disposition of the Jazz Bakery Property as proposed in the Plan.
Summary of Property Ownership
The former Redevelopment Agency acquired the Jazz Bakery Property on November
29, 1995 for $281,865, using tax increment funds. The former Redevelopment Agency
transferred the Jazz Bakery Property to the City of Culver City (the “City”) on March 14,
2011. However, this transfer was subsequently rescinded on September 24, 2012 by
action of the City Council of the City and the Successor Agency to the Culver City
Redevelopment Agency (the “Successor Agency”), as the former Redevelopment
Agency’s successor-in-interest, in accordance with Assembly Bill No. X1 26 and
Assembly Bill No. 1484 (collectively referred to as the “Dissolution Act”).
Zoning
The Jazz Bakery Property is zoned Commercial Downtown (CD) pursuant to the City’s
Zoning Code. Thus, the development of the Jazz Bakery Property with the proposed
Project is consistent with the City’s zoning regulations.
Pertinent Agreements
As referenced above, the former Redevelopment Agency entered into the DDA and the
CTG Lease Agreement for the purpose of the former Redevelopment Agency (i) leasing
the KDT Property to CTG for CTG to renovate and occupy the former Culver Theater,
now Kirk Douglas Theatre (defined above as “KDT”) on the KDT Property currently used
to produce plays and shows, and (ii) leasing the Jazz Bakery Property for CTG’s
rehabilitation for KDT’s use as loading and unloading facilities and as a craft service
area for the construction of props and scenery and for the installation of electrical
equipment HVAC equipment and trash facilities to serve the KDT Property, while
allowing for the anticipated permanent redevelopment of the Jazz Bakery Property
provided that the utility loading facilities and craft service area serving the KDT Property
are preserved and included in such redevelopment and recorded as an ongoing
obligation against the Jazz Bakery Property (Attachment No. 5).
Pursuant to the CTG Lease Agreement, the initial lease term (i) for the KDT Property is
60 years with a total of 10 years of extension options and (ii) for the Jazz Bakery
Property is 10 years with extension options up to the lease term for the KDT Property.
70Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Further, pursuant to the DDA and CTG Lease Agreement, CTG pays $1.00 annual rent
to the former Redevelopment Agency (now the Successor Agency) for the lease of both
the KDT Property and the Jazz Bakery Property.
As stated above, the DDA and CTG Lease Agreement permit the Jazz Bakery Property
to be permanently redeveloped provided that the utility loading facilities and craft
service area serving the KDT Property are preserved and specifically included in such
redevelopment of, and recorded as an ongoing obligation against, the Jazz Bakery
Property. Upon such arrangement for the permanent redevelopment and inclusion of
the utility loading facilities and craft service area for the benefit of the KTD Property and
after the initial 10 year lease term, the CTG Lease Agreement may be terminated as to
the Jazz Bakery Property only. Accordingly, CTG has agreed to the redevelopment of
the Jazz Bakery Property by the Developer for development of the proposed Project
provided KDT’s existing utilities are relocated and the utility loading facilities and craft
service area serving the KDT Property are preserved on the Jazz Bakery Property and
included as part of the construction of the Project and recorded as an ongoing obligation
against the Jazz Bakery Property.
On January 13, 2012, the Developer submitted to the City a proposal to develop the
Jazz Bakery Property with the proposed Project, at its cost. Based on this proposal, the
Developer and the City entered into that certain Agreement for the purpose of
conveying the Jazz Bakery Property to the Developer for the Developer’s development
of the Project, at its cost. The Agreement further provides for the utility loading facilities
and craft service area serving the KDT Property to be included as part of the
construction of the Project.
The City and the Developer entered into that certain Agreement to provide details for
the conveyance of the Jazz Bakery Property to the Developer, consistent with the DDA
and CTG Lease Agreement, at no cost in consideration of the Developer’s development
of the Project, at its cost, in accordance with the terms of the Agreement. The
Agreement requires, without limitation, the Developer to comply with the City’s parking
requirements and long-term use and operating covenants to be recorded against the
Jazz Bakery Property, to relocate KDT’s existing utilities, to comply with the CTG Lease
Agreement in connection with CTG’s rights in the Jazz Bakery Property as part of the
construction of the Project, and to incorporate trash, recycling, and grease receptor area
in the design for use by businesses along the block.
The Developer has received a $2,000,000 grant from the Annenberg Foundation for
development of the Project and is currently raising the remainder of funds needed to
complete the Project. Gehry Architects has agreed to provide project architectural
services on a pro bono basis. The Project plans are in production and will be submitted
to the City on September 30, 2013.
The Successor Agency proposes to convey the Jazz Bakery Property to the Developer
for the Developer’s development of the Project in accordance with the Agreement as
described above.
71Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Property Value
The Successor Agency engaged a MAI appraiser to establish the market value of the
Property at its highest and best use. Consistent with appraisal industry standards, the
appraisal, dated April 30, 2013, determined the market value to be $595,000
(Attachment No. 6). However, the costs associated with preservation of the craft
service area and the loading facilities serving the KDT Property and with relocating
KDT’s utilities exceed $595,000 (Attachment No. 7). In addition, the irregular shape and
narrow size of the lot precludes the construction of on-site parking, which further
diminishes its utility and value. The inability to construct efficient on-site parking, and
the long-term use and operating covenants has reduced the Jazz Bakery Property’s
land and existing improvements value to $0.
Thus, the marketability and development of the Jazz Bakery Property is constrained by,
and subject to, the DDA and CTG Lease Agreement requirements to preserve certain
uses for the benefit of the KDT Property, and the uses and development requirements
of the Agreement.
ATTACHMENTS
1. Aerial Map of the Jazz Bakery Property.
2. DDA.
3. CTG Lease Agreement.
4. Developer Agreement.
5. Existing Utility and Craft Service Area Photographs.
6. Appraisal.
7. KOA Engineering Estimate to Relocate Utilities.
72Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Washington National Transit Oriented Development
This narrative pertains to two separate groups of parcels referenced as the “Agency
Parcels” and the “City Parcels”, respectively. The Agency Parcels are included and
analyzed in the Long Range Property Management Plan (the “Plan”) as “Properties to
be Sold”.
As further discussed below, the Agency Parcels and the City Parcels (collectively
referred to as the “TOD Project Site”) are proposed to be developed together with
certain development rights on an adjacent LACMTA Parcel (defined below) towards a
global transit oriented development comprised of a mix of compatible land uses
including office, retail, restaurant, hotel and residential (collectively, the “TOD Project”),
as more specifically described below.
If the Agency Parcels are sold by themselves, the proceeds of the sale will generate
approximately $800,000 in funds. If, however, the Agency Parcels are sold and
developed together with the City Parcels in accordance with the terms of a certain
“Purchase Agreement” (defined below) for the TOD Project, the proceeds of the sale of
the Agency Parcels will generate approximately $8,200,000. It is contemplated that
such amount will be paid to the Successor Agency to the Culver City Redevelopment
Agency (the “Successor Agency”) for use in reducing enforceable obligations and/or
remitting to taxing entities as residual proceeds in accordance with Assembly Bill No.
AB X1 26 and Assembly Bill No. 1484 (collectively referred to as the “Dissolution Act”).
By developing both the Agency Parcels and the City Parcels together, not only will the
Agency Parcels generate greater proceeds, but the completed TOD Project will
generate significantly greater sales tax and property tax revenue streams and further
effectuate a policy goal of the Dissolution Act by encouraging transit oriented
development.
The properties listed below and described in detail in the property summary pages
following this narrative are defined, collectively, as the “Agency Parcels”:
1. 8829 Exposition Blvd., APN 4312-014-913.
2. 8831 Exposition Blvd., APN 4312-014-911.
3. 8840 National Blvd., APN 4312-014-912.
4. 8841 Exposition Blvd., APN 4312-014-905.
5. 8843 Exposition Blvd., APN 4312-014-914.
6. 8824 National Blvd., APN 4312-014-917.
8825 National Blvd., APN 4312-014-916.
8828 National Blvd., APN 4312-014-915.
8801 Washington Blvd., APN 4312-014-919.
8803 Washington Blvd., APN 4312-014-918.
7. 8830-8834 National Blvd., APN 4312-014-910.
8. 8836 National Blvd., APN 4312-014-908.
8838 National Blvd., APN 4312-014-907.
73Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
9. 8839 Exposition Blvd., APN 4312-014-909.
10. 8842 National Blvd., APN 4312-014-906.
11. 8846 National Blvd., APN 4312-014-270,
4312-014-271,
4312-014-900,
4312-014-901,
4312-014-902,
4312-014-903,
4312-014-904.
Background
The TOD Project Site is located at the intersection of Washington, National and Venice
Boulevards in the cities of Culver City and Los Angeles and consists of 34 blighted
parcels. The City, with the exception of one parcel owned by the Successor Agency,
owns the parcels fronting Venice Boulevard located in the City of Los Angeles and are
collectively referred to as the “City Parcels”, representing 3.898 acres. The Successor
Agency owns the remaining parcels within the City that make up the Agency Parcels
(Attachment No. 1) and which are subject to this Plan.
The Agency Parcels are located adjacent to certain property located within the City (the
“LACMTA Parcel”) and owned by the Los Angeles County Metropolitan Transportation
Authority (“LACMTA”) within which is located a light rail station (the “EXPO Station”).
The EXPO Station represents the end point of the first phase of a two phase 9 mile light
rail line between downtown Los Angeles and Santa Monica (the “EXPO LRT Project”)
currently being developed by the Exposition Metro Line Construction Authority (“EXPO
Authority”) on behalf of the LACMTA. As discussed below, the LACMTA enjoys a right-
of-way over a portion of the TOD Project Site (including portions of the Agency Parcels)
to service the EXPO Station.
The overall shape of the TOD Project Site has challenged effective site planning and
parking layout. The former Redevelopment Agency spent 10 years visioning, planning
and studying various development and financial scenarios to ensure that a transit
oriented mixed-use development to service the EXPO Station would be both financially
feasible and reflect good planning practice. With the foregoing in mind, the former
Redevelopment Agency, City, EXPO Authority and LACMTA entered into a certain
Memorandum of Understanding (the “MOU”) dated January 11, 2011 (Attachment No.
2) wherein the parties agreed to coordinate their efforts to ensure the successful
completion of both the TOD and EXPO LRT Projects.
As provided for in the MOU, the former Redevelopment Agency, City, EXPO Authority
and LACMTA entered into various agreements, including a certain Option Agreement
for Perpetual Easement dated September 29, 2011 (the “Option Agreement”)
(Attachment No. 3) that grants the former Redevelopment Agency (now Successor
Agency) and City the right to option an irrevocable and perpetual easement (the
74Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
“LACMTA Easement”) over the LACMTA Parcel (the “LACMTA Easement Area”) to
construct of portion of the TOD Project, thereby expanding the overall potential
development of the TOD Project to 5.52 acres, in exchange for (as discussed below)
parking and construction licenses, reciprocal easements and $3.1 million for structural
redesign and construction enhancements for the EXPO Station to allow subterranean
parking encroachment to accommodate the TOD Project.
Upon exercise of the Option, the former Redevelopment Agency (now Successor
Agency) and City (whose combined rights may be assigned to a City-approved third
party such as a developer) are required to construct a transit plaza connecting the
EXPO Station with the rest of the TOD Project. The transit plaza will be designed to
accommodate the change in grade from the light rail platform to the TOD Project in
order to accommodate gathering spaces, locations for retail sales, seating and outdoor
dining. The final design of the transit plaza is subject to LACMTA approval. In addition,
upon exercise of the Option, dedicated EXPO Station parking will be provided in the
TOD Project.
As further contemplated in the MOU and provided for in the Option Agreement, prior to
development of the TOD Project, the TOD Project Site (including portions of the Agency
Parcels) is required to accommodate temporary surface EXPO Station parking pursuant
to a certain Parking License Agreement dated September 29, 2011 (Attachment No. 4)
that allows parking for up to 7 years on the TOD Project Site or when the TOD Project is
developed, whichever occurs first. In addition, the former Redevelopment Agency and
City (i) granted LACMTA permanent parking rights within the TOD Project pursuant to a
Reciprocal Easement Agreement, a form of which is attached to the Option Agreement
and (ii) granted the EXPO Authority a construction license to construct a temporary
parking lot on the Agency Parcels pursuant to a Construction License Agreement dated
September 28, 2011 (Attachment No. 5).
Notably, the MOU, the Option Agreement, the Construction License Agreement, and the
Parking License Agreement, were also included in the Amended and Restated
Enforceable Obligations Payment Schedule submitted by the former Redevelopment
Agency and were not objected to by the Department of Finance (Attachment No. 6).
Certain costs related to the proposed Project were also included on the Amended and
Restated Enforceable Obligations Payment Schedule (specifically, Page 2, Items 8 and
11; Page 3, Item 2; and Page 6, Items 13 through 20). In addition, the following cost
items were included on the Enforceable Obligations Payment Schedule by the Former
RDA and were not objected to by the Department of Finance: Page 2, Items 10 and 16;
and Page 3, Items 5 and 6. And finally, the following costs items related to the Project
were included on the Draft Preliminary Recognized Obligations Payment Schedule by
the Former RDA and were not objected to by the Department of Finance: Page 1, Item
15; Page 2, Items 10 and 27; and Page 3, Item 5. Therefore, based on these
approvals, the Successor Agency has continued to take steps in furtherance of the
anticipated disposition of the parcels as proposed in the Plan.
75Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Zoning
In addition to the TOD Project Site being within the cities of Culver City and Los
Angeles, the LACMTA owns a right-of-way over a portion of the Agency and City
Parcels to service the EXPO Station. Consequently, there are multiple zoning
classifications for the TOD Project Site reflecting the jurisdictions that have authority
over land use. Within Culver City and inclusive of a portion of the abutting LACMTA
right-of-way, the TOD Project Site is zoned Washington National PD Zone (the “PD
Zone”) which provides for site development pursuant to approval of a Comprehensive
Plan as prescribed in Chapter 17.240 of the Culver City Zoning Code (Attachment No.
7). The LACMTA Parcel retains a transportation zoning designation consistent with the
existing transportation-related uses. The portion of the TOD Project Site located in Los
Angeles, including the abutting LACMTA right-of-way, is proposed, pursuant to a
corresponding general plan amendment as part of the Los Angeles entitlement process,
to be zoned C2-2D to comport with the Culver City Washington National PD Zone. In
addition, a proposed City of Los Angeles height district “D” designation will limit building
height and floor area to be further consistent with the PD Zone.
The PD Zone provides a specified range of development for each of the required land
uses on the TOD Project Site, given open space, parking and building height
requirements and restrictions. For example, the development standards permit low- to
medium-scaled development ranging from three to five stories and up to 56 feet in
height and requires a large central open space and an extensive network of pedestrian
paths and plazas with a maximum building coverage of approximately 55 percent of the
TOD Project Site.
The public open space requirement stems, in part, from the use of tax-exempt bond
proceeds used to acquire approximately one-quarter acre of the Triangle Site (9,980 sq.
ft.). Pursuant to the federal tax code, property purchased with tax-exempt bonds must
be used to satisfy a “public purpose”. The use of these tax-exempt bond proceeds
requires that an equal amount of land in future development be dedicated for public
purpose such as park land and public open space. In addition, pursuant to the
Community Benefit requirement as provided for in the City’s Mixed-Use Ordinance, the
proposed development program, with residential density at 65 units per acre, must
reserve not less than 5,000 square feet for public park space within the TOD Project
Site. Therefore, a minimum of 14,980 square feet (or approximately 1/3 acre) of the
TOD Project Site must be dedicated to public open space and park use.
The low site building coverage is also determined by the required parking supply.
Parking is a significant cost constraint on development and the PD Zone generally limits
parking to two subterranean parking levels which must accommodate the required TOD
Project and Expo Station parking. While the shape of the TOD Project Site significantly
limits parking and development, building efficiency has been improved by incorporating
the LACMTA Easement Area through the EXPO Option Agreement and utilizing
subterranean parking encroachments to the curb line of Venice Boulevard as authorized
by the City of Los Angeles and Caltrans.
76Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
The following table summarizes the development ranges and phasing for TOD Project
development on the TOD Project Site within the PD Zone:
Development Program
Sq. Ft./ Rms./
Land Use Units Acres/Area Mtg. Rms. Parking
Office -- Min. 159,734 sq. ft. -- Min. 456
Max. 200,000 sq. ft. Max. 572
Retail|1010| & Restaurant
2 --
Min. 25,000 -- Min. 157
Max. 85,000 Max. 329
Open Space Min. 1/3 Acre
Site Coverage|1010| Max. 55%
Residential
4
Min. 120|1010| -- Min. 270
Max. 200|1010| Max. 450
Hotel/Mtg.Rms.|1010| Min. 128 Min. 154
Max. 148 Max. 175
Total
Parking Demand Min. 1,037 Max 1,526
Total Supply Parking |1010| Max. 1,567
(Two Levels)
Phase I Parking
8, 9
Min. 600 Expo
Net TOD Min. 967 TOD
Phase II Parking
8, 9
Min. 300 Expo
Net TOD Min. 1,313 TOD
______________________________________________________
1. Assume retail: 13,000 sq. ft. (min) and 73,000 sq. ft. (max).
2. Assume restaurant: 12,000 sq. ft. (min).
3. Site coverage is limited to 55% except that the coverage factor may be exceeded only by that amount necessary
to accommodate, green building principles and architectural design features.
4. Project residential density is limited to 50 dwelling units per acre except pursuant to the Mixed-Use Ordinance,
where a community benefit is approved through the Comprehensive Plan approval process allowing up to 65
dwelling units per acre within the PD Zone.
5. Residential Parking: Assume 2-3 bedroom units @ 2 per unit + 1 guest per 4 units = 2.25 per unit.
6. Hotel Parking: 1 per room + 1 per 20 rooms. Mtg. Rms: 2,000 sq. ft. @ 1 per 100 sq. ft. = 20 spaces.
7. Intentionally left blank.
8. Where parking demand exceeds supply on 2 subterranean levels, a third parking level shall be required.
9. Phase I of the EXPO LRT Project requires 600 parking spaces, For Phase II of the EXPO LRT Project parking is
reduced to 300 spaces and permits Phase II development of the TOD Project.
Summary of Property Ownership
In 2005, the former Redevelopment Agency began to acquire the Agency Parcels for
purposes of redevelopment consistent with the Redevelopment Plan for the Culver City
Redevelopment Project, Component Area 3. On March 14, 2011, the former
Redevelopment Agency conveyed the Agency Parcels to the City. On October 10,
2012, the City conveyed the Agency Parcels to the Successor Agency as the former
Redevelopment Agency’s successor-in-interest, in accordance with the Dissolution Act.
77Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Purchase Agreement
On January 31, 2012, the City executed a certain Commitment Letter Agreement (the
“Purchase Agreement”) (Attachment No. 8) with Lowe Enterprises Real Estate Group
(the “Developer”) to purchase the Agency Parcels, the City Parcels, and the
development rights on the LACMTA Easement Area (collectively referred to as the
“TOD Site”) for the agreed upon market value of $23,800,000 (the “Purchase Price”)
less agreed-upon credits totaling approximately $3 million for Developer costs related to
relocation benefits, utility relocation and necessary infrastructure improvements required
for the project. As of April 2013, the estimated relocation cost is $875,000; however,
the City collects rental income from the tenants of the improvements on the City Parcels
which will be used to offset the relocation costs at the time the TOD Site is sold to the
Developer.
Under the Purchase Agreement, the Developer is responsible for obtaining all of the
funds for, and construction of, the TOD Project, including all TOD Project parking, the
design, plan and construction document preparation, bidding and construction of which
will be the responsibility of the Developer. Thus, the Successor Agency and the City will
realize significant cost savings if the Agency Parcels are developed with the City
Parcels since much of the proposed TOD Project-related costs will be funded by a
Developer in accordance with the terms of the Purchase Agreement. In addition, the
Developer must also obtain approval of the TOD Site’s Comprehensive Plan and any
other related entitlements and comply with all other conditions precedent to sale.
Property Value of Agency Parcels
In November 2012, the City engaged an MAI appraiser to establish the market value of
the Agency Parcels at their highest and best use. Consistent with appraisal industry
standards, the appraiser determined the value at $100 per sq. ft. or approximately
$9,485,000 for the 2.18 acre Agency Parcels. Notably, the land value assumes the TOD
Site is fully assembled for development, including the City Parcels and development
rights on the LACMTA Easement Area, with all necessary encroachments, agreements
and entitlements and is developed pursuant to allowable zoning and development
standards (Attachment No. 9).
As noted above, the proposed Purchase Agreement contemplates the Developer will
purchase the TOD Site for the Purchase Price of $23,800,000 less certain credits and
offsets. As consideration for its participation in the sale of the TOD Site, the Successor
Agency will receive a pro rata share of the Purchase Price in the approximate amount of
$8,200,000 for the Successor Agency’s use in reducing enforceable obligations and/or
remitting to taxing entities as residual proceeds in accordance with the Dissolution Act.
If, however, only the Agency Parcels are developed, the land value, in theory, would be
approximately $9,000,000 based upon the fact that the Agency Parcels encompass
94,846 sq. ft. or 39.10 percent of the TOD Site. However, the reduced site area
valuation must also reflect allowable zoning, development standards and existing
78Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
agreements which results in a net land value of approximately $800,000. The net land
value assumes a reduction in actual proceeds of $8,200,000 due to the accommodation
of 300 EXPO Station parking spaces required on-site as part of any future development
of the TOD Project Site and other related requirements described in the MOU, Option
Agreement and related Parking License Agreement with the LACMTA.
Without authorization of the sale of the Agency Parcels by the Department of Finance
pursuant to implementation of the Purchase Agreement and the associated
development of the proposed TOD Project, no entitlements will exist and no parking
rights will be permitted for development of the Agency Parcels. As described above, the
net land sales proceeds will therefore diminish and the Agency Parcels will likely remain
undeveloped since the City will not consider alternative development of the TOD Project
Site. In addition, the City’s Parking Ordinance provides the City’s City Council with final
authority over the approval of all off-site parking pursuant to Section 17.320.025 of the
City’s Zoning Code. Therefore, any future development of the Agency Parcels and its
related parking requirements would be subject to the approval of the City Council at its
sole and absolute discretion.
Alternatively, if the Agency Parcels are approved to be sold for approximately
$8,200,000 together as part of the TOD Project to the Developer in accordance with and
pursuant to the Purchase Agreement, then not only will the Successor Agency receive
greater proceeds for use in reducing enforceable obligations and/or remitting to taxing
entities as residual proceeds in accordance with the Dissolution Act, but the completed
TOD Project will generate significantly greater sales tax and property tax revenue
streams and further effectuate a policy goal of the Dissolution Act by encouraging transit
oriented development.
ATTACHMENTS
1. Parcel Identification Map.
2. Memorandum of Understanding.
3 Option Agreement for Perpetual Easement.
4. Parking License Agreement.
5. Construction License Agreement.
6. Amended and Restated EOPS.
7. Washington National PD Zone and General Plan Amendment.
8. Commitment Letter Agreement.
9. Appraisal.
79Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Wesley Parking Lot
3433 Wesley Street,
APN 4312-028-901.
The subject property located at 3433 Wesley Street, APN 4312-028-901 (the “Wesley
Property”), described in this narrative is a small remnant of property, and included and
analyzed in the Long Range Property Management Plan (the “Plan”) as “Properties to
be Sold”. Additionally, the Wesley Property may be analyzed in the Plan as “Properties
to be Used to Fulfill Enforceable Obligations”, since the Wesley Property is subject to
enforceable obligations (as discussed below).
The Successor Agency to the Culver City Redevelopment Agency (the “Successor
Agency”) proposes to sell the Wesley Property to the owner of the adjacent commercial
property pursuant to the proposed Purchase and Sale Agreement (described below).
Background
The Wesley Property is a 2,670 square foot parcel remnant and has been leased since
1955 (the “Lease”) to the owner of the adjacent commercial property located at 3431
Wesley Street, in the City of Culver City (the “City”).
Due to its small size and unusual shape, the applicable zoning restrictions and the
requirement for on-site parking, the only financially feasible, legally permissible
conforming use for the Wesley Property is as parking to serve the adjacent commercial
property located at 3431 Wesley Street or to be assembled with adjoining property for
development. On February 14, 2011, the former Redevelopment Agency approved the
sale of the Wesley Property to Mr. Jim Hull. The Successor Agency engaged a MAI
appraiser to establish the market value of the Property at its highest and best
use. Consistent with appraisal industry standards, the appraisal, dated April 30, 2013,
determined the market value for the Property to be $105,000 (Attachment No. 1).
The Successor Agency intends to sell the Wesley Property to Mr. Hull for a total
purchase price of $105,000, less any remaining credit balance for the 2001
improvements made to the Wesley Property (described below), pursuant to the
proposed Purchase and Sale Agreement, and use the sale proceeds to reduce
enforceable obligations and/or remit to taxing entities as residual proceeds in
accordance with Assembly Bill No. X1 26 and Assembly Bill No. 1484 (collectively
referred to as the “Dissolution Act”).
Certain costs related to the Wesley Property were included on the Amended and
Restated Enforceable Obligations Payment Schedule and were not objected by the
Department of Finance as listed on: Page 2, Item 17; and Page 13, Item 4. The
following items were included on the Enforceable Obligations Payment Schedule and
were not objected to by the Department of Finance: Page 2, Item 2. In addition, the
80Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
following items were included on the Draft Preliminary Recognized Obligations Payment
Schedule and were not objected to by the Department of Finance: Page 2, Items 10 and
24. Therefore, based on these approvals, the Successor Agency has continued to take
steps in furtherance of the anticipated disposition of the Wesley Property as proposed in
the Plan.
Summary of Property Ownership
The City acquired the Wesley Property in 1948 in a tax delinquency forfeiture action.
Effective March 31, 1955, the Wesley Property was leased to the owner of the adjacent
property at 3431 Wesley Street for use as parking for their newly constructed
commercial building which has no on-site parking. Mr. James Hull acquired the
property at 3431 Wesley Street in 1983 and assumed the Lease. On October 6, 1986,
the City Council declared the 1955 Lease would remain in effect for Mr. Hull’s
ownership.
In 2001, Mr. Hull performed approximately $45,000 in improvements to the Wesley
Property in exchange for a credit balance with the City in the same amount to be
applied towards Mr. Hull’s Lease payments for the use of the Wesley Property through a
monthly drawdown of the credit balance in the same amount as the monthly Lease
payment due (currently $350 per month). As of June 1, 2013, the remaining credit
balance applied to Mr. Hull’s Lease payments is $2,200.
The former Redevelopment Agency acquired the Wesley Property from the City on July
20, 2009 for $395,000 using 2002 bond proceeds. A new Lease was executed between
the Redevelopment Agency and Mr. Hull, effective August 15, 2009, stipulating monthly
rent in the amount of $350 to be deducted from Mr. Hull’s remaining credit balance for
the improvements made to the Property in 2001. The current Lease term is effective
through August 15, 2014 (Attachment No. 2).
On September 27, 2010, a 1,478 square foot portion of the Wesley Property, identified
as WE-606, was sold to the Los Angeles County Metropolitan Transportation Authority
(“LACMTA”) for $172,000 for use by the Exposition Metro Line Construction Authority
(“EXPO Authority”) to reconfigure the southern-most part of the Wesley Street cul-de-
sac to allow room for the development of a multi-use recreation path adjacent to the
EXPO light rail train alignment.
The former Redevelopment Agency transferred the Wesley Property back to the City on
March 14, 2011. However, this transfer was subsequently rescinded on September 24,
2012 by action of the City Council of the City and the Successor Agency, as the former
Redevelopment Agency’s successor-in-interest, in accordance with the Dissolution Act.
81Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Pertinent Agreements
As stated above, the Wesley Property has been leased by the City, the former
Redevelopment Agency or the Successor Agency to the owner of the adjacent
commercial property at 3431 Wesley Street since 1955. The current Lease term
expires on August 15, 2014.
On February 14, 2011, the former Redevelopment Agency approved the sale of the
Wesley Property to Mr. Hull pursuant to the proposed Purchase and Sale Agreement
referenced above. The Successor Agency intends comply with the proposed Purchase
and Sale Agreement and sell the Wesley Property to Mr. Hull, less any remaining credit
balance for the 2001 improvements made to the Property. The proposed Purchase and
Sale Agreement has not yet been executed due to the uncertainties resulting from the
Dissolution Act.
The Lease Agreement and the proposed Purchase and Sale Agreement each constitute
an “enforceable obligation” pursuant to Sections 34176(d)(5) and 34171(d)(1)(E) of the
Dissolution Act.
Zoning
The Wesley Property is zoned Industrial General (IG) pursuant to the City’s Zoning
Code. Thus, the proposed disposition of the Wesley Property to Mr. Hull for use as
parking to serve the adjacent commercial property is consistent with the City’s zoning
regulations.
Property Value
As stated above, the Successor Agency engaged a MAI appraiser to establish the
market value of the Property at its highest and best use. Consistent with appraisal
industry standards, the appraisal, dated April 30, 2013, determined the market value for
the Property to be $105,000.
ATTACHMENTS
1. Appraisal.
2. License.
82Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Baldwin Site
12803 Washington Boulevard, APN 4236-021-902.
12811 Washington Boulevard, APN 4236-021-903.
12813 Washington Boulevard, APN 4236-021-900.
12823 Washington Boulevard, APN 4236-021-901.
This narrative pertains to the four parcels identified above (the “Baldwin Site”), that is
included and analyzed in the Long Range Property Management Plan (the “Plan”) as
“Properties to be Used to Fulfill Enforceable Obligations”, since the Baldwin Site is
subject to enforceable obligations (as discussed below).
Background
On February 4, 2008, the former Redevelopment Agency approved a Disposition and
Development Agreement, as amended (the “DDA”) with AXIS MUNDI RE II, LLC, a
California limited liability company (the “Developer”) for the Developer’s purchase and
redevelopment of the Baldwin Site. (Attachment No. 1). The proposed development is
a 37,400 sq. ft. retail and office development with related surface and subterranean
parking (the “Project”). The surface parking will provide 21 public parking spaces
(beyond Code required) and will be subject to a reciprocal parking agreement for public
use. The Project is comprised of 6,250 square feet of retail and restaurant space and
31,150 square feet of office space at the second and third levels.
The Baldwin Site Parcels are located within the former Redevelopment Agency’s Area
Improvement Plan (“AIP”), which is a commercial revitalization program that includes
shop rehabilitation assistance, gap loans and public improvements, extending twelve
blocks east from the Baldwin Site. The AIP levies annual assessments on properties
within the AIP boundaries, subject to annual Consumer Price Index (“CPI”) increases
calculated to maintain a constant level of funding when factored for inflation. The
assessments are permanently attached to the properties.
The following table lists the annual assessments for the Washington-Centinela Parcels
for Fiscal Year 2013-2014:
APN District Assessment Number 2013-2014 Assessment
236-021-900 W. Washington Blvd. No. 1 35 828.94
4236-021-901 W. Washington Blvd. No. 1 36 1066.72
4236-021-902 W. Washington Blvd. No. 1 37 885.16
4236-021-903 W. Washington Blvd. No. 1 38 828.94
TOTAL $3609.76
83Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
In accordance with the DDA and upon the Developer’s satisfaction of certain conditions
precedent, the Successor Agency intends to sell the Baldwin Site to the Developer for a
total purchase price of $3.2 million for the development of the Project. The Successor
Agency further intends on using the sale proceeds to reduce enforceable obligations
and/or remit to taxing entities as residual proceeds in accordance with Assembly Bill No.
X1 26 and Assembly Bill No. 1484 (collectively referred to as the “Dissolution Act”).
The DDA and certain costs related to the Baldwin Site were included on the Amended
and Restated Enforceable Obligations Payment Schedule and were not objected by the
Department of Finance as listed on: Page 3, Item 2; and Page 6, Items 10 and 11. The
following items were included on the Enforceable Obligations Payment Schedule and
were not objected to by the Department of Finance: Page 2, Item 10; and Page 3, Items
5 and 6. In addition, the following items were included on the Draft Preliminary
Recognized Obligations Payment Schedule and were not objected to by the Department
of Finance: Page 2, Items 10 and 27; and Page 3, Item 5. Therefore, based on these
approvals, the Successor Agency has continued to take steps to comply with its
obligations with respect to the Baldwin Site pursuant to the DDA and the anticipated
disposition of the Baldwin Site pursuant to the DDA, an enforceable obligation under the
Dissolution Act, as proposed in the Plan.
Summary of Property Ownership
The Baldwin Site parcels were acquired between March 2005 and January 2006 for
$3.61 million using tax increment. The former Redevelopment Agency transferred the
Baldwin Site to the City on March 14, 2011 in order to effectuate the Project. However,
this transfer was subsequently rescinded on September 24, 2012 by action of the City
Council of the City and the Successor Agency, as the former Redevelopment Agency’s
successor-in-interest, in accordance with the Dissolution Act.
Zoning
The Baldwin Site is zoned Commercial General (CG) pursuant to the City’s Zoning
Code. Thus, the proposed disposition of the Baldwin Site to the Developer for
development of the Project pursuant to the DDA is consistent with the City’s zoning
regulations.
Pertinent Agreements
As stated above, the former Redevelopment Agency and the Developer entered into the
DDA on February 4, 2008, as amended. The DDA constitutes an “enforceable
obligation” of the Successor Agency pursuant to Sections 34167(d)(5) and 34171(d)(E)
of the Dissolution Act.
84Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
The economic downturn that began in the fall of 2008 resulted in the Developer’s
inability to secure financing from conventional lenders. Certain time extensions for
development of the Project were granted to the Developer, as permitted under the DDA.
Since then, the Developer has obtained replacement funding and is ready to develop
the Project.
The total construction costs to be incurred by the Developer for development of the
Project pursuant to the DDA are estimated at $20,500,000.
In light of the continuing obligations on the Successor Agency to sell the Baldwin Site to
the Developer for development of the Project in accordance with the DDA, the
Successor Agency intends on continuing to comply with its obligations pursuant to the
DDA and sell the Baldwin Site to the Developer for a purchase price of $3,200,000,
pursuant to the DDA.
The Project will generate land sales proceeds and an ongoing sales and property tax
revenues to the taxing entities. Further the Project is of benefit to the community
because it will provide needed public parking and eliminate a vacant and blighted
property consistent with the Redevelopment Plan and community goals.
Property Value
The Successor Agency engaged a MAI appraiser to establish the market value of the
Baldwin Site Property at its highest and best use. Consistent with appraisal industry
standards, the appraisal, dated April 30, 2013, determined that the market value for the
Baldwin Site Property is $2,885,000. The Baldwin Site will be conveyed to the
Developer for $3,200,000, reflecting the appraised land sales price plus the estimated
future revenue for the non-code required public parking included in the Project at an
estimated value of $15,000 per stall.
If the Baldwin Site is not sold to the Developer pursuant to the DDA and to the existing
entitlements, then the value of the Baldwin Site will decrease. Any proposed new project
will be subject to a new entitlement process with new more restrictive development
conditions and mitigation measures (offsite and traffic improvements) as consequence
of recent building activity in the area.
ATTACHMENT
1. DDA.
85Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Kirk Douglas Theatre
9820 Washington Boulevard,
APN 4207-006-914.
This narrative pertains to one parcel located at 9820 Washington Blvd., APN 4207-006-
914 (the “KDT Property”), that is included and analyzed in the Long Range Property
Management Plan (the “Plan”) as “Properties to be Used to Fulfill Enforceable
Obligations”, since the KDT Property is subject to enforceable obligations (as discussed
below).
Background
The Kirk Douglas Theatre (“KDT”) formerly the Culver Theater, exists on the KDT
Property and has been successfully operating as a live theater for over twelve years.
The Successor Agency to the Culver City Redevelopment Agency (the “Successor
Agency”) intends to use this property to fulfill an “enforceable obligation”, by allowing the
KDT Property to continue to be leased to the Center Theatre Group (“CTG”) as required
pursuant to that certain Lease Agreement entered into by and between the former
Redevelopment Agency and CTG, pursuant to the DDA (defined below), and dated on
or about September 4, 2003 (the “CTG Lease Agreement”) (Attachment No. 1).
The DDA and the CTG Lease Agreement pertain to both the KDT Property and the
parcel immediately adjacent to the KDT Property, located at 9814 Washington Blvd.,
APN 4207-006-915, referred to herein as the “Jazz Bakery Property”, and which is
analyzed separately in the Plan under “Properties to Be Sold”.
Certain costs related to the KDT Property and the CTG Lease Agreement were included
on the Amended and Restated Enforceable Obligations Payment Schedule and were
not objected to by the Department of Finance as listed on: Page 13, Items 3. The
following items were included on the Enforceable Obligations Payment Schedule and
were not objected to by the Department of Finance: Page 2, Item 10; and Page 3, Item
5. In addition, the following items were included on the Draft Preliminary Recognized
Obligations Payment Schedule and were not objected to by the Department of Finance:
Page 2, Items 10 and 27. Therefore, based on these approvals, the Successor Agency
has continued to take steps to comply with its obligations with respect to the use of the
KDT Property pursuant to the CTG Lease Agreement, an enforceable obligation under
the Dissolution Act, as proposed in the Plan.
Summary of Property Ownership
The former Redevelopment Agency acquired the KDT Property on May 5, 1985 for
$1,593,771 with tax allocation bond proceeds. The former Redevelopment Agency
86Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
transferred the KDT Property to the City of Culver City (the “City”) on March 14,
2011. However, this transfer was subsequently rescinded on September 24, 2012 by
action of the City Council of the City and the Successor Agency, as the former
Redevelopment Agency’s successor-in-interest, in accordance with Assembly Bill No.
X1 26 and Assembly Bill No. 1484 (collectively referred to as the “Dissolution Act”).
Zoning
The KDT Property is zoned Commercial Downtown (CD) pursuant to the City’s Zoning
Code. Thus, the continued use of the KDT Property for the operation of the KDT is
consistent with the City’s zoning regulations.
Pertinent Agreements
The former Redevelopment Agency and CTG entered into that certain Disposition and
Development Agreement dated October 9, 2001, as amended (the “DDA”). (Attachment
No. 2.) Pursuant to the DDA, the former Redevelopment Agency and CTG entered into
the CTG Lease Agreement (defined above).
The DDA and the CTG Lease Agreement were entered into for the purposes of the
former Redevelopment Agency (i) leasing the KDT Property to CTG for CTG to
renovate and occupy the former Culver Theater, now Kirk Douglas Theatre (defined
above as “KDT”) on the KDT Property currently used to produce plays and shows, and
(ii) leasing the Jazz Bakery Property immediately adjacent to the KDT Property, for
CTG’s rehabilitation for KDT’s use as loading and unloading facilities and as a craft
service area for the construction of props and scenery and for the installation of
electrical equipment HVAC equipment and trash facilities to serve the KDT Property,
while allowing for the anticipated permanent redevelopment of the Jazz Bakery Property
provided that the utility loading facilities and craft service area serving the KDT Property
are preserved and included in such redevelopment and recorded as an ongoing
obligation against the Jazz Bakery Property.
Pursuant to the CTG Lease Agreement, the initial lease term (i) for the KDT Property is
60 years with a total of 10 years of extension options and (ii) for the Jazz Bakery
Property is 10 years with extension options up to the lease term for the KDT Property.
Further, pursuant to the DDA and CTG Lease Agreement, CTG pays $1.00 annual rent
to the former Redevelopment Agency (now the Successor Agency) for the lease of both
the KDT Property and the Jazz Bakery Property.
In light of the continuing obligations on the Successor Agency to lease the KDT
Property to CTG for the purposes set forth in the DDA and the CTG Lease Agreement
for several years, the Successor Agency intends on continuing to comply with its
obligations pursuant to the DDA and the CTG Lease Agreement, both of which
87Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
constitute “enforceable obligations” under Sections 34167(d)(5) and 34171(d)(1)(E) of
the Dissolution Act.
Property Value
The Property is subject to the DDA and the CTG Lease Agreement, which obligates the
Successor Agency to continue to lease the Property to CTG for a period of 60 years
with a total of 10 years of extension options, to be used exclusively for a theater. The
DDA and the CTG Lease Agreement prohibit any alternate use of the KDT Property.
Pursuant to the DDA and the CTG Lease Agreement, the KDT Property generates no
net revenue to the Successor Agency.
ATTACHMENTS
1. CTG Lease Agreement.
2. DDA.
88Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Ivy Substation Lease
9070 Venice Boulevard,
APN 4206-034-906.
This narrative pertains to the leasehold interest in the parcel identified above (the
leasehold interest is defined below as the “Ivy Substation Lease”), that is included and
analyzed in the Long Range Property Management Plan (the “Plan”) as “Properties to
be Used to Fulfill Enforceable Obligations”, since the Ivy Substation Lease constitutes
an enforceable obligation (as discussed below).
Background
The Successor Agency to the Culver City Redevelopment Agency (the “Successor
Agency”) owns a leasehold interest in the property located at 9070 Venice Blvd., APN
4206-034-906, in the City of Los Angeles, pursuant to that certain Lease entered into by
and between the former Redevelopment Agency and the City of Los Angeles and dated
June 8, 1987 (the “Ivy Substation Lease”) (Attachment No. 1).
The Ivy Substation Lease constitutes an “enforceable obligation” pursuant to Sections
34167(d)(5) and 34171(d)(1)(E) of Assembly Bill No. X1 26 and Assembly Bill No. 1484
(collectively referred to as the “Dissolution Act”).
The subject property is 19,578 square feet (0.45 acres) and located within the grounds
of Media Park at the intersection of Venice Blvd. and Culver Blvd., and adjacent to the
Culver City Redevelopment Project Area. Located on the subject property is the Ivy
Substation building which is a structure listed on the National Register of Historic Places
and is also listed as a Historic-Cultural Monument by the City of Los Angeles.
The purpose of the Ivy Substation Lease is for the former Redevelopment Agency’s
(and now Successor Agency’s) (i) improvement and use of the subject property for local
public park and recreational purposes, (ii) use and preservation, restoration and
renovation of the Ivy Substation building located on the subject property and
surrounding land, and (iii) operation, maintenance and use of the subject property and
Ivy Substation building for the benefit and enjoyment of members of the public for park
and recreational purposes including incidental commercial business subject to a
sublease or license agreement. The Ivy Substation building is currently used as a live
performance theatre venue.
Pursuant to the Ivy Substation Lease, the lease term is forty (40) years with a ten (10)
year option to extend. Further, pursuant to the Ivy Substation Lease, no lease
payments are made to the City of Los Angeles for the leasehold and no profit is allowed
to be made by the Successor Agency for its use and operation of the Ivy Substation
Lease. In this regard, any net profit made through the receipt of fees and/or rent arising
89Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
from the operation of the property and Ivy Substation building shall be used for the
maintenance, operation and capital expenditures.
The Successor Agency’s management of the subject property and the Ivy Substation
building serves to eradicate blight and create a downtown Culver City destination for
theatre and restaurant patrons. The Ivy Substation Lease is an essential element of
economic development of downtown Culver City. Therefore, in accordance with the Ivy
Substation Lease, the Successor Agency intends to continue exercising its rights and
performing its obligations under the Ivy Substation Lease for the lease term.
Certain costs related to the Ivy Substation Lease were included on the Amended and
Restated Enforceable Obligations Payment Schedule and were not objected to by the
Department of Finance as listed on: Page 10, Item 15; Page 11, Item 1; and Page 13,
Items 1 and 25. The following items were included on the Enforceable Obligations
Payment Schedule and were not objected by the Department of Finance: Page 2, Item
10; and Page 3, Items 5 and 6. In addition, the following items were included on the
Draft Preliminary Recognized Obligations Payment Schedule and were not objected to
by the Department of Finance: Page 2, Items 10 and 27; and Page 3, Item 5.
Therefore, based on these approvals, the Successor Agency has continued to take
steps to comply with its obligations pursuant to the Ivy Substation Lease, an
enforceable obligation under the Dissolution Act, as proposed in the Plan.
Summary of Property Ownership
The former Redevelopment Agency assumed control of the Ivy Substation Lease on
June 8, 1987. The former Redevelopment Agency transferred the Ivy Substation Lease
to the City on March 14, 2011 in order to effectuate its obligations. However, this
transfer was subsequently rescinded on September 24, 2012 by action of the City
Council of the City and the Successor Agency, as the former Redevelopment Agency’s
successor-in-interest, in accordance with the Dissolution Act.
Zoning
The subject property is zoned by the City of Los Angeles as Open Space OS-1XL.
Pertinent Agreements
Pursuant to the Ivy Substation Lease, the former Redevelopment Agency and The
Actor’s Gang Theatre, a California non-profit corporation (the “Licensee”) entered into a
License Agreement on July 5, 2005 (the “License”) for Licensee’s use of the subject
property and the Ivy Substation building as a venue for staging live theatrical
productions. The License was superseded by a new License effective July 1, 2010,
90Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
which stipulates rent of $1 per year for a one-year term, plus five one-year extensions at
the option of the Licensee (option to extend through June 30, 2016) (Attachment No. 2).
Lease Value
The Ivy Substation Lease or any of its subleases or licenses generates no net income to
the Successor Agency. The Ivy Substation Lease requires that all net revenues for the
leasing, sub-leasing, license and rental of the subject property and the Ivy Substation
building be used solely for the maintenance and improvement of the subject property
and improvements thereon.
The subject property is a remnant of the construction of a public street, and was
acquired and constructed by the City of Los Angeles using fuel tax revenue. Therefore,
the funding method requires that all net revenues for the leasing, sub-leasing, license
and rental of the subject property be used solely for the maintenance and improvement
of the subject property for purposes of leisure and recreation activities.
ATTACHMENTS
1. Lease with City of Los Angeles.
2. License with Actors’ Gang.
91Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Media Park Lease
9254 Venice Boulevard,
APN 4206-030-902 and Portion of APN4206-034-906.
This narrative pertains to the leasehold interest in the parcel identified above (the
leasehold interest is defined below as the “Metro Park Lease”), that is included and
analyzed in the Long Range Property Management Plan (the “Plan”) as “Properties to
be Used to Fulfill Enforceable Obligations”, since the Media Park Lease constitutes an
enforceable obligation (as discussed below).
Background
The Successor Agency to the Culver City Redevelopment Agency (the “Successor
Agency”) owns a leasehold interest in the property located at 9254 Venice Blvd., APN
4206-030-902, and a portion of APN 4206-034-906, in the City of Los Angeles, pursuant
to that certain Lease entered into by and between the former Redevelopment Agency
and the City of Los Angeles and dated June 12, 1987 (the “Media Park Lease”)
(Attachment No. 1).
The Media Park Lease constitutes an “enforceable obligation” pursuant to Sections
34167(d)(5) and 34171(d)(1)(E) of Assembly Bill No. X1 26 and Assembly Bill No. 1484
(collectively referred to as the “Dissolution Act”).
The subject property is a dedicated public park known as “Media Park” constituting
47,207 square feet (1.08 acres), located at the intersection of Venice Blvd., Culver Blvd.
and Canfield Ave., and adjacent to the Culver City Redevelopment Project Area.
Certain park-related improvements exist on the subject property.
The purpose of the Media Park Lease is for the former Redevelopment Agency’s (and
now Successor Agency’s) improvement and use of the subject property for local public
park and recreational purposes. The Media Park Lease also contemplates that the
subject property and improvements thereon will be improved and maintained by the
Successor Agency in harmony with the Ivy Substation Lease (discussed separately in
the Plan) of property adjacent to Media Park.
Pursuant to the Media Park Lease, the lease term is forty (40) years with a ten (10) year
option to extend. Further, pursuant to the Media Park Lease, no lease payments are
made to the City of Los Angeles for the leasehold and no profit is allowed to be made by
the Successor Agency for its use and operation of the Media Park Lease. In this
regard, any net profit made through the operation of the subject property shall be used
for the maintenance, operation and capital expenditures.
92Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
The Successor Agency’s management of the subject property serves to eradicate blight
and create a downtown Culver City open space destination for recreation and leisure
activities. The Media Park Lease is an essential element of economic development of
downtown Culver City. Therefore, in accordance with the Media Park Lease, the
Successor Agency intends to continue exercising its rights and performing its
obligations under the Media Park Lease for the lease term.
Certain costs related to the Media Park Lease were included on the Amended and
Restated Enforceable Obligations Payment Schedule and were not objected by the
Department of Finance as listed on: Page 10, Item 10; Page 11, Item 2; Page 13, Items
7 and 24; and Page 14, Item 10. The following items were included on the Enforceable
Obligations Payment Schedule and were not objected to by the Department of Finance:
Page 2, Item 10; and Page 2, Items 5 and 6. In addition, the following items were
included on the Draft Preliminary Recognized Obligations Payment Schedule by the
former RDA and were not objected to by the Department of Finance: Page 2, Items 10
and 27; and Page 3, Item 5. Therefore, based on these approvals, the Successor
Agency has continued to comply with its obligations pursuant to the Media Park Lease,
an enforceable obligation under the Dissolution Act, as proposed in the Plan.
Summary of Property Ownership
The former Redevelopment Agency assumed control of the Media Park Lease on June
12, 1987. The former Redevelopment Agency transferred the Media Park Lease to the
City on March 14, 2011 in order to effectuate its obligations. However, this transfer was
subsequently rescinded on September 24, 2012 by action of the City Council of the City
and the Successor Agency, as the former Redevelopment Agency’s successor-in-
interest, in accordance with the Dissolution Act.
Zoning
The subject property is zoned by the City of Los Angeles as Open Space OS-1XL and
partly zoned Commercial C2-1.
Lease Value
The Media Park Lease generates no net income to the Successor Agency. The Lease
requires that all net revenues from the operation of Media Park be used solely for the
maintenance and improvement of the subject property and improvements thereon.
The subject property is a remnant of the construction of Venice Blvd. as State Highway
No. 187, and was acquired and constructed by the City of Los Angeles using fuel tax
revenue. Therefore, the funding method requires that all net revenues for the operation
93Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
of the subject property be used solely for the maintenance and improvement of the
subject property for purposes of leisure and recreation activities.
ATTACHMENT
1. Lease with City of Los Angeles.
94Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
I. Properties to be Retained for Governmental Use
A. Parking Structures:
1. 9099 Washington Boulevard.
(Ince Parking Structure)
APN 4206-029-932.
2. 3846 Cardiff Avenue.
(Cardiff Parking Structure)
APN 4206-028-900,
4206-028-901.
3. 3844 Watseka Avenue,
3848 Watseka Avenue,
3864 Watseka Avenue.
(Watseka Parking Structure)
APN 4207-001-900,
4207-001-901,
4207-001-902,
4207-001-903,
4207-001-904.
B. Parking Lots:
4. 10401 Virginia Avenue,
10555 Virginia Avenue,
10601 Virginia Avenue.
(Virginia Parking Lot)
APN 4209-027-905,
4209-029-900,
4209-029-923,
4209-029-924,
4209-029-925.
95Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
5. 9415 Venice Boulevard,
9425 Venice Boulevard.
(Venice Parking Lot)
APN 4313-019-900,
4313-019-901,
4313-019-902,
4313-019-903.
6. 3713 Robertson Boulevard,
3715 Robertson Boulevard.
(Robertson Parking Lot #1)
APN 4206-033-917,
4206-033-936.
7. 3727 Robertson Boulevard.
(Robertson Parking Lot #2)
APN 4206-033-925.
8. 3757 Robertson Boulevard.
(Robertson Parking Lot #3)
APN 4206-033-932,
4206-033-934,
4206-033-935.
9. 12601 Washington Boulevard.
(Washington Parking Lot)
APN 4231-019-901.
10. 3825 Canfield Avenue.
(Canfield Parking Lot)
APN 4206-030-901.
C. Town Plaza Expansion / Combined-Hudson Project:
11. 9300 Culver Boulevard, Parcel 2.
(Town Plaza Expansion / Combined-Hudson Project)
APN 4206-029-935.
96Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
D. Washington-Centinela / Regency Project:
12. 12403 Washington Boulevard,
12413 Washington Boulevard,
12421 Washington Boulevard,
12423 Washington Boulevard,
4061 Centinela Avenue,
4063 Centinela Avenue.
(Site A)
APN 4231-002-901,
4231-002-902,
4231-002-903,
4231-002-904,
4231-002-905,
4231-002-906,
4231-002-907,
4231-002-909.
13. 4064 Colonial Avenue.
(Site A)
APN 4231-002-900,
4231-002-908.
E. Property Remnants and Undevelopable Parcels:
14. La Ballona Creek Parcel One.
APN 4205-005-908.
15. La Ballona Creek Parcel Two.
APN 4209-030-901,
4209-030-902.
97Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 9099 Washington Boulevard, Culver City, CA 90232.
Name: Ince Parking Structure.
Parcel Data: APN 4206-029-932.
Lot Size: 51,640 s.f., 1.19 acres.
Current Zoning: Public Parking Facility (PPF).
Date of Acquisition: Purchased and assembled from 1979 through 1985.
Value at Acquisition: $3,650,000. The property was purchased and developed using
tax exempt bond proceeds. The bonds will be repaid in 2025.
Estimated Current Value: $0.
Appraised: No.
Purpose of Acquisition: Public parking – 801 spaces on 5 levels.
Intended Use or Disposition: Governmental Purpose – The Successor Agency
intends to transfer this property to the Culver City Parking Authority.
Enforceable Obligation: Yes. Certain costs related to this property were included on
the Amended and Restated Enforceable Obligations Payment Schedule, Page 1, Item
11; and Page 10, Items 1, 4, 12 and 13, 17 through 23, 25, and 28 through 32. The
following items were included on the Enforceable Obligations Payment Schedule by the
former RDA and were not objected to by the Department of Finance: Page 1, Item 12;
Page 2, Items 10 and 11; and Page 3, Item 13. In addition, the following items were
included on the Draft Preliminary Recognized Obligations Payment Schedule by the
former RDA and were not objected to by the Department of Finance: Page 1, Item 12;
Page 2, Items 2, 11 and 27; and Page 3, Item 13.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: This property is
used to satisfy the parking requirements of businesses in the surrounding commercial
area as most of the properties were developed without onsite parking. Until this parking
98Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
structure was created, many of the surrounding commercial properties could not be
leased and their vacant condition created a blighting influence on the community.
Contractual Agreements for Use: Monthly and long-term parking agreements exist
with those using the property. Additionally, approximately 317 spaces within the
structure will be used to satisfy the parking requirement of the commercial development
project located at 9300 Culver Boulevard (Parcel B); approximately 60 spaces are
limited to 45 minute use for short-term parking; 20 spaces are reserved for Trader Joe’s
employees and three spaces are utilized by Trader Joe’s for storage; seven spaces are
reserved for K-ZO restaurant; 36 spaces are reserved for use by the Culver Hotel; 62
spaces are reserved for OliverMcMillan tenant employees; and 250 spaces are
reserved for Metro light rail transit patrons when the Washington-National transit-
oriented-development (TOD) project is developed. The parking structure is included in
the 1,250 parking space requirement in the OliverMcMillan DDA.
Rentals or Leases: Monthly parking agreements exist with those using the property.
Gross Revenues Generated: $471,644.
Net Revenue: $0.
Revenue Disposition: $487,862 operations and maintenance; $216,460 deferred
maintenance; $280,350 to sinking fund (calculated at $1 per square foot per year).
Deferred maintenance required as of May 1, 2013:
1. Paint all interior walls and elevator doors - $ 28,710
2. Replace parking control equipment at $150 per space - $120,000
3. Replace lighting as necessary at $6.25 per space - $ 5,000
4. Restripe lower floor to improve ingress/egress - $ 8,000
5. Replace lighting system - $ 32,750
6. Replace grease interceptor - $ 2,000
7. Replace sump pump on lower level - $ 1,500
8. Replace Carbon Monoxide monitoring system - $ 7,000
9. Install security system on upper level - $ 7,000
10. Install exterior protection for Fan Room on upper level - $ 2,000
11. Install protection for fire sprinkler risers - $ 2,500
Total $216,460
History of Previous Development Proposals: None.
Previous Development Activity: Commercial structures.
99Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Environmental Contamination: None.
Brownfield Site: No.
Environmental Studies: Phase One and Phase Two performed in 1996.
Remediation Efforts: Soil removal and subsurface remediation was performed
culminating in a Closure Letter issued by the Los Angeles County Department of Public
Works in 1996.
100INCE PARKING STRUCTURE
4206-029-932
CULVER BLVD. CULVER BLVD.
WASHINGTON BLVD. WASHINGTON BLVD.
INCE BLVD. INCE BLVD.
101102 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 3846 Cardiff Avenue, Culver City, CA 90232.
Name: Cardiff Parking Structure.
Parcel Data: APN 4206-028-900,
4206-028-901.
Lot Size: 36,417 s.f., 0.84 acres.
Current Zoning: Public Parking Facility (PPF).
Date of Acquisition: 4206-028-900: May 22, 1973,
4206-028-901: May 22, 1973.
Value at Acquisition: 4206-028-900 was acquired in 1973 for $127,750;
4206-028-901 was acquired in 1973 for $36,600;
$164,350 total.
Estimated Current Value: $0.
Appraised: No.
Purpose of Acquisition: Public parking – 397 spaces on 4 levels.
Intended Use or Disposition: Governmental Purpose – Owned by Culver City Parking
Authority; to be retained by Parking Authority for governmental purpose.
Enforceable Obligation: Yes. Certain costs related to this property were included on
the Amended and Restated Enforceable Obligations Payment Schedule, Page 1, Item
11; Page 10, Items 1, 4, 12 and 13, 17 through 23, 25, and 28 through 32. The
following items were included on the Enforceable Obligations Payment Schedule by the
former RDA and were not objected to by the Department of Finance: Page 1, Item 12;
Page 2, Items 10 and 11; and Page 3, Item 13. In addition, the following items were
included on the Draft Preliminary Recognized Obligations Payment Schedule by the
former RDA and were not objected to by the Department of Finance: Page 1, Item 12;
Page 2, Items 2, 11 and 27; and Page 3, Item 13.
Potential for Transit-Oriented Development: No.
103Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Potential to Advance Planning Objectives of Successor Agency: This property is
owned by the Culver City Parking Authority and is used to satisfy the parking
requirements of businesses in the surrounding commercial area as most of the
properties were developed without onsite parking. The parking was created because
many of the properties could not be leased and their vacant condition was creating a
blighting influence on the community.
Contractual Agreements for Use: Monthly and long-term parking agreements exist
with businesses and employees using the property to satisfy their parking
requirements for downtown businesses. Additionally, a portion of the land beneath
the structure is owned by Bank of America (BofA) and the remainder is owned by the
Culver City Parking Authority. An agreement exists that stipulates BofA’s rights in
regard to parking and revenue sharing. Contractual encumbrance exists for access
to on-site community trash facility approved under Permit No. 047904 for the
following businesses:
1. Ugo, an Italian Café, 3865 Cardiff Ave.,
2. Bank of America, 9453 Culver Blvd.,
3. Tender Greens, 9523 Culver Blvd.,
4. Ford’s Filling Station, 9531 Culver Blvd.,
5. Honey’s Kettle Fried Chicken, 9537 Culver Blvd.
Rentals or Leases: Monthly parking agreements exist with those using the property.
BofA is provided 24 spaces. Additional spaces are contractually obligated to be made
available to OliverMcMillan pursuant to their DDA.
Gross Revenues Generated: $231,862.
Net Revenue: $0.
Revenue Disposition: $184,326 operations and maintenance; $162,790 deferred
maintenance; $138,950 to sinking fund (calculated at $1 per square foot per year).
Deferred maintenance required as of May 1, 2013:
1. Paint all interior walls and elevator doors - $25,590
2. Replace parking control equipment at $150 per space - $60,000
3. Replace lighting as necessary at $6.25 per space - $ 2,500
4. Restripe entry area to improve ingress/egress - $ 3,000
5. Repair attendant booth to prevent water intrusion - $ 5,000
6. Repair crack in structural column - $ 4,000
7. Repair deterioration of steel stairs in all stairwells - $18,000
8. Repair bollards near stairwells and nesting area access - $15,000
9. Repair damage to bathroom caused by rodents - $ 6,500
104Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
10. Replace sealant at around the perimeter of the structure - $12,000
11. Replace sump pump on lower level - $ 1,500
12. Install tamper proof hose bibs - $ 1,200
13. Install security system on upper level - $ 7,000
14. Install protection for fire sprinkler risers - $ 1,500
Total $162,790
History of Previous Development Proposals: None.
Previous Development Activity: None.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: No studies have been performed.
Remediation Efforts: Not applicable.
105CARDIFF PARKING STRUCTURE
4206-028-9003
4206-028-901
4206-028-005
CULVER BLVD.
VENICE BLVD.
CARDIFF AVE.
106107 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 3844-3448 Watseka Avenue,
3864 Watseka Avenue, Culver City, CA 90232.
Name: Watseka Parking Structure.
Parcel Data: APN 4207-001-900,
4207-001-901,
4207-001-902,
4207-001-903,
4207-001-904.
Lot Size: 22,478 s.f., 0.52 acres.
Current Zoning: Public Parking Facility (PPF).
Date of Acquisition: 4207-001-900: May 11, 1984,
4207-001-901: March 14, 1986,
4207-001-902: March 14, 1986,
4207-001-903: March 22, 1989,
4207-001-904: February 14, 1997.
Value at Acquisition: 4207-001-900,
4207-001-901,
4207-001-902,
and 4207-001-903: $297,138;
4207-001-904: $78,894.
$376,032 total.
Estimated Current Value: $0.
Appraised: No.
Purpose of Acquisition: Public parking – 330 spaces on 5 levels.
Intended Use or Disposition: Governmental Purpose – The Successor Agency
intends to transfer this property to the Culver City Parking Authority.
Enforceable Obligation: Yes. Certain costs related to this property were included on
the Amended and Restated Enforceable Obligations Payment Schedule, Page 1, Item
11; Page 10, Items 2, 5, 11, 14, 16, 18, 19 21 through 24, 26, 27, and 29 through 32.
108Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
The following items were included on the Enforceable Obligations Payment Schedule by
the former RDA and were not objected to by the Department of Finance: Page 1, Item
12; Page 2, Items 10 and 11; and Page 3, Item 13. In addition, the following items were
included on the Draft Preliminary Recognized Obligations Payment Schedule by the
former RDA and were not objected to by the Department of Finance: Page 1, Item 12;
Page 2, Items 2, 11 and 27; and Page 3, Item 13.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: This property is
used to satisfy the parking requirements of businesses in the surrounding commercial
area, including the community’s hospital, as most of the properties were developed
without onsite parking. The parking was created because many of the properties could
not be leased and their vacant condition was creating a blighting influence on the
community.
Contractual Agreements for Use: Monthly parking agreements exist with those using
the property. Contractual encumbrance exists for access to on-site community
recycling facility approved under Permit No. 26713 for the following businesses:
1. Tender Greens, 9523 Culver Blvd.,
2. Ford’s Filling Station, 9531 Culver Blvd.
Rentals or Leases: Monthly parking agreements exist with those using the property,
including 97 spaces assigned to a community hospital and spaces that are to be
available pursuance to the OliverMcMillan DDA.
Gross Revenues Generated: $388,562.
Net Revenue: $0.
Revenue Disposition: $162,390 operations and maintenance; $106,915 deferred
maintenance; $115,500 sinking fund (calculated at $1 per square foot per year).
Deferred maintenance required as of May 1, 2013:
1. Paint all interior walls and elevator doors - $ 26,715
2. Replace parking control equipment at $150 per space - $ 49,500
3. Replace lighting as necessary at $6.25 per space - $ 2,500
4. Anchor wheel stops - $ 27,000
5. Install tamper proof hose bibs - $ 1,200
Total $106,915
109Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
History of Previous Development Proposals: None.
Previous Development Activity: None.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: No studies have been performed.
Remediation Efforts: Not applicable.
110CULVER BLVD. CULVER BLVD.
VENICE BLVD. VENICE BLVD.
WATSEKA AVE. WATSEKA AVE.
WATSEKA PARKING STRUCTURE
4207-001-900
4207-001-901
4207-001-902
4207-001-903
4207-001-904
111112 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 10401 Virginia Avenue,
10555 Virginia Avenue,
10601 Virginia Avenue, Culver City, CA 90232.
Name: Virginia Parking Lot.
Parcel Data: APN 4209-027-905,
4209-029-900,
4209-029-923,
4209-029-924,
4209-029-925.
Lot Size: 50,038 s.f., 1.15 acres.
Current Zoning: Public Parking Facility (PPF).
Date of Acquisition: 4209-027-905: August 5, 1980,
4209-029-900: April 16, 1982,
4209-029-923: February 25, 1981,
4209-029-924: January 6, 1981,
4209-029-925: September 29, 1978.
Value of Property at time of Acquisition: $536,657.
Estimated Current Value: $0.
Appraised: No.
Purpose of Acquisition: Public parking – 136 spaces on surface lot.
Intended Use or Disposition: Governmental Purpose – The Successor Agency
intends to transfer this property to the Culver City Parking Authority.
Enforceable Obligation: Yes. Certain costs related to this property were included on
the Amended and Restated Enforceable Obligations Payment Schedule, Page 10,
Items 7, 18 through 23, and 29 through 32. The following items were included on the
Enforceable Obligations Payment Schedule by the former RDA and were not objected
to by the Department of Finance: Page 2, Item 10; and Page 3, Items 5 and 14. In
addition, the following items were included on the Draft Preliminary Recognized
113Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Obligations Payment Schedule by the former RDA and were not objected to by the
Department of Finance: Page 2, Items 10 and 27; and Page 3, Item 14.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: This property is
used to satisfy the parking requirements of businesses in the surrounding commercial
area as most of the properties were developed without onsite parking or the parking that
exists is insufficient. The parking was created because many of the properties could not
be leased and their vacant condition was creating a blighting influence on the
community.
Contractual Agreements for Use: Monthly parking agreements exist with those using
the property. An existing agreement with Sherlind Properties reserves 36 spaces for
their exclusive use until 2026.
Rentals or Leases: Monthly parking agreements exist with those using the property.
Gross Revenues Generated: $160,560.
Net Revenue: $0.
Revenue Disposition: $53,680 operations and maintenance; $64,600 deferred
maintenance; $47,600 to sinking fund (calculated at $1 per square foot per year).
Deferred maintenance required as of May 1, 2013:
1. Re-slurry and restripe at $475 per space - $64,600.
History of Previous Development Proposals: None.
Previous Development Activity: Light Manufacturing.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: No studies have been performed.
Remediation Efforts: Not applicable.
114VIRGINIA PARKING LOT
4209-027-905
4209-029-900
4209-029-923
4209-029-924
4209-029-925
VIRGINIA AVE. VIRGINIA AVE.
OVERLAND AVE. OVERLAND AVE.
115116 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 9415 Venice Boulevard,
9425 Venice Boulevard, Los Angeles, CA 90034.
Name: Venice Parking Lot.
Parcel Data: APN 4313-019-900,
4313-019-901,
4313-019-902,
4313-019-903.
Lot Size: 12,500 s.f., 0.29 acres.
Current Zoning: This property is in the City of Los Angeles. Zoned C2-1.
Date of Acquisition: 4313-019-900: October 1, 1997,
4313-019-901: October 1, 1997,
4313-019-902: October 1, 1997,
4313-019-903: October 1, 1997.
Value of Property at time of Acquisition: $551,900.
Estimated Current Value: $0.
Appraised: No.
Purpose of Acquisition: Public parking – 30 spaces on surface lot.
Intended Use or Disposition: Governmental Purpose – The Successor Agency
intends to transfer this property to the Culver City Parking Authority.
Enforceable Obligation: Yes. Certain costs related to this property were included on
the Amended and Restated Enforceable Obligations Payment Schedule, Page 10,
Items 18, 19, 21 through 23, and 29 through 32. The following items were included on
the Enforceable Obligations Payment Schedule by the former RDA and were not
objected to by the Department of Finance: Page 2, Item 10; and Page 3, Items 5 and
14. In addition, the following items were included on the Draft Preliminary Recognized
Obligations Payment Schedule by the former RDA and were not objected to by the
Department of Finance: Page 2, Items 10 and 27; and Page 3, Item 13.
Potential for Transit-Oriented Development: No.
117Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Potential to Advance Planning Objectives of Successor Agency: This property is
used to satisfy the parking requirements of businesses in the surrounding commercial
area as most of the properties were developed without onsite parking. The parking was
created because many of the properties could not be leased and their vacant condition
was creating a blighting influence on the community.
Contractual Agreements for Use: Monthly parking agreements exist with those using
the property.
Rentals or Leases: Monthly parking agreements exist primarily with those using the
property.
Gross Revenues Generated: $14,400.
Net Revenue: $0.
Revenue Disposition: $1,960 operations and maintenance; $20,000 deferred
maintenance; $10,500 to sinking fund (calculated at $1 per square foot per year).
Deferred maintenance required as of May 1, 2013:
1. Re-slurry and restripe at $475 per space - $14,700
2. Install necessary signage - $ 2,000
3. Install permanent fencing between street and parking area - $ 3,000
Total $20,000
History of Previous Development Proposals: None.
Previous Development Activity: None.
Environmental Contamination: Unknown.
Brownfield Site: No.
Environmental Studies: A 2006 Phase One report recommended a Phase Two study
be conducted, which has yet to be performed.
Remediation Efforts: None.
118VENICE PARKING LOT
4313-019-900
4313-019-901
4313-019-902
4313-019-903
VENICE BLVD. VENICE BLVD.
BAGLEY AVE. BAGLEY AVE.
119120 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 3713 Robertson Boulevard,
3715 Robertson Boulevard, Culver City, CA 90232.
Name: Robertson Parking Lot #1.
Parcel Data: APN 4206-033-917,
4206-033-936.
Lot Size: 3,375 s.f., 0.08 acres.
Current Zoning: Public Parking Facility (PPF).
Date of Acquisition: 4206-033-917: December 7, 1981,
4206-033-936: December 7, 1981.
Value of Property at time of Acquisition: $69,600.
Estimated Current Value: $0.
Appraised: No.
Purpose of Acquisition: Public parking – 8 metered spaces on surface lot.
Intended Use or Disposition: Governmental Purpose – The Successor Agency
intends to transfer this property to the Culver City Parking Authority.
Enforceable Obligation: Yes. Certain costs related to this property were included on
the Amended and Restated Enforceable Obligations Payment Schedule, Page 10,
Items 3, 6, 8, 18, 19, 21 through 24, and 29 through 32. The following items were
included on the Enforceable Obligations Payment Schedule by the former RDA and
were not objected to by the Department of Finance: Page 2, Item 10; and Page 3, Items
5 and 14. In addition, the following items were included on the Draft Preliminary
Recognized Obligations Payment Schedule by the former RDA and were not objected
to by the Department of Finance: Page 2, Items 10 and 27; and Page 3, Item 13.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: This property is
used to satisfy the parking requirements of businesses in the surrounding commercial
area as most of the properties were developed without onsite parking. The parking was
121Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
created because the properties could not be leased and their vacant condition was
creating a blighting influence on the community.
Contractual Agreements for Use: None.
Rentals or Leases: None.
Gross Revenues Generated: $4,175.
Net Revenue: $0.
Revenue Disposition: $3,744 operations and maintenance; $8,364 deferred
maintenance; $2,800 to sinking fund (calculated at $1 per square foot per year).
Deferred maintenance required as of May 1, 2013 (includes Robertson lot No. 2):
1. Demolish and repair perimeter fence - $ 5,000
2. Re-slurry and restripe at $475 per space - $ 3,500
3. Repair area signage - $ 3,000
Total $11,500
History of Previous Development Proposals: None.
Previous Development Activity: None.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: No studies have been performed.
Remediation Efforts: Not applicable.
122ROBERSTON PARKING LOT #1
4206-033-917
4206-033-936
VENICE BLVD. VENICE BLVD.
ROBERTSON BLVD. ROBERTSON BLVD.
123124 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 3727 Robertson Boulevard, Culver City, CA 90232.
Name: Robertson Parking Lot #2.
Parcel Data: APN 4206-033-925.
Lot Size: 1,020 s.f., 0.02 acres.
Current Zoning: Public Parking Facility (PPF).
Date of Acquisition: May 28, 1982.
Value of Property at time of Acquisition: Included in 3757 Robertson sale.
Estimated Current Value: $0.
Appraised: No.
Purpose of Acquisition: Public parking – 3 spaces on surface lot.
Intended Use or Disposition: Governmental Purpose – The Successor Agency
intends to transfer this property to the Culver City Parking Authority.
Enforceable Obligation: Yes. Certain costs related to this property were included on
the Amended and Restated Enforceable Obligations Payment Schedule, Page 10,
Items 3, 6, 8, 18, 19, 21 through 24, and 29 through 32. The following items were
included on the Enforceable Obligations Payment Schedule by the former RDA and
were not objected to by the Department of Finance: Page 2, Item 10; and Page 3, Items
5 and 14. In addition, the following items were included on the Draft Preliminary
Recognized Obligations Payment Schedule by the former RDA and were not objected
to by the Department of Finance: Page 2, Items 10 and 27; and Page 3, Item 13.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: This property is
used to satisfy the parking requirements of businesses in the surrounding commercial
area as most of the properties were developed without onsite parking. The parking was
created because the properties could not be leased and their vacant condition was
creating a blighting influence on the community.
125Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Contractual Agreements for Use: Monthly parking agreements exist with those using
the property.
Rentals or Leases: Monthly parking agreements exist with those using the property.
Gross Revenues Generated: $1,566.
Revenue Disposition: $978 operations and maintenance; $3,136 deferred
maintenance; $1,050 to sinking fund (calculated as $1 per square foot per year).
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: None.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: No studies have been performed.
Remediation Efforts: Not applicable.
126ROBERSTON PARKING LOT #2
4206-033-925
VENICE BLVD. VENICE BLVD.
ROBERTSON BLVD. ROBERTSON BLVD.
127128 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 3757 Robertson Boulevard, Culver City, CA 90232.
Name: Robertson Parking Lot #3.
Parcel Data: APN 4206-033-932,
4206-033-934,
4206-033-935.
Lot Size: 7,622 s.f., 0.18 acres.
Current Zoning: Public Parking Facility (PPF).
Date of Acquisition: 4206-033-932: May 28, 1982,
4206-033-934: May 28, 1982,
4206-033-935: May 28, 1982.
Value of Property at time of Acquisition: $414,268 (includes 3727 Robertson Blvd.)
Estimated Current Value: $0.
Appraised: No.
Purpose of Acquisition: Public parking – 32 spaces on surface lot.
Intended Use or Disposition: Governmental Purpose – The Successor Agency
intends to transfer this property to the Culver City Parking Authority.
Enforceable Obligation: Yes. Certain costs related to this property were included on
the Amended and Restated Enforceable Obligations Payment Schedule, 10, Items 3, 6,
8, 18, 19, 21 through 24, and 29 through 32. The following items were included on the
Enforceable Obligations Payment Schedule by the former RDA and were not objected
to by the Department of Finance: Page 2, Item 10; and Page 3, Items 5 and 14. In
addition, the following items were included on the Draft Preliminary Recognized
Obligations Payment Schedule by the former RDA and were not objected to by the
Department of Finance: Page 2, Items 10 and 27; and Page 3, Item 13.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: This property is
used to satisfy the parking requirements of businesses in the surrounding commercial
129Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
area as most of the properties were developed without onsite parking. The parking was
created because the properties could not be leased and their vacant condition was
creating a blighting influence on the community.
Contractual Agreements for Use: Monthly parking agreements exist with those using
the property.
Rentals or Leases: Monthly parking agreements exist with those using the property.
Gross Revenues Generated: $16,700.
Revenue Disposition: $978 operations and maintenance; $18,050 deferred
maintenance – reseal and re-slurry at $45 per space; $11,200 to sinking fund
(calculated at $1 per square foot per year).
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: None.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: No studies have been performed.
Remediation Efforts: Not applicable.
130ROBERSTON PARKING LOT #3
4206-033-932
ROBERTSON BLVD. ROBERTSON BLVD.
WASHINGTON BLVD. WASHINGTON BLVD.
131132 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 12601 Washington Boulevard, Culver City, CA 90066.
Name: 12601 Washington Parking Lot.
Parcel Data: APN 4231-019-901.
Lot Size: 5,998 s.f., 0.14 acres.
Current Zoning: Public Parking Facility (PPF).
Date of Acquisition: October 1, 2010.
Value of Property at time of Acquisition: $625,000.
Estimated Current Value: $0.
Appraised: No.
Purpose of Acquisition: Public parking – 15 spaces on surface lot.
Intended Use or Disposition: Governmental purpose – Successor Agency to transfer
property to Culver City Parking Authority.
Enforceable Obligation: Yes. Certain costs related to this property were included on
the Amended and Restated Enforceable Obligations Payment Schedule, Page 10,
Items 18, 19, 21 through 24, and 29 through 32; and Page 12, Items 3 through 6. The
following items were included on the Enforceable Obligations Payment Schedule by the
former RDA and were not objected to by the Department of Finance: Page 2, Item 10;
and Page 3, Items 5 and 14. In addition, the following items were included on the Draft
Preliminary Recognized Obligations Payment Schedule by the former RDA and were
not objected to by the Department of Finance: Page 2, Items 10 and 27; and Page 3,
Item 13.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: This property is
used to satisfy the parking requirements of businesses in the surrounding commercial
area as most of the properties were developed without onsite parking. The parking was
created because many of the properties could not be leased and their vacant condition
was creating a blighting influence on the community.
133Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Contractual Agreements for Use: Monthly parking agreements exist with those using
the property. Additionally, a Reciprocal Easement Agreement exists with the adjacent
property owner that improves vehicular circulation on the property. The Washington
Parking Lot was acquired by the former Redevelopment Agency using tax-exempt bond
proceeds which, pursuant to federal tax code, necessitates revenue neutrality related to
price of parking and net revenue generated. In addition, the use of tax-exempt bonds
represents a binding obligation under state and federal tax law and the underlying bond
indenture contracts with the bondholders, to maintain the Washington Parking Lot as a
publicly-owned governmental purpose asset – an asset which must remain available to
the general public and cannot be sold to private entities for use in connection with a for-
profit development or parking use for private (non-public) preferential basis.
Rentals or Leases: None.
Gross Revenues Generated: $600.
Revenue Disposition: $1,200 operations and maintenance; $5,250 to sinking fund
(calculated at $1 per square foot per year).
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: Commercial.
Environmental Contamination: None.
Brownfield Site: No.
Environmental Studies: A 2004 Phase One study concluded that no contamination
exists.
Remediation Efforts: Not applicable.
134WASHINGTON PARKING LOT
4231-019-901
WASHINGTON BLVD. WASHINGTON BLVD.
BOISE AVE. BOISE AVE.
135136 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 3825 Canfield Avenue, Culver City, CA 90232.
Name: Canfield Parking Lot.
Parcel Data: APN 4206-030-901.
Lot Size: 7,500 s.f., 0.17 acre.
Current Zoning: Public Parking Facility (PPF).
Date of Acquisition: May 22, 1973.
Value of Property at time of Acquisition: $40,725.00.
Estimated Current Value: $0.
Appraised: No.
Purpose of Acquisition: Public parking facility – 28 spaces on surface lot.
Intended Use or Disposition: Governmental Purpose – The Successor Agency
intends to transfer this property to the Culver City Parking Authority.
Enforceable Obligation: Yes. Certain costs related to this property were included on
the Amended and Restated Enforceable Obligations Payment Schedule, Page 10,
Items 18, 19, 21 through 24, and 29 through 32. The following items were included on
the Enforceable Obligations Payment Schedule by the former RDA and were not
objected to by the Department of Finance: Page 2, Item 10; and Page 3, Items 5 and
14. In addition, the following items were included on the Draft Preliminary Recognized
Obligations Payment Schedule by the former RDA and were not objected to by the
Department of Finance: Page 2, Items 10 and 27; and Page 3, Item 13.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: This property is
used to satisfy the parking requirements of businesses in the surrounding commercial
area as most of the properties were developed without onsite parking. This parking was
created because the properties could not be leased and their vacant condition was
creating a blighting influence on the community.
137Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Contractual Agreements for Use: Monthly parking agreements exist with those
using the property. Contractual encumbrance exists for access to on-site community
trash facility approved under Permit for the following businesses:
1. Kay ‘n Dave’s, 9341 Culver Blvd.,
2. Native Foods Café, 9343 Culver Blvd.,
3. Grand Casino Bakery & Cafe, 3826 Main St.
Rentals or Leases: Monthly parking agreements exist with those using the property.
Gross Revenues Generated: $13,080.00.
Net Revenue: $0.
Revenue Disposition: $5,292.00 operations and maintenance; $13,300 deferred
maintenance; $9,800 to sinking fund (calculated at $1 per square foot per year).
Deferred maintenance required as of May 1, 2013:
1. Re-slurry and Restripe at $475 per space - $13,300.
History of Previous Development Proposals: None.
Previous Development Activity: None.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: No studies have been performed.
Remediation Efforts: Not applicable.
138CANFIELD PARKING LOT
4206-03-901
VENICE BLVD. VENICE BLVD.
CULVER BLVD. CULVER BLVD.
CANFIELD AVE. CANFIELD AVE.
139140 Successor Agency to Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: Town Plaza, Culver City, CA 90232.
Name: Town Plaza Expansion and Public Parking.
Parcel Data: APN: 4206-029-935.
Lot Size: 39,675 s.f., 0.91 acres.
Current Zoning: Public Right-of-Way zoned Public Parking Facility (PPF). The
property is public right-of-way in the downtown area.
Date of Acquisition: Assembled 1981 through 1989.
Value of Property at time of Acquisition: $0. The property is public right of way that
was transferred from the City to the Agency and remains public right-of-way.
Estimated Current Value: $0.
Appraised: No.
Purpose of Acquisition: This property was previously used as a roadway in the
downtown area. The roadway was relocated in order to create a public pedestrian
plaza with subterranean parking beneath.
Intended Use or Disposition: Governmental Purpose – The Successor Agency
intends to transfer this property to the City of Culver City for use as a public plaza with
public parking beneath.
Enforceable Obligation: Yes. The DDA and certain costs related to this property were
included on the Amended and Restated Enforceable Obligations Payment Schedule,
Page 3, Item 2; and Page 5, Items 2 through 7. The following items were included on
the Enforceable Obligations Payment Schedule by the former RDA and were not
objected to by the Department of Finance: Page 2, Item 10; and Page 3, Items 5, 27
and 28. In addition, the following items were included on the Draft Preliminary
Recognized Obligations Payment Schedule by the former RDA and were not objected
to by the Department of Finance: Page 2, Items 10, and 27; and Page 3, Items 27 and
28.
Potential for Transit-Oriented Development: No.
141Successor Agency to Culver City Redevelopment Agency
Long Range Property Management Plan
Potential to Advance Planning Objectives of Successor Agency: This property will
enhance downtown Culver City by creating additional public space and will complement
the development of the Town Plaza (Parcel B) project. The first phase of construction,
which was the closure of a one-block segment of Washington Boulevard between Main
Street and Ince Boulevard, has been completed. The second and final phase will be to
construct the pedestrian plaza expansion for public use as a public plaza with public
parking beneath.
Contractual Agreements for Use: A Disposition and Development Agreement exists
with Combined/Hudson (developer) requiring them to construct the public plaza
expansion and public parking beneath on behalf of the Successor Agency.
Rentals or Leases: Temporary parking rental.
Gross Revenues Generated: $27,450 annually.
Revenue Disposition: $3,748.50 landscaping, operations and maintenance.
Net Revenue: $23,701.50 (excluding staff costs).
History of Previous Development Proposals: None.
Previous Development Activity: Phase one of the town plaza expansion has been
completed and bond proceeds have been set aside to complete Phase two. Phase one
included the closure of the roadway and phase two includes construction of the public
pedestrian plaza expansion with public parking beneath.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: No studies have been performed.
Remediation Efforts: Not applicable.
142TOWN PLAZA EXPANSION PROJECT
4206-029-935
CULVER BLVD. CULVER BLVD.
WASHINGTON BLVD. WASHINGTON BLVD.
143144 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 12403 Washington Boulevard,
12413 Washington Boulevard,
12421 Washington Boulevard,
12423 Washington Boulevard,
4061 Centinela Avenue,
4063 Centinela Avenue, Culver City, CA 90066.
Name: 12403-12423 Washington Blvd., ‘Site A’.
Parcel Data: APN 4231-002-901,
4231-002-902,
4231-002-903,
4231-002-904,
4231-002-905,
4231-002-906,
4231-002-907,
4231-002-909.
Lot Size: 38,974 s.f., 0.89 acres.
Current Zoning: Public Parking Facility (PPF).
Date of Acquisition: 4231-002-901: March 9, 2006,
4231-002-902: March 9, 2006,
4231-002-903: March 9, 2006,
4231-002-904: March 9, 2006,
4231-002-905: March 9, 2006,
4231-002-906: March 9, 2006,
4231-002-907: March 9, 2006,
4231-002-908: March 9, 2006,
4231-002-909: March 9, 2006.
Value of Property at time of Acquisition: $4,873,975.
Estimated Current Value: $2,155,426.
Appraised: Yes, April 30, 2013 ($55.30 per square foot).
Purpose of Acquisition: Blight elimination / Washington-Centinela Market Hall Project.
145Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Intended Use or Disposition: Governmental Purpose - The Successor Agency intends
to transfer a portion of this property to the Culver City Parking Authority for public
parking use and to sell a portion of this property to Regency Centers in conjunction with
the Washington-Centinela Market Hall project through execution of a Disposition and
Development Agreement.
Enforceable Obligation: Yes. Certain costs related to this property were included on
the Amended and Restated Enforceable Obligations Payment Schedule, Page 3, Item
2; and Page 6, Items 3 through 8. The following items were included on the
Enforceable Obligations Payment Schedule by the former RDA and were not objected
to by the Department of Finance: Page 2, Items 10 and 27; and Page 3, Items 5 and 6.
In addition, the following items were included on the Draft Preliminary Recognized
Obligations Payment Schedule by the former RDA and were not objected to by the
Department of Finance: Page 2, Items 10, 27 and 28; and Page 3, Item 5.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: This property will
be used to develop public parking facility for transfer to the Culver City Parking
Authority, and a portion will be sold to Regency Centers for development as a market
hall that will provide fresh produce, fish/meat/poultry and artisan goods to the
surrounding community. The development will include a public parking component that
will serve surrounding businesses. The development is intended to catalyze future
private development, which will revitalize this portion of Culver City in accordance with
the West Washington Boulevard implementation strategy.
Contractual Agreements for Use: A Commitment Letter exists with Regency
Properties to develop the Market Hall project described in the Plan narrative.
Rentals or Leases: Rented to private business on a seasonable basis.
Gross Revenues Generated: $25,501.
Revenue Disposition: $2,442 operations and maintenance.
Net Revenue: $23,059 (excludes staff costs). This revenue will no longer be generated
if the property is not disposed of in the intended manner.
History of Previous Development Proposals: Commercial General.
Previous Development Activity: None.
146Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Environmental Contamination: None.
Brownfield Site: No.
Environmental Studies: A 2006 Phase Two study concluded that no contamination
exists on the site.
Remediation Efforts: Not applicable.
147WASHINGTON CENTINELA REGENCY PROJECT (SITE A)
4231-002-901
4231-002-902
4231-002-903
4231-002-904
4231-002-905
4231-002-907
4231-002-909
WASHINGTON BLVD. WASHINGTON BLVD.
CENTINELA AVE. CENTINELA AVE.
148149 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 4064 Colonial Avenue, Culver City, CA 90066.
Name: 4064 Colonial Ave., ‘Site A’.
Parcel Data: APN 4231-002-900,
4231-002-908.
Lot Size: 8,310 s.f., 0.19 acres.
Current Zoning: Public Parking Facility (PPF).
Date of Acquisition: 4231-002-900: April 21, 2006,
4231-002-908: April 21, 2006.
Value of Property at time of Acquisition: $1,204,949.
Estimated Current Value: $459,578.
Appraised: Yes, April 30, 2013 ($55.30 per square foot).
Purpose of Acquisition: Blight elimination / Washington-Centinela Market Hall project.
Intended Use or Disposition: Governmental Purpose - The Successor Agency intends
to transfer a portion of this property to the Culver City Parking Authority for public
parking use and to sell a portion of this property to Regency Centers in conjunction with
the Washington-Centinela Market Hall project through execution of a Disposition and
Development Agreement.
Enforceable Obligation: Yes. Certain costs related to this property were included on
the Amended and Restated Enforceable Obligations Payment Schedule, Page 3, Item
2; and Page 6, Items 3 through 8. The following items were included on the
Enforceable Obligations Payment Schedule by the former RDA and were not objected
to by the Department of Finance: Page 2, Items 10 and 27; and Page 3, Items 5 and 6.
In addition, the following items were included on the Draft Preliminary Recognized
Obligations Payment Schedule by the former RDA and were not objected to by the
Department of Finance: Page 2, Items 10, 27 and 28; and Page 3, Item 5.
Potential for Transit-Oriented Development: No.
150Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Potential to Advance Planning Objectives of Successor Agency: This property will
be used to develop public parking facility for transfer to the Culver City Parking
Authority, and a portion will be sold to Regency Centers for development as a market
hall that will provide fresh produce, fish/meat/poultry and artisan goods to the
surrounding community. The development will include a public parking component that
will serve surrounding businesses. The development is intended to catalyze future
private development, which will revitalize this portion of Culver City in accordance with
the West Washington Boulevard implementation strategy.
Contractual Agreements for Use: A Commitment Letter exists with Regency Centers
to develop the Market Hall project described on the prior page.
Rentals or Leases: None.
Gross Revenues Generated: $0.
Revenue Disposition: $543 operations and maintenance.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: Single Family Home.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: No studies have been performed.
Remediation Efforts: Not applicable.
151WASHINGTON CENTINELA REGENCY PROJECT (SITE A)
4231-002-900
4231-002-908
WASHINGTON BLVD. WASHINGTON BLVD.
CENTINELA AVE. CENTINELA AVE.
152153 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: La Ballona Creek, Culver City, CA 90232.
Name: La Ballona Creek Parcel One.
Parcel Data: APN 4205-005-908.
Lot Size: 1,800 s.f., 0.04 acres.
Current Zoning: Open Space (OS).
Date of Acquisition: December 7, 2004.
Value of Property at time of Acquisition: $108.
Estimated Current Value: $0.
Appraised: No.
Purpose of Acquisition: Landscape buffer, Ballona Creek access.
Intended Use or Disposition: Governmental Purpose – The Successor Agency
intends to transfer this property to the City of Culver City for use as a landscape buffer
and access to Ballona Creek.
Enforceable Obligation: Yes. The following items were included on the Enforceable
Obligations Payment Schedule by the former RDA and were not objected to by the
Department of Finance: Page 2, Item 10; and Page 3, Item 5. In addition, the following
items were included on the Draft Preliminary Recognized Obligations Payment
Schedule by the former RDA and were not objected to by the Department of Finance:
Page 2, Items 10 and 27; and Page 3, Item 5.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: Due to its location
within the flood control channel, this property is undevelopable and has no intrinsic
value.
Contractual Agreements for Use: None.
Rentals or Leases: None.
154Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Gross Revenues Generated: $0.
Revenue Disposition: None.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: None.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: No studies have been performed.
Remediation Efforts: Not applicable.
155LA BALLONA CREEK PARCEL ONE
4205-005-908
WASHINGTON BLVD. WASHINGTON BLVD.
SMILEY DR. SMILEY DR.
156157 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: La Ballona Creek, Culver City, CA 90232.
Name: La Ballona Creek Parcel Two.
Parcel Data: APN 4209-030-901,
4209-030-902.
Lot Size: 92,783 s.f., 2.13 acres.
Current Zoning: Open space (OS).
Date of Acquisition: 4209-030-901: June 14, 1978,
4209-030-902: July 26, 1977.
Value of Property at time of Acquisition: $672,474.
Estimated Current Value: $0.
Appraised: No.
Purpose of Acquisition: Landscape buffer, Ballona Creek access.
Intended Use or Disposition: Governmental Purpose – The Successor Agency
intends to transfer this property to the City of Culver City for use as a landscape buffer
to the Ballona Creek.
Enforceable Obligation: Yes. The following items were included on the Enforceable
Obligations Payment Schedule by the former RDA and were not objected to by the
Department of Finance: Page 2, Item 10; and Page 3, Item 5. In addition, the following
items were included on the Draft Preliminary Recognized Obligations Payment
Schedule by the former RDA and were not objected to by the Department of Finance:
Page 2, Items 10 and 27; and Page 3, Item 5.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: Due to its location
within the flood control channel, this property is undevelopable and has no intrinsic
value.
Contractual Agreements for Use: None.
158Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Rentals or Leases: None.
Gross Revenues Generated: $0.
Revenue Disposition: None.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: None.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: No studies have been performed.
Remediation Efforts: Not applicable.
159JEFFERSON BLVD. JEFFERSON BLVD.
LA BALLONA CREEK PARCEL TWO
4209-030-901
4209-030-902
160161 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
II. Properties to be Retained for Future Development
A. Jazz Bakery Project:
1. 9814 Washington Boulevard.
(Jazz Bakery / Paskan House)
APN 4207-006-915.
162Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 9814 Washington Boulevard, Culver City, CA 90232.
Name: Jazz Bakery ‘Paskan House’.
Parcel Data: APN 4207-006-915.
Lot Size: 6,590 s.f., 0.15 acres.
Current Zoning: Commercial Downtown (CD).
Date of Acquisition: November 29, 1995.
Value of Property at time of Acquisition: $281,865.
Estimated Current Value: $659,000.
Appraised: Yes (April 30, 2013).
Purpose of Acquisition: Blight elimination / Creation of commercial opportunity.
Intended Use or Disposition: The Successor Agency intends to retain this property
for future development of the Jazz Bakery, a live music venue.
Enforceable Obligation: Yes. Certain costs related to this property were included on
the Amended and Restated Enforceable Obligations Payment Schedule, Page 3, Item
2; and Page 8, Items 2 through 4. The following items were included on the
Enforceable Obligations Payment Schedule by the former RDA and were not objected
to by the Department of Finance: Page 2, Item 10; and Page 3, Items 5 and 6. In
addition, the following items were included on the Draft Preliminary Recognized
Obligations Payment Schedule by the former RDA and were not objected to by the
Department of Finance: Page 2, Items 10 and 27; and Page 3, Item 5.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: The development
of this property as a live music venue will augment and complement the existing
entertainment venues in Downtown Culver City. Entertainment venues like these are
important because they act as catalysts that attract people to the downtown area.
These people patronize retail and restaurant businesses throughout the city.
163Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Contractual Agreements for Use: A commitment letter exists with the Jazz Bakery for
the development of a live music venue.
Rentals or Leases: The property is currently leased to the Center Theatre Group until
2061. In addition, the Center Theatre Group may elect to execute two five year
extension options.
Gross Revenues Generated: $0.
Revenue Disposition: None.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: Commercial.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: No studies have been performed.
Remediation Efforts: Not applicable.
164JAZZ BAKERY PROJECT
4207-006-915
WASHINGTON BLVD. WASHINGTON BLVD.
CULVER BLVD. CULVER BLVD.
DUQUESNE AVE. DUQUESNE AVE.
165166 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
III. Properties to be Sold
A. Washington-Centinela / Regency Project:
1. 12403 Washington Boulevard,
12413 Washington Boulevard,
12421 Washington Boulevard,
12423 Washington Boulevard,
4061 Centinela Avenue,
4063 Centinela Avenue.
(Site A)
APN 4231-002-901,
4231-002-902,
4231-002-903,
4231-002-904,
4231-002-905,
4231-002-906,
4231-002-907,
4231-002-909.
2. 4064 Colonial Avenue.
(Site A)
APN 4231-002-900,
4231-002-908.
3. 12337 Washington Boulevard.
(Site B)
APN 4232-009-901.
4. 12343 Washington Boulevard.
(Site B)
APN 4232-009-900.
B. Washington-National / Lowe Enterprises Project:
5. 8829 Exposition Boulevard.
APN 4312-014-913.
6. 8831 Exposition Boulevard.
APN 4312-014-911.
167Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
7. 8840 National Boulevard.
APN 4312-014-912.
8. 8841 Exposition Boulevard.
APN 4312-014-905.
9. 8843 Exposition Boulevard.
APN 4312-014-914.
10. 8824 National Boulevard,
8825 National Boulevard,
8828 National Boulevard,
8801 Washington Boulevard,
8803 Washington Boulevard.
APN 4312-014-915,
4312-014-916,
4312-014-917,
4312-014-918,
4312-014-919.
11. 8830-8834 National Boulevard.
APN 4312-014-910.
12. 8836 National Boulevard,
8838 National Boulevard.
APN 4312-014-907,
4312-014-908.
13. 8839 Exposition Boulevard.
APN 4312-014-909.
14. 8842 National Boulevard.
APN 4312-014-906.
168Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
15. 8846 National Boulevard.
APN 4312-014-270,
4312-014-271,
4312-014-900,
4312-014-901,
4312-014-902,
4312-014-903,
4312-014-904.
C. Parcel B / Combined-Hudson Project:
16. 9300 Culver Boulevard.
APN 4206-029-934.
D. Wesley Parking Lot:
17. 3433 Wesley Street.
(Wesley Parking Lot)
APN 4312-028-901.
169Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 12403 Washington Boulevard,
12413 Washington Boulevard,
12421 Washington Boulevard,
12423 Washington Boulevard,
4061 Centinela Avenue,
4063 Centinela Avenue, Culver City, CA 90066.
Name: 12403-12423 Washington Blvd., ‘Site A’.
Parcel Data: APN 4231-002-901,
4231-002-902,
4231-002-903,
4231-002-904,
4231-002-905,
4231-002-906,
4231-002-907,
4231-002-909.
Lot Size: 38,974 s.f., 0.89 acres.
Current Zoning: Public Parking Facility (PPF).
Date of Acquisition: 4231-002-901: March 9, 2006,
4231-002-902: March 9, 2006,
4231-002-903: March 9, 2006,
4231-002-904: March 9, 2006,
4231-002-905: March 9, 2006,
4231-002-906: March 9, 2006,
4231-002-907: March 9, 2006,
4231-002-908: March 9, 2006,
4231-002-909: March 9, 2006.
Value of Property at time of Acquisition: $4,873,975.
Estimated Current Value: $2,155,426.
Appraised: Yes, April 30, 2013 ($55.30 per square foot).
Purpose of Acquisition: Blight elimination / Washington-Centinela Market Hall Project.
170Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Intended Use or Disposition: The Successor Agency intends to sell a portion of this
property to the Developer for development of the Washington-Centinela Market Hall
project by Regency Centers through execution of a Disposition and Development
Agreement. The remaining portion will be retained for Governmental Purpose to
develop a public parking facility for transfer to the Culver City Parking Authority.
Enforceable Obligation: Yes. Certain costs related to this property were included on
the Amended and Restated Enforceable Obligations Payment Schedule, Page 3, Item
2; and Page 6, Items 3 through 8. The following items were included on the
Enforceable Obligations Payment Schedule by the former RDA and were not objected
to by the Department of Finance: Page 2, Items 10 and 27; and Page 3, Items 5 and 6.
In addition, the following items were included on the Draft Preliminary Recognized
Obligations Payment Schedule by the former RDA and were not objected to by the
Department of Finance: Page 2, Items 10, 27 and 28; and Page 3, Item 5.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: This property will
be used to develop a market hall that will provide fresh produce, fish/meat/poultry and
artisan goods to the surrounding community. The development will include a public
parking component that will serve surrounding businesses. The development is
intended to catalyze future private development, which will revitalize this portion of
Culver City in accordance with the West Washington Boulevard implementation
strategy. A portion of the property will be retained for development of a public parking
facility for transfer to the Culver City Parking Authority.
Contractual Agreements for Use: A Commitment Letter exists with Regency
Properties to develop the Market Hall project described on the prior page.
Rentals or Leases: Rented to private business on a seasonable basis.
Gross Revenues Generated: $25,501.
Revenue Disposition: $2,442 operations and maintenance.
Net Revenue: $23,059 (excludes staff costs).
History of Previous Development Proposals: Commercial General.
Previous Development Activity: None.
Environmental Contamination: None.
171Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Brownfield Site: No.
Environmental Studies: A 2006 Phase Two study concluded that no contamination
exists on the site.
Remediation Efforts: Not applicable.
172WASHINGTON CENTINELA REGENCY PROJECT (SITE A)
4231-002-901
4231-002-902
4231-002-903
4231-002-904
4231-002-905
4231-002-907
4231-002-909
WASHINGTON BLVD. WASHINGTON BLVD.
CENTINELA AVE. CENTINELA AVE.
173174 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 4064 Colonial Avenue, Culver City, CA 90066.
Name: 4064 Colonial Ave., ‘Site A’.
Parcel Data: APN 4231-002-900,
4231-002-908.
Lot Size: 8,310 s.f., 0.19 acres.
Current Zoning: Public Parking Facility (PPF).
Date of Acquisition: 4231-002-900: April 21, 2006,
4231-002-908: April 21, 2006.
Value of Property at time of Acquisition: $1,204,949.
Estimated Current Value: $459,578.
Appraised: Yes, April 30, 2013 ($55.30 per square foot).
Purpose of Acquisition: Blight elimination / Washington-Centinela Market Hall project.
Intended Use or Disposition: The Successor Agency intends to sell a portion of this
property to the Developer for development of the Washington-Centinela Market Hall
project by Regency Centers through execution of a Disposition and Development
Agreement. The remaining portion will be retained for Governmental Purpose to
develop a public parking facility for transfer to the Culver City Parking Authority.
Enforceable Obligation: Yes. Certain costs related to this property were included on
the Amended and Restated Enforceable Obligations Payment Schedule, Page 3, Item
2; and Page 6, Items 3 through 8. The following items were included on the
Enforceable Obligations Payment Schedule by the former RDA and were not objected
to by the Department of Finance: Page 2, Items 10 and 27; and Page 3, Items 5 and 6.
In addition, the following items were included on the Draft Preliminary Recognized
Obligations Payment Schedule by the former RDA and were not objected to by the
Department of Finance: Page 2, Items 10, 27 and 28; and Page 3, Item 5.
Potential for Transit-Oriented Development: No.
175Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Potential to Advance Planning Objectives of Successor Agency: This property will
be used to develop a market hall that will provide fresh produce, fish/meat/poultry and
artisan goods to the surrounding community. The development will include a public
parking component that will serve surrounding businesses. The development is
intended to catalyze future private development, which will revitalize this portion of
Culver City in accordance with the West Washington Boulevard implementation
strategy. A portion of the property will be retained for development of a public parking
facility for transfer to the Culver City Parking Authority.
Contractual Agreements for Use: A Commitment Letter exists with Regency Centers
to develop the Market Hall project described on the prior page.
Rentals or Leases: None.
Gross Revenues Generated: $0.
Revenue Disposition: $543 operations and maintenance.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: Single Family Home.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: No studies have been performed.
Remediation Efforts: Not applicable.
176WASHINGTON CENTINELA REGENCY PROJECT (SITE A)
4231-002-900
4231-002-908
WASHINGTON BLVD. WASHINGTON BLVD.
CENTINELA AVE. CENTINELA AVE.
177178 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 12337 Washington Boulevard, Culver City, CA 90066.
Name: 12337 Washington Blvd., ‘Site B’.
Parcel Data: APN 4232-009-900.
Lot Size: 3,267 s.f., 0.08 acres.
Current Zoning: Commercial General (CG).
Date of Acquisition: May 10, 2006.
Value of Property at time of Acquisition: $638,800.
Estimated Current Value: $326,585.
Appraised: Yes, April 30, 2013 ($99.96 per square foot).
Purpose of Acquisition: Blight elimination / Washington-Centinela Market Hall Project.
Intended Use or Disposition: The Successor Agency intends to sell this property to
the Developer for development of the Washington-Centinela Market Hall project by
Regency Centers through execution of a Disposition and Development Agreement.
Enforceable Obligation: Yes. Certain costs related to this property were included on
the Amended and Restated Enforceable Obligations Payment Schedule, Page 3, Item
2; and Page 6, Items 3 through 8. The following items were included on the
Enforceable Obligations Payment Schedule by the former RDA and were not objected
to by the Department of Finance: Page 2, Items 10 and 27; and Page 3, Items 5 and 6.
In addition, the following items were included on the Draft Preliminary Recognized
Obligations Payment Schedule by the former RDA and were not objected to by the
Department of Finance: Page 2, Items 10, 27 and 28; and Page 3, Item 5.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: This property will
be used to develop a market hall that will provide fresh produce, fish/meat/poultry and
artisan goods to the surrounding community. The development will include a public
parking component that will serve surrounding businesses. The development is
intended to catalyze future private development, which will revitalize this portion of
179Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Culver City in accordance with the West Washington Boulevard implementation
strategy.
Contractual Agreements for Use: A Commitment Letter exists with Regency
Properties to develop the Market Hall project described above and on the prior page.
Rentals or Leases: None.
Gross Revenues Generated: $0.
Revenue Disposition: $226 operations and maintenance.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: General Commercial.
Environmental Contamination: None.
Brownfield Site: No.
Environmental Studies: A 2004 Phase One report concluded that no contamination
exists.
Remediation Efforts: Not applicable.
180WASHINGTON CENTINELA REGENCY PROJECT (SITE B)
4232-009-900
WASHINGTON BLVD. WASHINGTON BLVD.
CENTINELA AVE. CENTINELA AVE.
181182 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 12343 Washington Boulevard, Culver City, CA 90066.
Name: 12343 Washington Blvd., ‘Site B’.
Parcel Data: APN 4232-009-901.
Lot Size: 16,540 s.f., 0.38 acres.
Current Zoning: Commercial General (CG).
Date of Acquisition: April 25, 2006.
Value of Property at time of Acquisition: $2,232,719.
Estimated Current Value: $1,653,416.
Appraised: Yes, April 30, 2013 ($99.96 per square foot).
Purpose of Acquisition: Blight elimination / Washington-Centinela Market Hall Project.
Intended Use or Disposition: The Successor Agency intends to sell this property to
the Developer for development of the Washington-Centinela Market Hall project by
Regency Centers through execution of a Disposition and Development Agreement.
Enforceable Obligation: Yes. Certain costs related to this property were included on
the Amended and Restated Enforceable Obligations Payment Schedule, Page 3, Item
2; and Page 6, Items 3 through 8. The following items were included on the
Enforceable Obligations Payment Schedule by the former RDA and were not objected
to by the Department of Finance: Page 2, Items 10 and 27; and Page 3, Items 5 and 6.
In addition, the following items were included on the Draft Preliminary Recognized
Obligations Payment Schedule by the former RDA and were not objected to by the
Department of Finance: Page 2, Items 10, 27 and 28; and Page 3, Item 5.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: This property will
be used to develop a market hall that will provide fresh produce, fish/meat/poultry and
artisan goods to the surrounding community. The development will include a public
parking component that will serve surrounding businesses. The development is
intended to catalyze future private development, which will revitalize this portion of
183Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Culver City in accordance with the West Washington Boulevard implementation
strategy.
Contractual Agreements for Use: A Commitment Letter exists with Regency
Properties to develop the Market Hall project described above and on the prior page.
This property is essential to the economic development plan for the west Washington
area.
Rentals or Leases: None.
Gross Revenues Generated: $0.
Revenue Disposition: $1,040 operations and maintenance.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: Commercial.
Environmental Contamination: None.
Brownfield Site: No.
Environmental Studies: A Phase Two study performed by the prior owner concluded
that groundwater contamination existed from the leakage of a former gasoline station
underground storage tank.
Remediation Efforts: Active Remediation was performed. In 2010, the Los Angeles
Regional Water Quality Control Board issued a No Further Action/Closure letter for the
successful cleanup of the contamination.
184WASHINGTON CENTINELA REGENCY PROJECT (SITE B)
4232-009-901
WASHINGTON BLVD. WASHINGTON BLVD.
CENTINELA AVE. CENTINELA AVE.
185186 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 8829 Exposition Boulevard, Culver City, CA 90232.
Name: 8829 Exposition Blvd.
Parcel Data: APN 4312-014-913.
Lot Size: 2,500 s.f., 0.06 acres.
Current Zoning: Planned Development (PD).
Date of Acquisition: September 8, 2006.
Value of Property at time of Acquisition: $610,000.
Estimated Current Value: $20,650.
Appraised: Yes.
Purpose of Acquisition: Blight elimination / Transit-Oriented-Development.
Intended Use or Disposition: The Successor Agency intends to sell this property to
the developer, Lowe Enterprises.
Enforceable Obligation: Yes. Certain costs related to the proposed Project were
included on the Amended and Restated Enforceable Obligations Payment Schedule,
Page 2, Items 8 and 11; Page 3, Item 2; and Page 6, Items 13 through 20. The
following items were included on the Enforceable Obligations Payment Schedule by the
former RDA and were not objected to by the Department of Finance: Page 2, Items 10
and 16; and Page 3, Items 5 and 6. In addition, the following items were included on
the Draft Preliminary Recognized Obligations Payment Schedule by the former RDA
and were not objected to by the Department of Finance: Page 1, Item 15; Page 2, Items
10 and 27; and Page 3, Item 5. The MOU, the Option Agreement, the Construction
License Agreement, and the Parking License Agreement, were subsequently included
in the Amended and Restated Enforceable Obligations Payment Schedule submitted by
the former RDA and was not objected to by the Department of Finance.
Potential for Transit-Oriented Development: Yes.
Potential to Advance Planning Objectives of Successor Agency: This property is
essential to the planned TOD project at the Washington-National site. Please refer to
187Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
the Washington National Transit Oriented Development (TOD) project description on
the preceding page for additional information.
Contractual Agreements for Use: A Commitment Letter has been executed with Lowe
Enterprises to develop the TOD project.
Rentals or Leases: The property is subject to a 10 year lease with the Los Angeles
County Metropolitan Transit Authority to provide parking for the Exposition Light Rail
Station.
Gross Revenues Generated: $0.
Revenue Disposition: None.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: None.
Environmental Contamination: Asbestos.
Brownfield Site: No.
Environmental Studies: A Phase I analysis was performed in 2005 prior to the
property being purchased. In 2007, a Phase 2 report concluded that asbestos was
present in the soil. Additional soil borings were taken at various site locations in order
to determine whether or not contamination existed.
Remediation Efforts: None required, provided, however, that asbestos containing soil
is removed and disposed of properly during excavation.
188WASHINGTON -NATIONAL/LOWE PROJECT
4312-01-913
WASHINGTON BLVD. WASHINGTON BLVD.
VENICE BLVD. VENICE BLVD.
NATIONAL BLVD. NATIONAL BLVD.
189190 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 8831 Exposition Boulevard, Culver City, CA 90232.
Name: 8831 Exposition Blvd.
Parcel Data: APN 4312-014-911.
Lot Size: 7,500 s.f., 0.17 acres.
Current Zoning: Planned Development (PD).
Date of Acquisition: August 29, 2006.
Value of Property at time of Acquisition: $3,034,966.
Estimated Current Value: $61,950.
Appraised: Yes.
Purpose of Acquisition: Blight elimination / Transit-Oriented-Development.
Intended Use or Disposition: The Successor Agency intends to sell this property to
the developer, Lowe Enterprises.
Enforceable Obligation: Yes. Certain costs related to the proposed Project were
included on the Amended and Restated Enforceable Obligations Payment Schedule,
Page 2, Items 8 and 11; Page 3, Item 2; and Page 6, Items 13 through 20. The
following items were included on the Enforceable Obligations Payment Schedule by the
former RDA and were not objected to by the Department of Finance: Page 2, Items 10
and 16; and Page 3, Items 5 and 6. In addition, the following items were included on
the Draft Preliminary Recognized Obligations Payment Schedule by the former RDA
and were not objected to by the Department of Finance: Page 1, Item 15; Page 2, Items
10 and 27; and Page 3, Item 5. The MOU, the Option Agreement, the Construction
License Agreement, and the Parking License Agreement, were subsequently included
in the Amended and Restated Enforceable Obligations Payment Schedule submitted by
the former RDA and was not objected to by the Department of Finance.
Potential for Transit-Oriented Development: Yes.
Potential to Advance Planning Objectives of Successor Agency: This property is
essential to the planned TOD project at the Washington-National site. Please refer to
191Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
the Washington National Transit Oriented Development (TOD) project description on
the preceding page for additional information.
Contractual Agreements for Use: A Commitment Letter has been executed with Lowe
Enterprises to develop the TOD project.
Rentals or Leases: The property is subject to a 10 year lease with the Los Angeles
County Metropolitan Transit Authority to provide parking for the Exposition Light Rail
Station.
Gross Revenues Generated: $0.
Revenue Disposition: None.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: Light Manufacturing.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: A 2005 Phase I analysis was performed prior to the property
being purchased. Additional soil borings were taken in 2011at various site locations in
order to determine whether or not contamination existed.
Remediation Efforts: Not applicable.
192WASHINGTON -NATIONAL/LOWE PROJECT
4312-014-912
WASHINGTON BLVD. WASHINGTON BLVD.
VENICE BLVD. VENICE BLVD.
NATIONAL BLVD. NATIONAL BLVD.
193194 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 8840 National Boulevard, Culver City, CA 90232.
Name: 8840 National Blvd.
Parcel Data: APN 4312-014-912.
Lot Size: 2,500 s.f., 0.06 acres.
Current Zoning: Planned Development (PD).
Date of Acquisition: August 30, 2006.
Value of Property at time of Acquisition: $554,657.
Estimated Current Value: $20,650.
Appraised: Yes.
Purpose of Acquisition: Blight elimination / Transit-Oriented-Development.
Intended Use or Disposition: The Successor Agency intends to sell this property to
the developer, Lowe Enterprises.
Enforceable Obligation: Yes. Certain costs related to the proposed Project were
included on the Amended and Restated Enforceable Obligations Payment Schedule,
Page 2, Items 8 and 11; Page 3, Item 2; and Page 6, Items 13 through 20. The
following items were included on the Enforceable Obligations Payment Schedule by the
former RDA and were not objected to by the Department of Finance: Page 2, Items 10
and 16; and Page 3, Items 5 and 6. In addition, the following items were included on
the Draft Preliminary Recognized Obligations Payment Schedule by the former RDA
and were not objected to by the Department of Finance: Page 1, Item 15; Page 2, Items
10 and 27; and Page 3, Item 5. The MOU, the Option Agreement, the Construction
License Agreement, and the Parking License Agreement, were subsequently included
in the Amended and Restated Enforceable Obligations Payment Schedule submitted by
the former RDA and was not objected to by the Department of Finance.
Potential for Transit-Oriented Development: Yes.
Potential to Advance Planning Objectives of Successor Agency: This property is
essential to the planned TOD project at the Washington-National site. Please refer to
195Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
the Washington National Transit Oriented Development (TOD) project description on
the preceding page for additional information.
Contractual Agreements for Use: A Commitment Letter has been executed with Lowe
Enterprises to develop the TOD project.
Rentals or Leases: The property is subject to a 10 year lease with the Los Angeles
County Metropolitan Transit Authority to provide parking for the Exposition Light Rail
Station.
Gross Revenues Generated: $0.
Revenue Disposition: None.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: Light Manufacturing.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: A Phase I analysis was performed in 2005 prior to the
property being purchased. Additional soil borings were taken in 2011at various site
locations in order to determine whether or not contamination existed.
Remediation Efforts: Not applicable.
196WASHINGTON -NATIONAL/LOWE PROJECT
4312-014-912
WASHINGTON BLVD. WASHINGTON BLVD.
VENICE BLVD. VENICE BLVD.
NATIONAL BLVD. NATIONAL BLVD.
197198 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 8841 Exposition Boulevard, Culver City, CA 90232.
Name: 8841 Exposition Blvd.
Parcel Data: APN 4312-014-905.
Lot Size: 2,496 s.f., 0.06 acres.
Current Zoning: Planned Development (PD).
Date of Acquisition: May 16, 2006.
Value of Property at time of Acquisition: $1,036,210.
Estimated Current Value: $20,617.
Appraised: Yes.
Purpose of Acquisition: Blight elimination / Transit-Oriented-Development.
Intended Use or Disposition: The Successor Agency intends to sell this property to
the developer, Lowe Enterprises.
Enforceable Obligation: Yes. Certain costs related to the proposed Project were
included on the Amended and Restated Enforceable Obligations Payment Schedule,
Page 2, Items 8 and 11; Page 3, Item 2; and Page 6, Items 13 through 20. The
following items were included on the Enforceable Obligations Payment Schedule by the
former RDA and were not objected to by the Department of Finance: Page 2, Items 10
and 16; and Page 3, Items 5 and 6. In addition, the following items were included on
the Draft Preliminary Recognized Obligations Payment Schedule by the former RDA
and were not objected to by the Department of Finance: Page 1, Item 15; Page 2, Items
10 and 27; and Page 3, Item 5. The MOU, the Option Agreement, the Construction
License Agreement, and the Parking License Agreement, were subsequently included
in the Amended and Restated Enforceable Obligations Payment Schedule submitted by
the former RDA and was not objected to by the Department of Finance.
Potential for Transit-Oriented Development: Yes.
Potential to Advance Planning Objectives of Successor Agency: This property is
essential to the planned TOD project at the Washington-National site. Please refer to
199Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
the Washington National Transit Oriented Development (TOD) project description on
the preceding page for additional information.
Contractual Agreements for Use: A Commitment Letter has been executed with Lowe
Enterprises to develop the TOD project.
Rentals or Leases: The property is subject to a 10 year lease with the Los Angeles
County Metropolitan Transit Authority to provide parking for the Exposition Light Rail
Station.
Gross Revenues Generated: $0.
Revenue Disposition: None.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: Light Manufacturing.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: A Phase I analysis was performed in 2005 prior to the
property being purchased. Additional soil borings were taken in 2011 at various site
locations in order to determine whether or not contamination existed.
Remediation Efforts: Not applicable.
200WASHINGTON -NATIONAL/LOWE PROJECT
4312-014-905
WASHINGTON BLVD. WASHINGTON BLVD.
VENICE BLVD. VENICE BLVD.
NATIONAL BLVD. NATIONAL BLVD.
201202 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 8843 Exposition Boulevard, Culver City, CA 90232.
Name: 8843 Exposition Blvd.
Parcel Data: APN 4312-014-914.
Lot Size: 2,500 s.f., 0.06 acres.
Current Zoning: Planned Development (PD).
Date of Acquisition: July 14, 2008.
Value of Property at time of Acquisition: $525,000.
Estimated Current Value: $20,650.
Appraised: Yes.
Purpose of Acquisition: Blight elimination / Transit-Oriented-Development.
Intended Use or Disposition: The Successor Agency intends to sell this property to
the developer, Lowe Enterprises.
Enforceable Obligation: Yes. Certain costs related to the proposed Project were
included on the Amended and Restated Enforceable Obligations Payment Schedule,
Page 2, Items 8 and 11; Page 3, Item 2; and Page 6, Items 13 through 20. The
following items were included on the Enforceable Obligations Payment Schedule by the
former RDA and were not objected to by the Department of Finance: Page 2, Items 10
and 16; and Page 3, Items 5 and 6. In addition, the following items were included on
the Draft Preliminary Recognized Obligations Payment Schedule by the former RDA
and were not objected to by the Department of Finance: Page 1, Item 15; Page 2, Items
10 and 27; and Page 3, Item 5. The MOU, the Option Agreement, the Construction
License Agreement, and the Parking License Agreement, were subsequently included
in the Amended and Restated Enforceable Obligations Payment Schedule submitted by
the former RDA and was not objected to by the Department of Finance.
Potential for Transit-Oriented Development: Yes.
Potential to Advance Planning Objectives of Successor Agency: This property is
essential to the planned TOD project at the Washington-National site. Please refer to
203Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
the Washington National Transit Oriented Development (TOD) project description on
the preceding page for additional information.
Contractual Agreements for Use: A Commitment Letter has been executed with Lowe
Enterprises to develop the TOD project.
Rentals or Leases: The property is subject to a 10 year lease with the Los Angeles
County Metropolitan Transit Authority to provide parking for the Exposition Light Rail
Station.
Gross Revenues Generated: $0.
Revenue Disposition: None.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: Light Manufacturing.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: A Phase I analysis was performed in 2005 prior to the
property being purchased. Additional soil borings were taken in 2011at various site
locations in order to determine whether or not contamination existed.
Remediation Efforts: Not applicable.
204WASHINGTON -NATIONAL/LOWE PROJECT
4312-014-914
WASHINGTON BLVD. WASHINGTON BLVD.
VENICE BLVD. VENICE BLVD.
NATIONAL BLVD. NATIONAL BLVD.
205206 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 8824 National Boulevard,
8825 National Boulevard,
8828 National Boulevard,
8801 Washington Boulevard,
8803 Washington Boulevard, Culver City, CA 90232.
Name: 8824, 8825 and 8828 National Blvd. and 8801 and 8803 Washington Blvd.
Parcel Data: APN 4312-014-915,
4312-014-916,
4312-014-917,
4312-014-918,
4312-014-919.
Lot Size: 24,289 s.f., 0.56 acres.
Current Zoning: Planned Development (PD).
Date of Acquisition: 4312-014-915: July 14, 2008,
4312-014-916: July 14, 2008,
4312-014-917: July 14, 2008,
4312-014-918: July 14, 2008,
4312-014-919: July 14, 2008.
Value of Property at time of Acquisition: $5,579,450.
Estimated Current Value: $200,627.
Appraised: Yes.
Purpose of Acquisition: Blight elimination / Transit-Oriented-Development.
Intended Use or Disposition: The Successor Agency intends to sell this property to
the developer, Lowe Enterprises.
Enforceable Obligation: Yes. Certain costs related to the proposed Project were
included on the Amended and Restated Enforceable Obligations Payment Schedule,
Page 2, Items 8 and 11; Page 3, Item 2; and Page 6, Items 13 through 20. The
following items were included on the Enforceable Obligations Payment Schedule by the
former RDA and were not objected to by the Department of Finance: Page 2, Items 10
207Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
and 16; and Page 3, Items 5 and 6. In addition, the following items were included on
the Draft Preliminary Recognized Obligations Payment Schedule by the former RDA
and were not objected to by the Department of Finance: Page 1, Item 15; Page 2, Items
10 and 27; and Page 3, Item 5. The MOU, the Option Agreement, the Construction
License Agreement, and the Parking License Agreement, were subsequently included
in the Amended and Restated Enforceable Obligations Payment Schedule submitted by
the former RDA and was not objected to by the Department of Finance.
Potential for Transit-Oriented Development: Yes.
Potential to Advance Planning Objectives of Successor Agency: This property is
essential to the planned TOD project at the Washington-National site. Please refer to
the Washington National Transit Oriented Development (TOD) project description on
the preceding page for additional information.
Contractual Agreements for Use: A Commitment Letter has been executed with Lowe
Enterprises to develop the TOD project.
Rentals or Leases: The property is subject to a 10 year lease with the Los Angeles
County Metropolitan Transit Authority to provide parking for the Exposition Light Rail
Station.
Gross Revenues Generated: $0.
Revenue Disposition: None.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: Light Manufacturing.
Environmental Contamination: Groundwater contamination currently exists on a
portion of the property from a leaking underground storage tank from a former gasoline
station.
Brownfield Site: Yes.
Environmental Studies: Yes.
Remediation Efforts: Active remediation of groundwater contamination is now
underway.
208WASHINGTON -NATIONAL/LOWE PROJECT
4312-014-915
4312-014-916
4312-014-917
4312-014-918
4312-014-919
WASHINGTON BLVD. WASHINGTON BLVD.
VENICE BLVD. VENICE BLVD.
NATIONAL BLVD. NATIONAL BLVD.
209210 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 8830-8834 National Boulevard, Culver City, CA 90232.
Name: 8830-8834 National Blvd.
Parcel Data: APN 4312-014-910.
Lot Size: 12,201 s.f., 0.28 acres.
Current Zoning: Planned Development (PD).
Date of Acquisition: August 15, 2006.
Value of Property at time of Acquisition: $2,028,633.
Estimated Current Value: $100,780.
Appraised: Yes.
Purpose of Acquisition: Blight elimination / Transit-Oriented-Development.
Intended Use or Disposition: The Successor Agency intends to sell this property to
the developer, Lowe Enterprises.
Enforceable Obligation: Yes. Certain costs related to the proposed Project were
included on the Amended and Restated Enforceable Obligations Payment Schedule,
Page 2, Items 8 and 11; Page 3, Item 2; and Page 6, Items 13 through 20. The
following items were included on the Enforceable Obligations Payment Schedule by the
former RDA and were not objected to by the Department of Finance: Page 2, Items 10
and 16; and Page 3, Items 5 and 6. In addition, the following items were included on
the Draft Preliminary Recognized Obligations Payment Schedule by the former RDA
and were not objected to by the Department of Finance: Page 1, Item 15; Page 2, Items
10 and 27; and Page 3, Item 5. The MOU, the Option Agreement, the Construction
License Agreement, and the Parking License Agreement, were subsequently included
in the Amended and Restated Enforceable Obligations Payment Schedule submitted by
the former RDA and was not objected to by the Department of Finance.
Potential for Transit-Oriented Development: Yes.
Potential to Advance Planning Objectives of Successor Agency: This property is
essential to the planned TOD project at the Washington-National site. Please refer to
211Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
the Washington National Transit Oriented Development (TOD) project description on
the preceding page for additional information.
Contractual Agreements for Use: A Commitment Letter has been executed with Lowe
Enterprises to develop the TOD project.
Rentals or Leases: The property is subject to a 10 year lease with the Los Angeles
County Metropolitan Transit Authority to provide parking for the Exposition Light Rail
Station.
Gross Revenues Generated: $0.
Revenue Disposition: None.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: Light Manufacturing.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: A Phase I analysis was performed in 2005 prior to the
property being purchased. Additional soil borings were taken in 2011 at various site
locations in order to determine whether or not contamination existed.
Remediation Efforts: Not applicable.
212WASHINGTON -NATIONAL/LOWE PROJECT
4312-014-910
WASHINGTON BLVD. WASHINGTON BLVD.
VENICE BLVD. VENICE BLVD.
NATIONAL BLVD. NATIONAL BLVD.
213214 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 8836 National Boulevard,
8838 National Boulevard, Culver City, CA 90232.
Name: 8836-8838 National Blvd.
Parcel Data: APN 4312-014-907,
4312-014-908.
Lot Size: 5,000 s.f., 0.11 acres.
Current Zoning: Planned Development (PD).
Date of Acquisition: 4312-014-907: July 14, 2006,
4312-014-908: July 14, 2006.
Value of Property at time of Acquisition: $1,200,000.
Estimated Current Value: $41,300.
Appraised: Yes.
Purpose of Acquisition: Blight elimination / Transit-Oriented-Development.
Intended Use or Disposition: The Successor Agency intends to sell this property to
the developer, Lowe Enterprises.
Enforceable Obligation: Yes. Certain costs related to the proposed Project were
included on the Amended and Restated Enforceable Obligations Payment Schedule,
Page 2, Items 8 and 11; Page 3, Item 2; and Page 6, Items 13 through 20. The
following items were included on the Enforceable Obligations Payment Schedule by the
former RDA and were not objected to by the Department of Finance: Page 2, Items 10
and 16; and Page 3, Items 5 and 6. In addition, the following items were included on
the Draft Preliminary Recognized Obligations Payment Schedule by the former RDA
and were not objected to by the Department of Finance: Page 1, Item 15; Page 2, Items
10 and 27; and Page 3, Item 5. The MOU, the Option Agreement, the Construction
License Agreement, and the Parking License Agreement, were subsequently included
in the Amended and Restated Enforceable Obligations Payment Schedule submitted by
the former RDA and was not objected to by the Department of Finance.
Potential for Transit-Oriented Development: Yes.
215Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Potential to Advance Planning Objectives of Successor Agency: This property is
essential to the planned TOD project at the Washington-National site. Please refer to
the Washington National Transit Oriented Development (TOD) project description on
the preceding page for additional information.
Contractual Agreements for Use: A Commitment Letter has been executed with Lowe
Enterprises to develop the TOD project.
Rentals or Leases: The property is subject to a 10 year lease with the Los Angeles
County Metropolitan Transit Authority to provide parking for the Exposition Light Rail
Station.
Gross Revenues Generated: $0.
Revenue Disposition: None.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: Light Manufacturing.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: A Phase I analysis was performed in 2005 prior to the
property being purchased. Additional soil borings were taken in 2011at various site
locations in order to determine whether or not contamination existed.
Remediation Efforts: Not applicable.
216WASHINGTON -NATIONAL/LOWE PROJECT
4312-014-907
4312-014-908
WASHINGTON BLVD. WASHINGTON BLVD.
VENICE BLVD. VENICE BLVD.
NATIONAL BLVD. NATIONAL BLVD.
217218 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 8839 Exposition Boulevard, Culver City, CA 90232
Name: 8839 Exposition Blvd.
Parcel Data: APN 4312-014-909.
Lot Size: 2,500 s.f., 0.06 acres.
Current Zoning: Planned Development (PD).
Date of Acquisition: July 21, 2006.
Value of Property at time of Acquisition: $625,450.
Estimated Current Value: $20,650.
Appraised: Yes.
Purpose of Acquisition: Blight elimination / Transit-Oriented-Development.
Intended Use or Disposition: The Successor Agency intends to sell this property to
the developer, Lowe Enterprises.
Enforceable Obligation: Yes. Certain costs related to the proposed Project were
included on the Amended and Restated Enforceable Obligations Payment Schedule,
Page 2, Items 8 and 11; Page 3, Item 2; and Page 6, Items 13 through 20. The
following items were included on the Enforceable Obligations Payment Schedule by the
former RDA and were not objected to by the Department of Finance: Page 2, Items 10
and 16; and Page 3, Items 5 and 6. In addition, the following items were included on
the Draft Preliminary Recognized Obligations Payment Schedule by the former RDA
and were not objected to by the Department of Finance: Page 1, Item 15; Page 2, Items
10 and 27; and Page 3, Item 5. The MOU, the Option Agreement, the Construction
License Agreement, and the Parking License Agreement, were subsequently included
in the Amended and Restated Enforceable Obligations Payment Schedule submitted by
the former RDA and was not objected to by the Department of Finance.
Potential for Transit-Oriented Development: Yes.
Potential to Advance Planning Objectives of Successor Agency: This property is
essential to the planned TOD project at the Washington-National site. Please refer to
219Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
the Washington National Transit Oriented Development (TOD) project description on
the preceding page for additional information.
Contractual Agreements for Use: A Commitment Letter has been executed with Lowe
Enterprises to develop the TOD project.
Rentals or Leases: The property is subject to a 10 year lease with the Los Angeles
County Metropolitan Transit Authority to provide parking for the Exposition Light Rail
Station.
Gross Revenues Generated: $0.
Revenue Disposition: None.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: Light Manufacturing.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: A Phase I analysis was performed in 2005 prior to the
property being purchased. Additional soil borings were taken in 2011 at various site
locations in order to determine whether or not contamination existed.
Remediation Efforts: Not applicable.
220WASHINGTON -NATIONAL/LOWE PROJECT
4312-014-909
WASHINGTON BLVD. WASHINGTON BLVD.
VENICE BLVD. VENICE BLVD.
NATIONAL BLVD. NATIONAL BLVD.
221222 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 8842 National Boulevard, Culver City, CA 90232.
Name: 8842 National Blvd.
Parcel Data: APN 4312-014-906.
Lot Size: 2,496 s.f., 0.06 acres.
Current Zoning: Planned Development (PD).
Date of Acquisition: June 21, 2006.
Value of Property at time of Acquisition: $550,000.
Estimated Current Value: $20,617.
Appraised: Yes.
Purpose of Acquisition: Blight elimination / Transit-Oriented-Development.
Intended Use or Disposition: The Successor Agency intends to sell this property to
the developer, Lowe Enterprises.
Enforceable Obligation: Yes. Certain costs related to the proposed Project were
included on the Amended and Restated Enforceable Obligations Payment Schedule,
Page 2, Items 8 and 11; Page 3, Item 2; and Page 6, Items 13 through 20. The
following items were included on the Enforceable Obligations Payment Schedule by the
former RDA and were not objected to by the Department of Finance: Page 2, Items 10
and 16; and Page 3, Items 5 and 6. In addition, the following items were included on
the Draft Preliminary Recognized Obligations Payment Schedule by the former RDA
and were not objected to by the Department of Finance: Page 1, Item 15; Page 2, Items
10 and 27; and Page 3, Item 5. The MOU, the Option Agreement, the Construction
License Agreement, and the Parking License Agreement, were subsequently included
in the Amended and Restated Enforceable Obligations Payment Schedule submitted by
the former RDA and was not objected to by the Department of Finance.
Potential for Transit-Oriented Development: Yes.
Potential to Advance Planning Objectives of Successor Agency: This property is
essential to the planned TOD project at the Washington-National site. Please refer to
223Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
the Washington National Transit Oriented Development (TOD) project description on
the preceding page for additional information.
Contractual Agreements for Use: A Commitment Letter has been executed with Lowe
Enterprises to develop the TOD project.
Rentals or Leases: The property is subject to a 10 year lease with the Los Angeles
County Metropolitan Transit Authority to provide parking for the Exposition Light Rail
Station.
Gross Revenues Generated: $0.
Revenue Disposition: None.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: Light Manufacturing.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: A Phase I analysis was performed in 2005 prior to the
property being purchased. Additional soil borings were taken in 2011 at various site
locations in order to determine whether or not contamination existed.
Remediation Efforts: Not applicable.
224WASHINGTON -NATIONAL/LOWE PROJECT
4312-014-906
WASHINGTON BLVD. WASHINGTON BLVD.
VENICE BLVD. VENICE BLVD.
NATIONAL BLVD. NATIONAL BLVD.
225226 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 8846 National Boulevard, Culver City, CA 90232.
Name: 8846 National Blvd.
Parcel Data: APN 4312-014-270,
4312-014-271,
4312-014-900,
4312-014-901,
4312-014-902,
4312-014-903,
4312-014-904.
Lot Size: 32,845 s.f., 0.75 acres.
Current Zoning: Planned Development (PD).
Date of Acquisition: 4312-014-270: March 27, 2006,
4312-014-271: March 27, 2006,
4312-014-900: March 27, 2006,
4312-014-901: March 27, 2006,
4312-014-902: March 27, 2006,
4312-014-903: March 27, 2006,
4312-014-904: March 27, 2006.
Value of Property at time of Acquisition: $4,429,701.
Estimated Current Value: $271,300.
Appraised: Yes.
Purpose of Acquisition: Blight elimination / Transit-Oriented-Development.
Intended Use or Disposition: The Successor Agency intends to sell this property to
the developer, Lowe Enterprises.
Enforceable Obligation: Yes. Certain costs related to the proposed Project were
included on the Amended and Restated Enforceable Obligations Payment Schedule,
Page 2, Items 8 and 11; Page 3, Item 2; and Page 6, Items 13 through 20. The
following items were included on the Enforceable Obligations Payment Schedule by the
former RDA and were not objected to by the Department of Finance: Page 2, Items 10
227Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
and 16; and Page 3, Items 5 and 6. In addition, the following items were included on
the Draft Preliminary Recognized Obligations Payment Schedule by the former RDA
and were not objected to by the Department of Finance: Page 1, Item 15; Page 2, Items
10 and 27; and Page 3, Item 5. The MOU, the Option Agreement, the Construction
License Agreement, and the Parking License Agreement, were subsequently included
in the Amended and Restated Enforceable Obligations Payment Schedule submitted by
the former RDA and was not objected to by the Department of Finance.
Potential for Transit-Oriented Development: Yes.
Potential to Advance Planning Objectives of Successor Agency: This property is
essential to the planned TOD project at the Washington-National site. Please refer to
the Washington National Transit Oriented Development (TOD) project description on
the preceding page for additional information.
Contractual Agreements for Use: A Commitment Letter has been executed with Lowe
Enterprises to develop the TOD project.
Rentals or Leases: The property is subject to a 10 year lease with the Los Angeles
County Metropolitan Transit Authority to provide parking for the Exposition Light Rail
Station.
Gross Revenues Generated: $0.
Revenue Disposition: None.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: Light Manufacturing.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: A Phase I analysis was performed in 2005 prior to the
property being purchased. Additional soil borings were taken in 2011at various site
locations in order to determine whether or not contamination existed.
Remediation Efforts: Not applicable.
228WASHINGTON -NATIONAL/LOWE PROJECT
4312-014-270
4312-014-271
4312-014-900
4312-014-901
4312-014-902
4312-014-903
4312-014-904
WASHINGTON BLVD. WASHINGTON BLVD.
VENICE BLVD. VENICE BLVD.
NATIONAL BLVD. NATIONAL BLVD.
229230 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 9300 Culver Boulevard, Culver City, CA 90232.
Name: Parcel B / Combined/Hudson Project.
Parcel Data: APN: 4206-029-934.
Lot Size: 50,727 s.f., 1.16 acres.
Current Zoning: Commercial Downtown (CD).
Date of Acquisition: Assembled 1981 through 1989.
Value of Property at time of Acquisition: $1,728,947.
Estimated Current Value: $2,000,000 without existing entitlements or $4,200,000 with
existing entitlements.
Appraised: Yes.
Purpose of Acquisition: Blight elimination; Development of Parcel B project.
Intended Use or Disposition: The Successor Agency intends to sell this property to
the developer, Combined Properties/Hudson Pacific.
Enforceable Obligation: Yes. The DDA and certain costs related to these parcels were
included on the Amended and Restated Enforceable Obligations Payment Schedule
and were not objected to by the Department of Finance as listed on: Page 3, Item 2;
and Page 5, Items 2 through 7. The following items were included on the Enforceable
Obligations Payment Schedule and were not objected to by the Department of Finance:
Page 2, Item 10; and Page 3, Items 5, 27 and 28. In addition, the following items were
included on the Draft Preliminary Recognized Obligations Payment Schedule and were
not objected to by the Department of Finance: Page 2, Items 10, and 27; and Page 3,
Items 27 and 28.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: This property is
essential for the completion of the Town Plaza development project in downtown Culver
City that was initiated in 1996. Please refer to the 9300 Culver Boulevard (Parcel B)
project description on the preceding page for additional information.
231Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Contractual Agreements for Use: A Disposition and Development Agreement exists
with Combined Properties/Hudson Pacific requiring them to build Parcel B, the town
plaza expansion and public parking beneath.
The Property is also contractually encumbered with a License Agreement with the
adjacent Culver Hotel allowing specified use of the Property.
Rentals or Leases: None.
Gross Revenues Generated: $65,000.
Revenue Disposition: Revenue Disposition: $3,749 landscaping, operations and
maintenance.
Net Revenue: $61,251(excluding staff costs).
History of Previous Development Proposals: None.
Previous Development Activity: A Phase One study of the project is complete, which
included relocating all utilities from the site and reconfiguring adjacent roadways in
order to construct the Town Plaza expansion and the subterranean parking level of
Parcel B.
Environmental Contamination: Lead.
Brownfield Site: No.
Environmental Studies: A 2008 Phase Two study concluded that some lead
contaminated soil is present which, when removed during subterranean parking
excavation, is required to be handled and disposed of properly.
Remediation Efforts: Not applicable.
232PARCEL B COMBINED/HUDSON PROJECT
4206-029-934
CULVER BLVD. CULVER BLVD.
WASHINGTON BLVD. WASHINGTON BLVD.
233234 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 3433 Wesley Street, Culver City, CA 90232.
Name: Wesley Parking Lot.
Parcel Data: APN 4312-028-901.
Lot Size: 2,613 s.f., 0.06 acres.
Current Zoning: Industrial General (IG).
Date of Acquisition: July 20, 2009.
Value of Property at time of Acquisition: $395,000.
Estimated Current Value: $105,000.
Appraised: Yes (April 30, 2013).
Purpose of Acquisition: To provide parking for businesses in the area.
Intended Use or Disposition: The Successor Agency intends to sell this property to
the owner of 3431 Wesley Street as parking for the building, pursuant to a Purchase
and Sale Agreement approved February 14, 2011.
Enforceable Obligation: Yes. Certain costs related to this property were included on
the Amended and Restated Enforceable Obligations Payment Schedule, Page 2, Item
17; and Page 13, Item 4. The following items were included on the Enforceable
Obligations Payment Schedule by the former RDA and were not objected to by the
Department of Finance: Page 2, Item 2. In addition, the following items were included
on the Draft Preliminary Recognized Obligations Payment Schedule by the former RDA
and were not objected to by the Department of Finance: Page 2, Items 10 and 24.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: This property
provides parking for a building that was constructed without parking onsite. Most of the
other buildings in the immediate area have parking onsite. The provision of parking for
this property enhances its economic vitality.
235Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Contractual Agreements for Use: A long term lease executed in 1950 exists with the
adjacent property owner. The lease was revised in the 1990’s in order to allow the
adjacent property owner to improve the property with new paving, landscape and
striping. Pursuant to the revised lease, the cost of the improvements were credited
towards future rent payments. If the lease is terminated prematurely, the Successor
Agency must pay the adjacent property owner the balance of any remaining credit that
exists. The existing credit balance as of June 1, 2013, is approximately $2,200 and is
reduced by $350 per month as payment for the property lease.
Rentals or Leases: See above.
Gross Revenues Generated: $0, due to the $2,200 credit balance.
Revenue Disposition: None.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: Light manufacturing.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: No studies have been performed.
Remediation Efforts: Not applicable.
236NATIONAL BLVD. NATIONAL BLVD.
WASHINGTON BLVD. WASHINGTON BLVD.
WESLEY ST. WESLEY ST.
WESLEY PARKING LOT
4312-028-901
237238 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
IV. Properties to be Used to Fulfill Enforceable Obligations
A. Baldwin Site / Axis-Mundi Project:
1. 12803 Washington Boulevard.
APN 4236-021-902.
2. 12811 Washington Boulevard.
APN 4236-021-903.
3. 12813 Washington Boulevard.
APN 4236-021-900.
4. 12823 Washington Boulevard.
APN 4236-021-901.
B. Kirk Douglas Theatre:
5. 9820 Washington Boulevard.
(Kirk Douglas Theatre)
APN 4207-006-914.
C. Ivy Substation Lease:
6. 9070 Venice Boulevard.
(Ivy Substation Lease)
APN 4206-030-902.
D. Media Park Lease:
7. 9254 Venice Boulevard.
(Media Park Lease from City of Los Angeles)
APN 4206-034-906,
4206-030-902 (portion).
239Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 12803 Washington Boulevard, Culver City, CA 90066.
Name: 12803 Washington Blvd.
Parcel Data: APN 4236-021-902.
Lot Size: 5,772 s.f., 0.13 acres.
Current Zoning: Commercial General (CG).
Date of Acquisition: December 1, 2005.
Value of Property at time of Acquisition: $925,000.
Estimated Current Value: $691,480.
Appraised: Yes, April 30, 2013 ($119.80 per square foot).
Purpose of Acquisition: Blight elimination / Mixed-use development Axis-Mundi
‘Baldwin Project’.
Intended Use or Disposition: The Successor Agency intends to use this property to
fulfill an enforceable obligation with Axis-Mundi.
Enforceable Obligation: Yes. The DDA and certain costs related to this property were
included on the Amended and Restated Enforceable Obligations Payment Schedule,
Page 3, Item 2; and Page 6, Items 10 and 11. The following items were included on the
Enforceable Obligations Payment Schedule by the former RDA and were not objected
to by the Department of Finance: Page 2, Item 10; and Page 3, Items 5 and 6. In
addition, the following items were included on the Draft Preliminary Recognized
Obligations Payment Schedule by the former RDA and were not objected to by the
Department of Finance: Page 2, Items 10 and 27; and Page 3, Item 5.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: The development
is intended to catalyze future private development, which will revitalize this portion of
Culver City. This development includes a public parking component that will satisfy
parking needs of businesses in the area.
240Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Contractual Agreements for Use: This property is subject to a Disposition and
Development Agreement that contractually obligates the property to Axis Mundi’s
‘Baldwin Project’.
Rentals or Leases: Short term seasonal rental for private businesses (tree lot).
Gross Revenues Generated: Approx. $2,000 annually for the four parcels comprising
the project area:
12803 Washington Blvd.,
12811 Washington Blvd.,
12813 Washington Blvd.,
12823 Washington Blvd.
Revenue Disposition: $2,991 operations and maintenance costs annually for the four
parcels comprising the project area:
12803 Washington Blvd.,
12811 Washington Blvd.,
12813 Washington Blvd.,
12823 Washington Blvd.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: Commercial (motel).
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: No studies have been performed.
Remediation Efforts: Not applicable.
241BALDWIN SITE/AXIS-MUNDI
4236-021-902
MEIER ST. MEIER ST.
MOORE ST. MOORE ST.
WASHINGTON BLVD. WASHINGTON BLVD.
242243 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 12811 Washington Boulevard, Culver City, CA 90066.
Name: 12811 Washington Blvd.
Parcel Data: APN 4236-021-903.
Lot Size: 4,996 s.f., 0.11 acres.
Current Zoning: Commercial General (CG).
Date of Acquisition: January 11, 2006.
Value of Property at time of Acquisition: $945,000.
Estimated Current Value: $598,516.
Appraised: Yes, April 30, 2013 ($119.80 per square foot).
Purpose of Acquisition: Blight elimination / Mixed-use development Axis-Mundi
‘Baldwin Project’.
Intended Use or Disposition: The Successor Agency intends to use this property to
fulfill an enforceable obligation with Axis-Mundi.
Enforceable Obligation: Yes. The DDA and certain costs related to this property were
included on the Amended and Restated Enforceable Obligations Payment Schedule,
Page 3, Item 2; and Page 6, Items 10 and 11. The following items were included on the
Enforceable Obligations Payment Schedule by the former RDA and were not objected
to by the Department of Finance: Page 2, Item 10; and Page 3, Items 5 and 6. In
addition, the following items were included on the Draft Preliminary Recognized
Obligations Payment Schedule by the former RDA and were not objected to by the
Department of Finance: Page 2, Items 10 and 27; and Page 3, Item 5.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: The development
is intended to catalyze future private development, which will revitalize this portion of
Culver City. This development includes a public parking component that will satisfy
parking needs of businesses in the area.
244Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Contractual Agreements for Use: This property is subject to a Disposition and
Development Agreement that contractually obligates the property to Axis Mundi’s
‘Baldwin Project’.
Rentals or Leases: Short term seasonal rental for private businesses (tree lot).
Gross Revenues Generated: Approx. $2,000 annually for the four parcels comprising
the project area:
12803 Washington Blvd.,
12811 Washington Blvd.,
12813 Washington Blvd.,
12823 Washington Blvd.
Revenue Disposition: $2,991 operations and maintenance costs annually for the four
parcels comprising the project area:
12803 Washington Blvd.,
12811 Washington Blvd.,
12813 Washington Blvd.,
12823 Washington Blvd.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: Commercial (motel).
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: A 2004 Phase 1 report concluded that no contamination
exists.
Remediation Efforts: Not applicable.
245BALDWIN SITE/AXIS-MUNDI
4236-021-903
MEIER ST. MEIER ST.
MOORE ST. MOORE ST.
WASHINGTON BLVD. WASHINGTON BLVD.
246247 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 12813 Washington Boulevard, Culver City, CA 90066.
Name: 12813 Washington Blvd.
Parcel Data: APN 4236-021-900.
Lot Size: 4,996 s.f., 0.11 acres.
Current Zoning: Commercial General (CG).
Date of Acquisition: March 2, 2005.
Value of Property at time of Acquisition: $760,000.
Estimated Current Value: $598,516.
Appraised: Yes, April 30, 2013 ($119.80 per square foot).
Purpose of Acquisition: Blight elimination / Mixed-use development Axis-Mundi
‘Baldwin Project’.
Intended Use or Disposition: The Successor Agency intends to use this property to
fulfill an enforceable obligation with Axis-Mundi.
Enforceable Obligation: Yes. The DDA and certain costs related to this property were
included on the Amended and Restated Enforceable Obligations Payment Schedule,
Page 3, Item 2; and Page 6, Items 10 and 11. The following items were included on the
Enforceable Obligations Payment Schedule by the former RDA and were not objected
to by the Department of Finance: Page 2, Item 10; and Page 3, Items 5 and 6. In
addition, the following items were included on the Draft Preliminary Recognized
Obligations Payment Schedule by the former RDA and were not objected to by the
Department of Finance: Page 2, Items 10 and 27; and Page 3, Item 5.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: The development
is intended to catalyze future private development, which will revitalize this portion of
Culver City. This development includes a public parking component that will satisfy
parking needs of businesses in the area.
248Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Contractual Agreements for Use: This property is subject to a Disposition and
Development Agreement that contractually obligates the property to Axis Mundi’s
‘Baldwin Project’.
Rentals or Leases: Short term seasonal rental for private businesses (tree lot).
Gross Revenues Generated: Approx. $2,000 annually for the four parcels comprising
the project area:
12803 Washington Blvd.,
12811 Washington Blvd.,
12813 Washington Blvd.,
12823 Washington Blvd.
Revenue Disposition: $2,991 operations and maintenance costs annually for the four
parcels comprising the project area:
12803 Washington Blvd.,
12811 Washington Blvd.,
12813 Washington Blvd.,
12823 Washington Blvd.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: Commercial (motel).
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: A 2005 Phase 1 report concluded that no contamination
exists.
Remediation Efforts: Not applicable.
249BALDWIN SITE/AXIS-MUNDI
4236-021-900
MEIER ST. MEIER ST.
MOORE ST. MOORE ST.
WASHINGTON BLVD. WASHINGTON BLVD.
250251 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 12823 Washington Boulevard, Culver City, CA 90066.
Name: 12823 Washington Blvd.
Parcel Data: APN 4236-021-901.
Lot Size: 8,318 s.f., 0.19 acres.
Current Zoning: Commercial General (CG).
Date of Acquisition: March 1, 2005.
Value of Property at time of Acquisition: $960,000.
Estimated Current Value: $996,489.
Appraised: Yes, April 30, 2013 ($119.80 per square foot).
Purpose of Acquisition: Blight elimination / Mixed-use development Axis-Mundi
‘Baldwin Project’.
Intended Use or Disposition: The Successor Agency intends to use this property to
fulfill an enforceable obligation with Axis-Mundi.
Enforceable Obligation: Yes. The DDA and certain costs related to this property were
included on the Amended and Restated Enforceable Obligations Payment Schedule,
Page 3, Item 2; and Page 6, Items 10 and 11. The following items were included on the
Enforceable Obligations Payment Schedule by the former RDA and were not objected
to by the Department of Finance: Page 2, Item 10; and Page 3, Items 5 and 6. In
addition, the following items were included on the Draft Preliminary Recognized
Obligations Payment Schedule by the former RDA and were not objected to by the
Department of Finance: Page 2, Items 10 and 27; and Page 3, Item 5.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: The development
is intended to catalyze future private development, which will revitalize this portion of
Culver City. This development includes a public parking component that will satisfy
parking needs of businesses in the area.
252Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Contractual Agreements for Use: This property is subject to a Disposition and
Development Agreement that contractually obligates the property to Axis Mundi’s
‘Baldwin Project’.
Rentals or Leases: Short term seasonal rental for private businesses (tree lot).
Gross Revenues Generated: Approx. $2,000 annually for the four parcels comprising
the project area:
12803 Washington Blvd.,
12811 Washington Blvd.,
12813 Washington Blvd.,
12823 Washington Blvd.
Revenue Disposition: $2,991 operations and maintenance costs annually for the four
parcels comprising the project area:
12803 Washington Blvd.,
12811 Washington Blvd.,
12813 Washington Blvd.,
12823 Washington Blvd.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: Commercial (motel).
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: A 2005 Phase 1 report concluded that no contamination
exists.
Remediation Efforts: Not applicable.
253BALDWIN SITE/AXIS-MUNDI
4236-021-901
MEIER ST. MEIER ST.
MOORE ST. MOORE ST.
WASHINGTON BLVD. WASHINGTON BLVD.
254255 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 9820 Washington Boulevard, Culver City, CA 90232.
Name: Kirk Douglas Theatre.
Parcel Data: APN 4207-006-914.
Lot Size: 14,400 s.f., 0.33 acres.
Current Zoning: Commercial Downtown (CD).
Date of Acquisition: May 5, 1985.
Value of Property at time of Acquisition: $1,593,771.
Estimated Current Value: $1,593,771.
Appraised: No.
Purpose of Acquisition: Blight elimination and commercial revitalization opportunity.
Redevelopment project – adaptive reuse of existing historic theater shell to create live
performance theatre to eradicate blight and create downtown destination for theatre and
restaurant patrons.
Intended Use or Disposition: The Successor Agency intends to use this property to
fulfill enforceable obligations – Sixty-year lease to Center Theatre Group.
Enforceable Obligation: Yes. Certain costs related to this property were included on
the Amended and Restated Enforceable Obligations Payment Schedule, Page 13,
Items 3. The following items were included on the Enforceable Obligations Payment
Schedule by the former RDA and were not objected to by the Department of Finance:
Page 2, Item 10; and Page 3, Item 5. In addition, the following items were included on
the Draft Preliminary Recognized Obligations Payment Schedule by the former RDA
and were not objected to by the Department of Finance: Page 2, Items 10 and 27.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: This property is
the site of the Kirk Douglas Theatre, an adaptive reuse redevelopment project of the
former theater at this location. This property is an essential element of economic
256Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
development of downtown Culver City. The Successor Agency requires retention of this
property for enforceable obligations (leased to Center Theatre Group).
Contractual Agreements for Use: DDA with Center Theatre Group dated May 23,
2001, executed October 9, 2001, First Implementation Agreement, effective January 6,
2003; Second Implementation Agreement, effective August 26, 2003.
Rentals or Leases: Sixty (60) year lease to Center Theatre Group for ‘Parcel A’ with
one five (5) year option, effective October 9, 2001, and ten (10) year lease for ‘Parcel
B’.
Gross Revenues Generated: $0 (forgivable loan to Center Theatre Group).
Revenue Disposition: Operations and Maintenance, staff costs.
Net Revenue: $0.
History of Previous Development Proposals: Redevelopment project to rebuild and
renovate prior theatre shell into contemporary live performance theatre within existing
historical building shell.
Previous Development Activity: Adaptive reuse of existing theatre shell.
Environmental Contamination: A 1994 asbestos removal project was performed. No
knowledge of further contamination exists.
Brownfield Site: No.
Environmental Studies: No studies have been performed.
Remediation Efforts: Not applicable.
257KIRK DOUGLAS THEATRE
4207-006-915
WASHINGTON BLVD. WASHINGTON BLVD.
CULVER BLVD. CULVER BLVD.
DUQUESNE AVE. DUQUESNE AVE.
258259 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 9070 Venice Boulevard, Los Angeles, CA 90034.
Name: Ivy Substation Lease.
Parcel Data: APN 4206-034-906.
Lot Size: 19,578 s.f., 0.45 acres.
Current Zoning: City of Los Angeles, Open Space OS-1XL.
Date of Acquisition: June 8, 1987.
Value of Property at time of Acquisition: $0.
Estimated Current Value: $0 (Leased from City of Los Angeles).
Appraised: No.
Purpose of Acquisition: Improvement of Historic building for adaptive reuse
redevelopment project to create live performance theater.
Intended Use or Disposition: The Successor Agency intends to use this property to
fulfill enforceable obligations – Lease from the City of Los Angeles and lease to The
Actors’ Gang.
Enforceable Obligation: Yes. Certain costs related to this property were included on
the Amended and Restated Enforceable Obligations Payment Schedule, Page 10, Item
15; Page 11, Item 1; and Page 13, Items 1 and 25. The following items were included
on the Enforceable Obligations Payment Schedule by the former RDA and were not
objected to by the Department of Finance: Page 2, Item 10; and Page 3, Items 5 and 6.
In addition, the following items were included on the Draft Preliminary Recognized
Obligations Payment Schedule by the former RDA and were not objected to by the
Department of Finance: Page 2, Items 10 and 27; and Page 3, Item 5.
Potential for Transit-Oriented Development: No.
Potential to Advance Planning Objectives of Successor Agency: This property is
essential to the redevelopment and revitalization of downtown by providing a venue for
live theater performances.
260Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Contractual Agreements for Use: Lease with City of Los Angeles is forty (40) year
lease with ten (10) year option effective June 8, 1987, expires June 8, 2037.
Rentals or Leases: Sub-leased to The Actors’ Gang, effective July 5, 2005,
superseded with lease effective July 1, 2010 through June 30, 2016.
Gross Revenues Generated: $1 annually from sub-lease.
Revenue Disposition: $1 operations and maintenance, staff costs.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: None.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: No studies have been performed.
Remediation Efforts: Not applicable.
261IVY SUBSTATION LEASE
4236-030-902
262263 Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
PROPERTY SUMMARY
Address: 9254 Venice Boulevard, Los Angeles, CA 90034.
Name: Media Park Lease.
Parcel Data: APN 4206-030-902,
Portion of 4206-034-906.
Lot Size: 47,207 s.f., 1.08 acres.
Current Zoning: City of Los Angeles, partly Open Space OS-1XL, partly Commercial
C2-1.
Date of Acquisition: 4206-030-902: June 8, 1987,
4206-034-906: June 12, 1987.
Value of Property at time of Acquisition: $0; no-fee lease for restricted use only.
Estimated Current Value: $0.
Appraised: No.
Purpose of Acquisition: Improve and maintain public open space in downtown area;
provide leisure and recreation activities location.
Intended Use or Disposition: The Successor Agency intends to use property to fulfill
enforceable obligation – Lease with the City of Los Angeles.
Enforceable Obligation: Yes. Certain costs related to this property were included on
the Amended and Restated Enforceable Obligations Payment Schedule, Page 10,
Item10; Page 11, Item 2; Page 13, Items 7 and 24; and Page 14, Item 10. The following
items were included on the Enforceable Obligations Payment Schedule by the former
RDA and were not objected to by the Department of Finance: Page 2, Item 10; and
Page 3, Items 5 and 6. In addition, the following items were included on the Draft
Preliminary Recognized Obligations Payment Schedule by the former RDA and were
not objected to by the Department of Finance: Page 2, Items 10 and 27; and Page 3,
Item 5.
Potential for Transit-Oriented Development: No.
264Successor Agency to the Culver City Redevelopment Agency
Long Range Property Management Plan
Potential to Advance Planning Objectives of Successor Agency: This property is
used to provide public open space and leisure and recreational activities opportunities in
the downtown area.
Contractual Agreements for Use: Forty (40) year lease with ten (10) year option
effective June 12, 1987, expires June 12, 2037.
Rentals or Leases: No sub-lease. Sub-lease use restricted to leisure and recreational
activities. Lease prohibits net profit from sub-lease. All net proceeds must be used to
maintain and improve Media Park.
Gross Revenues Generated: None.
Revenue Disposition: Operations and maintenance, staff costs.
Net Revenue: $0.
History of Previous Development Proposals: None.
Previous Development Activity: None.
Environmental Contamination: No knowledge of contamination exists.
Brownfield Site: No.
Environmental Studies: No studies have been performed.
Remediation Efforts: Not applicable.
265MEDIA PARK LEASE
4206-034-906
portion of 4236-030-902
CULVER BLVD. CULVER BLVD.
VENICE BLVD. VENICE BLVD.
266267
Attachments to Public Parking Facilities
1. 9099 Washington Boulevard.
(Ince Parking Structure)
2. 3846 Cardiff Avenue.
(Cardiff Parking Structure)
3. 3844 Watseka Avenue,
3848 Watseka Avenue,
3864 Watseka Avenue.
(Watseka Parking Structure)
4. 10401 Virginia Avenue,
10555 Virginia Avenue,
10601 Virginia Avenue.
(Virginia Parking Lot)
5. 9415 Venice Boulevard,
9425 Venice Boulevard.
(Venice Parking Lot)
6. 3713 Robertson Boulevard,
3715 Robertson Boulevard.
(Robertson Parking Lot #1)
7. 3727 Robertson Boulevard.
(Robertson Parking Lot #2)
8. 3757 Robertson Boulevard.
(Robertson Parking Lot #3)
9. 12601 Washington Boulevard.
(Washington Parking Lot)
10. 3825 Canfield Avenue.
(Canfield Parking Lot)
268CO L LEGE A V
OREGO N AV
WA G NER ST
LINDBL ADE ST
B ARM AN AV
BRA DD O CK DR
WA G NER ST
LINDBL ADE ST
B ARM AN AV
COOMBS A V
HER BERT ST
EAS T B L
HURON A V
A L ETT A AV
GIRARD AV
ROS ABELL S T
17 VELVET LN
S TEVENS
CR
AUG US TI N L N
ST . JAM E S D R
JACKS O N AV
W ASHING TON BL
W ASHING TON PL
W ASHING TON BL
B R A D DOCK DR
G RAND VI EW BL
BO ISE A V
WA SATCH AV
COLO NIAL AV
M I D WAY A V
STAR
CR
HUN T L EY A V
B ERR Y M AN A V
COOL IDG E AV
M CL AUG HL IN AV
TUL LER A V
HURON AV
CU LV ER B L
A S T A I R E A V
SKELTO N CR
CO OG AN C R
MARIETTA AV
W ASHING TON BL
ARI ZO N A AV
CO M M O NWEA LTH AV
FARRAG UT DR
MIL TO N AV
TILDEN AV
G ARL AN D D R
P
ALM CO U
R T WY
M C CO NNEL L BL
M I LDRED AV
CHASE AV
CAMPBELL DR
K ENYO N AV
GLO BE AV
GAR LAND D R
P U RDUE AV
VENICE BL
CULVER BL
M A YTIM E
BAL D WIN AV
O C E AN
S T UDI O DR
JA
S MIN E A V
VIR GIN IA
P EARSO N ST
LEAHY ST
F AR RAG UT DR
P ARK A V
DR|101010|13
14
VENICE BL
R A I N TR E E C R
13
CORNER RD
13
M AYT I ME LN
L N
A V
B R A D DOCK DR
G ARFIEL D AV
COOMBS A V
MEN T O NE A V
LE B OU R G ET AV
MOT OR A V
VIN T O N A V
JA S MI N E A V
W ASHING TON BL
L O UISE A V
CULVER BL
K EYSTONE AV
S U MM ERTI ME L N
MOTO R AV
V I NTO N AV
JACKS O N AV
REV ERE PL
LE BOUR GET AV
MENTONE AV|1010101010|HO L L O W
11
10|101010|LINCO LN AV
DUQUESNE A V
INDIAN W OOD RD
S U MM ERTI ME L N
K I NSTO N AV
FR ANKL I N AV
FARR AGU T D R
LA SALL E AV
FA RRA GU T DR
E M E R A L D W Y
K E Y S TO N E A V
JO RD AN W Y
15|10 10|19
18
12
16
17
WE SL EY ST
HUTC HISON AV
HIG UE RA ST
HELM S AV
S C HAE FER S T
HAY D E N AV
E XPO S I TI ON BL
S H E R B O URNE DR
CAROLI NE AV
HELM S AV
LANDM ARK ST
NAT IONAL BL
HOKE AV
CANFI E L D AV
INCE BL
K RUEG ER ST
HU BBARD ST
C A R S ON ST
WIL L A T AV
SEPULVEDA BL
JEFFERSON BL
VAN B U REN PL
WE SL EY ST
LINDBL ADE ST
P O I NS ET TIA C T
LUCERNE AV
FARRAG UT DR
L UC ERN E AV
HA YDEN PL
C LARIN GT ON AV
HU
G H ES AV
DELM A S TER
CARDIF F A V
MAIN ST
IRVING PL
L AFA YETT E PL
HIGUERA ST
M ADISO N AV
ROBERTS O N BL
WA T SEKA AV
JEFFERSON BL
J EAN PL
JAS MI N
E AV
S H E R B O URNE DR
CATT ARAUGUS AV
HELM S AV
W E S T WOOD B L
K AREN
CR
WY
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RHODA WY
K I NSTO N AV
NO RT HG AT E
S T
S T
D RA KE WOO D
WH I T B U RN
GALVIN
FL A XTON ST
S T
ST EV ER ST
KE LM OR E S T
W Y
LUGO WY
T ELL EFSON RD
M OLO NY RD
HAYT ER AV
RYA N DALE DR
P ATOM DR
OR VI L L E S T
S EG RELL WY
RUD M A N DR
GR AYR ID G E DR
P U RDUE AV
S AWTELL E BL
WO O L FO RD ST
MC DONA LD S T
BL A NC O W Y
J A N IS A NN A V
COT A ST
DO B SO N WY
KIN S TON AV
E L R I N CON WY
STE VE R C T
BER NAR DO RD
EVE W AR D RD
L I NDA
HILL RD
S T E P H O N T R
STUBB S LN
D E SH I R E P L
CLARM ON PL
C U LV IE W ST
K AL EIN DR
CULVER PARK DR
NOR TH
E ST E R IN AWY
Y O U N GWOR TH RD
FA IR B A N K S
W Y
B AL LON A LN
L A NTAN A LN
MICH A EL AV
MO ORE ST
A L LA RD
LYCEUM AV
MEIER ST
B EET HOVEN ST
1 SAL E M VIL LAGE DR
3 SAL E M VIL LAGE CT
CENTINELA AV
M A RC AS E L AV
EL END A ST
T U
L LER AV
A R V EE ST
GLO BE AV
TUL LER AV
GLO BE AV
HEPB URN CR
LOUI SE AV
A T L AN T I C AV
HURON AV
7 CO PPERFI E L D L N
4 T IM BER LAKE L N
9 SHO WBOAT LN
2 SAL E M VIL LAGE P L
5 WI LDERNESS L N
10 RAINBOW'S END
12 CIM MARO N LN
6 HU CK FI NN L N
8 G AS L IGH T L N
18 CASCADE CT
14 ST. LOU IS CT
15 BUTT ERF IELD CT
11 SHOWBO A T PL
16 BOUNT Y LN
19 TARA TR
13 RAINT REE CR
KEN SI N GTON R D
COOL IDG E AV
B ERR Y M AN A V
MINERVA AV
B L EDSOE AV
A L BRIGH T AV
B ENT LEY AV
TI L D EN AV
HARTER A V
CHARLES AV
WA D E ST
GARF IELD AV
HUNT LEY PL
HE RBERT W Y
G RA ND
VIE W BL
CO M M O NWEA LTH
C R
GARF IELD AV
HERBE R T ST
W ASHING TON PL
MIT CHEL L AV
F RA NKL IN A V
OVERLAND A V
MATTESON AV
SEPULVEDA BL
P I GOT T DR
B L EDSOE AV
COOMBS A V
RD
S TON YC R E E K
A V
P IC K FOR D
MA C HAD O R D
DR
RANCH RD
C R AN K S RD
HER I T AGE P L
F R AN KL IN AV
COM MO NWEALTH AV
CEN T ER ST
HARTER AV
MIDW A Y AV
CULVER CENTER DR
WE STWO OD BL
SP
AD PL
P
ROS PE CT A
V
MAT TESON AV
SAWTEL LE B L
A L BRIGH T AV
L AM A
RR AV
C OR INTH AV
SAWTELLE BL
MC LAUGH LIN AV
ING LEW O O D BL
L INDB
L A DE D R
TO M P K I N S WY|10101010101010|0 0.09 5 0.19 0.28 5 0.38 0.04 75
Mil es
±
02/2 8/20 13 | CU LVER CITY GIS
1 inch = 997 feet
PUBLIC PARKING FACILITIES
1. Ince Parking Structure 9099 Washington boulevard
2. Watseka Parking Structure 3864 Watseka Ave.
3. Cardiff Lot 3846 Cardiff Ave.
4. Canfield Lot 3825 Canfield Ave
5. Virginia Lot 10401-10601 Virginia Ave.
6. West Washington Lot 12601 Washington Blvd
7. 3727 Robertson Blvd Lot
8. 3713-3715 Robertson Blvd
9. 3757 Robertson Blvd Lot
10. 9415-25 Venice Blvd|1010
1010 10|ATTACHMENT 1_Public Parking Facilities
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Attachment No. 1
Page 1 of 1
ATTACHMENT NO. 1
SITE MAP
ATTACHMENT 2_Public Parking Facilities
303AT 2
09/30/10 |1010|st
Draft
Attachment No. 2
Page 1 of 1
ATTACHMENT NO. 2
LEGAL DESCRIPTION
Real property in the City of Culver City, County of Los Angeles, State of California, described as
follows:
LOT 1 IN BLOCK 20 OF TRACT 2444, IN THE CITY OF CULVER CITY, AS PER MAP RECORDED IN
BOOK 24 PAGES 5 TO 7 INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF
SAID COUNTY. EXCEPT THEREFROM THE INTEREST AS RESERVED IN THE DEED EXECUTED BY BO. C.
ROOS, SR., AND RECORDED FEBRUARY 3, 1967 IN BOOK D3550 PAGE 115, OFFICIAL RECORDS,
WHICH DEED RECITES AS FOLLOWS; "RESERVING UNTO GRANTOR HEREIN, HIS HEIRS, AND ASSIGNS,
ALL OF SAID GRANTOR’S INTEREST BEING AND UNDIVIDED ONE-HALF INTEREST IN AND TO ALL OIL,
GAS, HYDROCARBON, MINERALS, AND ASSOCIATED SUBSTANCES NOW OR HEREAFTER IN OR
UNDER OR RECOVERABLE FROM THAT PORTION OF THE REAL PROPERTY HEREINABOVE
DESCRIBED, WHICH LIES BELOW A DEPTH OF 500 FEET BENEATH THE SURFACE OF SAID REAL
PROPERTY, BUT WITHOUT ANY RIGHT TO ENTER UPON OR USE ANY PORTION OF SAID REAL
PROPERTY OR OF THE SUBSURFACE THEREOF TO A DEPTH OF 500 FEET FOR ANY PURPOSES.
APN: 4206-029-028
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Final Execution 1-15-11
Attachment No. 4
Page 1 of 1
ATTACHMENT NO. 4
SCHEDULE OF PERFORMANCE
1. Execution of Owner Participation by the
Agency. The Agency shall hold a public
meeting and consider approval of the Owner
Participation Agreement (“OPA”).
As soon as feasible after Participant’s
execution and submission of the
Agreement to the Agency.
2. Submission – Plans and Drawings. The
Participant shall submit to the Agency for
approval the Plans and Drawings provided for
in Section 203 of the OPA.
Within sixty (60) days after the execution
of the OPA by the Participant.
3. Approval – Plans and Drawings. The Agency
shall approve or disapprove the Plans and
Drawings in accordance with Section 204 of
the OPA.
Within twenty (20) days after submission
of the Plans and Drawings to the Agency.
4.
Submission – Project Budget. The Participant
shall submit a Project Budget for the
rehabilitation/redevelopment of the
Improvements and the Site pursuant to
Section 205 of the OPA.
Concurrently with its submission of the
executed OPA for Agency approval
consideration.
5. Approval – Project Budget. The Agency shall
approve or disapprove the Project Budget.
On or before approval consideration of
the OPA.
6. Commencement of Rehabilitation/
Redevelopment. The Participant shall
commence rehabilitation/redevelopment of
the Improvements and the Site.
No later than thirty (30) days after
Agency approval of the Project Budget,
Evidence of Financing and the Plans and
Drawings.
7. Completion of Rehabilitation/Redevelopment.
The Participant shall complete the
rehabilitation/redevelopment of the
Improvements and the Site.
Within one (1) calendar year after
Agency execution of the OPA.
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! (f}g ~
E4fi!Hl71
This page is part of your document- DO NOT DISCARD
20111337175
11111111111111111111111111111111111111111111111111111111111111111 Pg~:::
Recorded/Filed in Official Records
Recorder's Office, Los Angeles County,
California
LEADSHEET
201110030010082
00004755662
003541601
SEQ:
01
10/03/11 AT 12:58PM
DAR - Counter (Hard Copy)
THIS FORM IS NOT TO BE DUPLICATED
FEES: 0.00
TAXES: 0.00
OTHER: 0. 00
PAID: 0.00
I
ATTACHMENT 2_Public Parking Facilities
451OFFICIAL BUSINESS
Document entitled to free
recording per Government Code
Sections 6103 and 27383
Recording Requested By
And When Recorded Return to:
CULVER CITY REDEVELOPMENT AGENCY
9770 Culver Boulevard
Culver City, California 90232
Attention: Asst, Executive Director
(Space Above Line for Recorder's Use Only)
OPTION AGREEMENT
FOR
PERPETUAL EASEMENT
THIS OPTION AGREEMENT FOR PERPETUAL EASEMENT (this "Agreement") is
entered into as of September ~, 2011 by and among the Los Angeles County Metropolitan
Transportation Authority ("LACMTA"), the Culver City Redevelopment Agency ("Agency"),
and the City of Culver City ('"City"), with reference to the following:
RECITALS
A, The Exposition Metro Line Construction Authority ("Authority") is a public entity
created by the California State Legislature pursuant to Public Utilities Code ("PUC")
section 132600 for the purpose of awarding and overseeing final design and construction
contracts for the completion of the Los Angeles- Exposition light rail transit project from
Metro Rail station at 7th and Flower streets in the City of Los Angeles to the Dmvntown
area of the City of Santa Monica ("EXPO LRT Project"),
8, City is a municipal corporation created and empowered in accordance with its charter and
the constitution ofthe State of-California,
C LACMTA is a public entity created by the California State Legislature pursuant to PUC
sections 130050,2 et, seq., for many purposes including, but not limited to, the design,
construction, and operation of rail and bus transit systems and other transportation
facilities in Los Angeles County,
Option Agreement
1 of25
14481 !28.9
2
ATTACHMENT 2_Public Parking Facilities
452D. Agency is a public body, corporate and politic, exercising governmental functions and
powers, and organized and existing under Chapter 2 of the Community Redevelopment
Law of the State of California, and is carrying out the Culver City Redevelopment Project
("Redevelopment Project") in which a portion of the EXPO LRT Project is to be located.
E. Phase 1 of the EXPO LR T Project is an approximately 9 mile light rail line extending
southward from Downtown Los Angeles to Exposition Park, and then westward along
Exposition Bonlevard to Venice Boulevard/Robertson Boulevard, and traversing through
and ending at the aerial Culver City Station.
F. The EXPO LRT Project Culver City Station and ancillary improvements being
constructed in connection therewith are illustrated on Exhibit "A" attached hereto and
incorporated herein by reference ("EXPO Station"). The EXPO Station is located within
the LACMTA-owned 150-foot-wide parcel that is located between Venice Boulevard and
Washington Boulevard ("LACMTA Parcel"). The LACMTA Parcel is legally described
on Exhibit "B" attached hereto and incorporated herein by reference.
G. LACMTA, Agency, Authority and City entered into that certain Memorandum of
Understanding executed as of January 18, 2011 ("MOU"), which concerns the EXPO
Station an<:! provides for the undertaking of certain expenditures and re)ated cmmnitmeJ;J.tS
to enhance the implementation of the respective projects of the parties to the MOU in a
manner consistent with the interests of such parties.
H. City and Agency are in the process of carrying out the redevelopment of a portion of the
Redevelopment Project on real property which abuts the location of the EXPO Station,
which portion of the Redevelopment Project is referred to as the "Washington National
Project". The Washington National Project is anticipated to ·be located within City
owned property as shown on Exhibit "C-1" and as legally described on Exhibit "C-2"
attached hereto and incorporated herein by reference (collectively, the "Triangle
Property"), and a portion of the LACMT A Parcel. The proposed location of the
Washington National Project, and Agency's/City's proposed use of a portion of the
LACMTA Parcel, as currently contemplated by the Agency/City, is depicted on the
concept site plan attached hereto as Exhibit "D" and incorporated herein by reference.
I. City/Agency propose to construct a parking garage facility to serve the Washington
National Project ("Parking Garage"), the development of subterranean portions of which
required the Authority to provide additional physical support to the EXPO Station and its
foundations. Pursuantto the MOU, the Agency agreed to reimburse the Authority for the
costs of such additional support, and the Authority has constructed the EXPO Station
with the additional supports to accommodate the Parking Garage in reliance thereon.
J. LACMTA is willing to grant Agency or City an option to acquire an easement over the
northerly 91 feet of the LACMTA Parcel, including surface, air (not to exceed five stories
above grade), and subterranean portions thereof, as illustrated on Exhibit "E-1" attached
Option Agreement
2 of25
14481128.9
ATTACHMENT 2_Public Parking Facilities
453hereto and as legally described on Exhibit "E-2" attached hereto (collectively, the
"Easement Area"), to construct, operate, maintain, repair, and reconstruct parking uses,
transit plaza uses, and residential and commercial uses provided that such residential and
commercial uses may not exceed in the aggregate 20,000 square feet, and of such 20,000
square feet not more than 5,000 square feet may be in the below-grade portions of the
Easement Area, all of which shall be subject to a reservation of parking and other rights
by LACMTA, all as described in more detail in the Easement Agreement (defined
hereinafter) and subject to the terms and conditions in the Easement Agreement, in
consideration of the grants to LACMTA as described below. The hereinafter defined
Parties agree that nothing in this Agreement shall limit or preClude in any way any use of
the Easement Area for residential and commercial uses pursuant to a lease of the
Easement Area which may be subsequently entered into as set forth in Section 12 below,
and that any such lease, to the extent agreed to by the Parties in accordance with Section
12 below, would not be subject to the height, or square footage restrictions of the
Easement Area.
K. In consideration of the grant of the option by LACMTA over the Easement Area, Agency
and City are each willing to (i) grant LACMT A temporary parking rights in the Triangle
Property, subject to rights to relocate such temporary parking to a parking garage located
at 9099 Ince Boulevard in Culver City, pursuant to the "Parking License Agreement" (as
defined in the Easement Agreement); (ii) grant LACMTA permanent parking rights in the
Parking Garage pursuant to the "REA" (as defined below); and (iii) grant Authority a
construction license to construct a temporary parking lot on the Triangle Property, as
described in the "Construction License Agreement" (as defined in the Easement
Agreement).
L. The Parties hereby acknowledge that prior to execution and delivery of this Agreement,
each of the following has occurred: (i) the Authority has been repaid $275,000.33, as
reimbursement for costs incurred by the Authority in connection with the redesign of the
EXPO Station to accommodate the Parking Garage, and has been repaid $301,515, as
reimbursement for a portion of the additional costs incurred by the Authority to construct
the redesigned EXPO Station so as to accommodate the Parking Garage, which amount
specifically relates to additional steel costs for the redesigned EXPO Station; and (ii) City
has executed and delivered to Authority the Construction License Agreement and Agency
and City have executed and delivered to LACMTA the Parking License Agreement. The
remaining balance of the additional costs incurred by EXPO in connection with the
redesign and construction of the EXPO Station so as to accommodate the Parking Garage
(such additional costs, the "Excess Costs"), in the amount of $2,588,157 ("Remaining
Balance Amount") shall have been paid to the Authority concurrently with the execution
and recordation of this Agreement, and LACMTA shall have no obligation to comply
with the terms and conditions contained herein unless and until the Authority has
received the Remaining Balance Amount. Once the Remaining Balance Amount is
reimbursed to the Authority, without limiting any other obligations under this Agreement,
neither the City nor the Agency shall have any additional or other obligation to disburse
any funds to or on behalf of Authority under the MOU for purposes of reimbursement
Option Agreement
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454respecting the design and/or construction of the redesigned EXPO Station, and payment
of the Remaining Balance Amount shall satisfy any and all obligations of City and/or
Agency under the MOU to pay for or reimburse Authority for the Excess Costs.
Notwithstanding the foregoing, the City and Agency's obligation to pay the Excess Costs
and the Remaining Balance Amount as described herein are separate and apart from the
City and Agency's obligations to provide $4,000,000 towards the Project, including,
without limitation the Redesigned EXPO Station, pursuant to that certain Financial
Contribution Agreement for Phase I of Metro Exposition Light Rail Transit Project dated
as of September ~], 2011, by and between City and LACMTA (the "Funding
Agreement"). and nothing herein is intended to or shall be deemed to modify, change or
amend the Funding Agreement.
M. In furtherance of the MOU, LACMT A, Agency and City desire to enter into this
Agreement. This Agreement is the "Option Agreement" referenced in the MOU.
LACMTA, Agency and City are herein referred to individually as a "Party" and
collectively as the "Parties."
NOW, THEREFORE, in consideration of the recitals set forth above, the covenants,
conditions and agreements contained herein, and for other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, City, Agency and LACMTA, intending
to be· legally bound, hereby agree as follows:
1. Grant .of Option. Upon and subject to all of the terms and conditions set forth herein,
LACMT A hereby grants to Agency or City an option (the "Option") to acquire an
perpetual easement respecting the Easement Area, to construct, use, operate, maintain,
repair, and reconstruct parking uses, transit plaza uses, and residential and commercial
uses provided that such residential and commercial uses may not exceed in the aggregate
20,000 square feet, and of such 20,000 square feet not more than 5,000 square feet may
be in the below-grade portions of the Easement Area, all of which shall be subject to the
reservation of parking and other rights by LACMTA, all as described in more detail in
the Easement Agreement and subject to the terms and conditions in the Easement
Agreement. The Parties agree that nothing in this Agreement shall limit or preclude in
any way any use of the Easement Area for residential and commercial uses pursuant to a
lease of the Easement Area which may be subsequently entered into aS set forth in
Section 12 below, and that any such lease, to the extent agreed to by the Parties in
accordance with Section 12 below, would not be subject to the height, or square footage
restrictions of the Easement Area. As used herein, "Easement Agreement" shall mean an
easement agreement to be executed by Agency or City and LACMTA and to be
substantially in the form attached hereto as Exhibit "F", which is hereby incorporated
herein by reference.
2. Option Period. The term of the Option (the "Option Period") shall be a period of twenty
(20) years commencing on the date of this Agreement, subject to earlier termination in
accordance with the terms of this Agreement. If neither the Agency nor the City
exercises the Option prior to expiration of the Option Period in accordance with Sections
4 and 5 of this Agreement, then the Option and this Agreement shall each automatically
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455expire and be of no further force or effect, and LACMTA shall, upon and after such
expiration, no longer be obligated to convey any easements in the Easement Agreement
to the Agency or City. Within ten (I 0) business days after the expiration of the Option
Period, Agency and City will deliver to LACMT A a fully executed and acknowledged
quitclaim deed in recordable form attached as Exhibit "G-1" (the "Agency/City
Quitclaim Deed") quitclaiming all each of Agency and City's respective interests in the
LACMTA Parcel, and LACMTA will deliver to Agency and City a fully executed and
acknowledged quitclaim deed in recordable form attached as Exhibit "G-2" (the
"LACMTA Quitclaim Deed") quitclaiming all LACMTA's interests in the Triangle
Property.
3. Termination of this Agreement and the Option.
a. By Agency or City. Agency and City shall each have the right to terminate this
Agreement and the Option granted herein in accordance with the terms and
provisions of this Section 3. Such termination may occur at any time after the
date that is the earlier of (i) five (5) years after the date that the construction of the
"Temporary Parking Spaces" (as defined in the Parking License Agreement) has
been completed, and (ii) seven (7) years after the date of this Agreement,
provided that (x) Agency or City provides nine (9) months' prior written notice of
the termination to Lf\CMTA and (y) Agency and City have, prior to such
tennination notice and pursuant and subject to the terms of the Parking License
Agreement, timely cured any material default by Agency or City, as applicable,
with respect to provision of the Temporary Parking Spaces or the "Replacement
Spaces" (as defined in the Parking License Agreement), subject to force majeure
provisions in the Parking License Agreement (provided, however, this clause a(y)
shall not apply to the extent that Agency and City have not received written
notice(s) of the applicable default by Agency or City, as applicable, in accordance
with the notice requirements of the Parking License Agreement (including with
respect to font size and boldness requirements). In the event that either Agency or
City terminates this Agreement and/or the Option, this Agreement and the Option
shall be terminated among all Parties.
b. By LACMT A. LACMTA shall have the right to terminate this Agreement and the
Option granted herein in accordance with the terms and provisions of this Section
3. Such termination may occur at any time the Agency and City have, pursuant
and subject to the terms of the Parking License Agreement, failed to timely cure
any material default of Agency or City, as applicable, with respect to providing
the Temporary Parking Spaces or the Replacement Spaces, subject to force
majeure provisions in the Parking License Agreement; provided that (i)
LACMTA provides thirty (30) days prior written notice of the termination to
Agency and City; and (ii) Agency and City have received written notice(s) of the
applicable default by Agency or City, as applicable, with respect to providing the
Temporary Parking Spaces or the Replacement Spaces in accordance with the
terms and provisions of the Parking License Agreement (including with respect to
font size and boldness requirements). In the event that LACMTA terminates this
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456Agreement and/or the Option, this Agreement and the Option shall be terminated
among all Parties.
c. Effect of Expiration or Termination. Upon expiration of the Option Term or the
termination of this Agreement and/or the Option, all of the following shall apply:
1. LACMTA shall have the right to use the LACMTA Parcel in its sole and
absolute discretion and the City and the Agency shall have no further
rights in or to the LACMT A Parcel. The City and the Agency shall have
the right to use the Triangle Property in their sole and absolute discretion
and the Authority and LACMTA shall have no further rights to the
Triangle Property, except as set forth in the Parking License Agreement.
ii. Neither Agency nor City shall have any further duty to provide the
Temporary Spaces, the Replacement Spaces, or the "EXPO Spaces" (as
defined in the Easement Agreement) to LACMTA, and the Parking
License Agreement shall terminate on the terms and conditions set forth
therein;
m. LACMTA shall no longer be obligated to convey the easements set forth
in the Easement Agreement, or any other easements, to the Agency or
City; .
IV. Agency and City will deliver to LACMTA a dnly executed and
acknowledged ,Agency/City Quitclaim Deed in recordable form
quitclaiming all of its interest in and to the LACMTA Parcel;
v. LACMTA will deliver to Agency or City, as applicable, a duly executed
and acknowledged LACMTA Quitclaim Deed in recordable fonn
quitclaiming all of its interest in and to the Triangle Property; and
VJ. Notwithstanding any tennination of this Agreement or the Option, Agency
and City shall not be entitled to a refund of any amounts repaid as
referenced in Recital M above.
4. Exercise of Option. Any time during the Option Period, and provided the Option
Conditions set forth in Section 5, below, have occuned, either Agency or City shall have
the right to exercise the Option by delivering written notice to LACMTA stating that
Agency or City (as applicable) elects to exercise the Option ("Option Notice"). The
Agency Executive Director or Assistant Executive Director shall each have the right to
exercise the Option on behalf of the Agency without further authorization from the
Agency Board and the City Manager shall have the right to exercise the Option on behalf
of the City without further authorization from the City Council. The Option can only be
exercised once by either the City or the Agency, whichever first exercises the Option.
Once the Option has been exercised by either the Agency or the City, the Option will no
longer be available and will be deemed to have terminated as to the non-exercising Party.
Option Agreement
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4575. Option Conditions. Agency or City may only exercise the Option if, at the time of such
exercise each of the following conditions precedent ("Conditions Precedent") have been
satisfied or waived by LACMTA (it being understood that the Parties antici.pate such
conditions precedent will be satisfied at different times):
a. Agency and City have, pursuant and subject to the tem1s of the Parking License
Agreement, timely cured any material default of Agency or City, as applicable,
with respect to providing the Temporary Parking Spaces or the Replacement
Spaces, subject to force majeure provisions in the Parking License Agreement;
provided, however, this shall not be a Condition Precedent to exercise of the
Option to the extent that Agency and City have not received written notice(s) of
the applicable default by Agency or City, as applicable, with respect to the
provision of the Temporary Parking Spaces and the Replacement Spaces in
accordance with the terms and provisions of the Parking License Agreement
(including with respect to font size and boldness requirements).
b. Construction dravvings for the Parking Gru·age, including the Isolation Wall (as
defined below portion thereof, and all other improvements illld ancillary uses to
be constructed within the Easement Area, including without limitation residential,
commercial illld transit plaza uses (collectively, "Ancillary Uses"), shall have
been 1 00% complet~d, and such drawings shall have \Jeen approved by any
governmental agency having jurisdiction thereover and by the Authority 311d/or
LACMTA as follows:
1. LACMTA 311d Authority shall have the right to reasonably approve plans
and specifications for the Parking Garage and Ancillary Uses based
primarily on the following criteria: (a) whether there is an impact on the
structural integrity of the EXPO LRT Project; (b) whether there is more
thilll a de minimus or trivial impact to operation illld maintenance of the
EXPO LRT Project; (c) the reasonable location illld proximity, including,
without limitation, the ease of access of the EXPO Spaces for station
access for LACMTA patrons; (d) confirmation that the Parking Garage
illld Ancillary Uses are designed and will be constructed within the
Easement Area; (e) the provision of bicycle racks and lockers in the
Parking Garage in reasonably close proximity to the EXPO Station or in
the surface area of the Easement Area; provided, however, City or Agency
shall provide a linkage, subject to Authority and LACMTA prior approval,
between the bicycle racks and lockers illld illlY permanent clean mobility
center facilities or similar facilities if constructed by Authority under the
EXPO Station structure; (f) whether illly pedestriilll connections
constructed as part of the Washington National Project between the EXPO
Station illld tl1e Washington National Project, at grade and/or at the station
platform level, are compatible with or appropriate for tl1e EXPO LRT
Project; (g) if the Washington National Project includes podi11111 parking
or illly structure directly adjacent to the EXPO Station, the exterior design
and architectural finish of such structure is compatible with the EXPO
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458Station; (h) whether the design is in compliance with the terms of this
Agreement and all legal requirements.
11. Once LACMTA has approved design drawings and specifications at the
30% completion level for the Parking Garage (the "30% Drawings") based
on the criteria set forth above in subsection (i) above, and provided
LACMTA has at least sixty (60) days to review such 30% Drawings, the
approval of subsequent levels of design and construction plans shall also
be based on the criteria set forth above, and shall be governed by the
"deemed approved" procedures set forth in Exhibit "I". LACMTA will
expeditiously review and not unreasonably withhold approval of such
Parking Garage subsequent levels of design and plans, and agrees to
review and approve or disapprove such plans within 30 days of submittal
by or on behalf of City or Agency. Any disapproval of plans shall be
accompanied by a WJitten statement delivered to City and Agency within
said 30 day period specifYing detailed reasons for any such disapproval.
c. All permits and approvals required by any governmental agency having
jurisdiction thereover for construction of the Parking Garage and Ancillary Uses
shall have been obtained and Agency or City shall have complied with, or shall
have caused compliance with, all applicable laws, mles and regulations,
including, without limitation, full compliance with the California ·Environmental
Quality Act, for the construction of the Parking Garage and Ancillary Uses.
d. Agency or City shall have provided LACMTA with reasonably satisfactory
evidence that the Agency, City and/or its developer has sufficient fimding or other
financial anangements in place so as to be able to pay for the cost of the
construction and completion of the Parking Garage and the Isolation Wall
described in Article 5 of the Easement Agreement.
e. Agency and/or City (as applicable) shall have provided LACMTA or escrow
holder one original (counterparts signatures are acceptable) of the Easement
Agreement executed by the Agency and/or City, in the same form as attached
hereto as Exhibit "F" and one original (counterparts signatures are acceptable) of
a Reciprocal Easement Agreement ("REA") contemplated by Section I 0 of this
Agreement, below.
f. The amounts owed to the Authority respecting construction of the EXPO Station
shall have been repaid prior to the date of this Agreement, as referenced in Recital
Mabove.
g. The Party exercising the Option shall also hold title to the Triangle Parcel, or shall
have entered into agreements with such title holder to ensure that the Party
exercising the Option has the ability to perform its obligations under the Option
Agreement.
Option Agreemenl
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4596. Consideration for Option. The Option granted herein and LACMTA's execution of the
Easement Agreement and the hereinafter defined REA is in consideration of the following
payments and other consideration, and shall not require any additional payment or other
consideration to the Authority or LACMT A:
a. The construction of the Isolation Wall as set forth in the Easement Agreement;
b. The execution by City and Agency and delivery to LACMTA of the Parking
License Agreement;
c. The execution by City and Agency and delivery to LACMTA of the REA; and
d. The execution by City and Agency and dell very to Authority of the Construction
License Agreement.
7. Condition of Title to Easement Area. Prior to entering into the. MOU, the Agency and
City each satisfied itself that title to the Easement Area was in an acceptable condition,
provided there are no liens, encmnbrances, easements or other exceptions to title except
those shown as Exceptions C, 1, 2, 3, 4 and 5 on Schedule B of that certain Chicago Title
Preliminary Report, Order Number 910065529-X49 dated July 28, 2011 ("Approved
Title Condition") (which Preliminary Report is attached hereto as Exhibit "H" and
Incorporated herein by reference). LACMT A shall not take any action that 'will
adversely affect the Approved Title Condition as applicable to the Easement Area
without the prior written consent of Agency or City, which consent shall not be
unreasonably withheld, conditioned or delayed. Further, if the Agency or City exercises
the Option, LACMTA shall deliver, at no cost to the Agency or City, easement rights in
the Easement Area with title thereto not adversely different from the Approved Title
Condition or as may otherwise be approved in writing by City or Agency, as applicable,
acting through the Agency Executive Director, the Agency Assistant Executive Director,
or the City Manager, which approval shall not be unreasonably withheld, conditioned or
delayed; provided, however, nothing in this Agreement shall require LACMTA to
provide or pay tor title insurance insuring the City or Agency's easement interest in the
Easement Area. Notwithstanding the foregoing, LACMTA shall in no circumstances be
required to remove any encumbrances, easements or other exceptions to title respecting
the Easement Area except to the extent that the same result or arise from the actions or
omissions ofLACMTA.
8. Condition of Easement Area.
a. As used in this Agreement, "Hazardous Materials", means any substance, material
or waste which is or becomes regulated by the United States government, the
State of California, or any local or other governmental authority, including,
without limitation, any material, substance or waste which is (i) defined as a
"hazardous waste", "acutely hazardous waste", "restricted hazardous waste", or
"extremely hazardous waste" under Sections 25115,25117 or 25122.7, or listed
pursuant to Section 25140 of the California Health and Safety Code; (ii) defined
as a "hazardous substance" under Section 25316 of the California Health and
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460Safety Code; (iii) defined as a "hazardous material", "hazardous substance", or
"hazardous waste" under Section 25501 of the California Health and Safety Code;
(iv) defined as a "hazardous substance" under Section 25281 of the California
Health and Safety Code; (v) petroleum; (vi) asbestos; (vii) a polychlorinated
biphenyl; (viii) listed under Article 9 or defined as "hazardous" or "extremely
hazardous" pursuant to Article I I of Title 22 of the California Code of
Regulations, Chapter 20; (ix) designated as a "hazardous substance" pursuant to
Section 311 of the Clean Water Act (33 U.S.C. Section 1317); (x) defmed as a
"hazardous waste" pursuant to Section I 004 of the Resource Conservation and
Recovery Act (42 U.S. C. Section 6903); (xi) defined as a "hazardous substance"
pursuant to Section 101 of the Comprehensive Environmental Response,
Compensation and Liability Act (42 U.S.C. Section 9601); or (xii) any other
substance, whether in the form of a solid, liquid, gas or any other form
whatsoever, which by any governmental requirements either requires special
handling in its use, transportation, generation, collection, storage, treatment or
disposal, or is defined as "hazardous" or is harmful to the enviromnent or capable
of posing a risk of injury to public health and safety.
b. AS-IS, WHERE-IS. Agency and City each acknowledges and agrees that, except
as expressly set forth herein, LACMTA makes no representation or warranty
whatsoev~r, whether express or implied or arising by operation. of l.aw, with
respect to any interest in the Easement Area or any portion thereof conveyed
pursuant to this Easement Agreement. EXCEPT AS EXPRESSLY SET FORTH
HEREIN, AGENCY AND CITY EACH AGREES THAT THE INTERESTS IN
THE EASEMENT AREA (AND/OR ANY PORTION THEREOF) ARE BEING
TRANSFERRED AND CONVEYED TO (AND ACCEPTED BY) THE
AGENCY OR CITY IN THEIR THEN-EXISTING CONDITION, AS IS,
WHERE IS, WITH ALL FAULTS, AND WITHOUT ANY REPRESENTATION
OR WARRANTY WHATSOEVER, WHETHER EXPRESS OR IMPLIED OR
ARISING BY OPERATION OF LAW. All representations and warranties not
expressly set forth herein are hereby disclaimed by LACMTA and waived by
Agency and City. Without limiting the generality of the foregoing, except as
expressly set forth herein, LACMTA makes no representation, warranty or
guarantee of any kind, either express or implied, with respect to merchantability,
marketability, habitability, fitness for a particular use or purpose, the value or
accuracy of information provided respecting the Easement Area, prospects for
future development, use, or occupancy, zoning and/or permitted uses, of all or any
portion of the Easement Area, and Agency and City each acknowledges and
agrees that:
1. Prior to the execution, delivery and recordation of the Easement
Agreement, Agency and City each will have had the opportunity to make
its own independent investigation of the Easement Area and all other
aspects of this transaction, including, without limitation, the financial
value of the Easement and projected future income and expenses for the
Easement Area, and will have relied entirely thereon and on the advice of
Option Agreement
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461Option Agreement
14481128.9
its independent consultants (if any) in entering into the Easement
Agreement, and not on any infonnation or material supplied by or on
behalfofLACMTA.
n. Prior to the execution, delivery and recordation of the Easement
Agreement, Agency and City will each have reviewed all instnnnents,
records and documents which Agency and City each deems appropriate or
advisable to review in cmmection with the Easement Area and the
Easement Agreement, and Agency and City will each have determined
that the information and data contained therein or evidenced thereby was
satisfactory to Agency and City.
iii. Agency and City each acknowledges that the Easement Area may or may
not contain Hazardous Materials and that except as expressly set forth
herein LACMT A makes no representation or warranty to Agency or City
regarding the presence or absence of any 'Hazardous Materials in, on, or
under the Easement Area. It shall be Agency and City's responsibility to
examine the Easement Area and to review such reports or other documents
it deems necessary to satisfY itself as to the presence or absence of any
such Hazardous Materials. Except as expressly set forth herein, if any
Haz ligations under this Agreement, except that Agency and City shall each
have the right from time to tin1e to assign in whole or in part any or all of its
respective rights under this Agreement to any public and/or private persons or
entities as deemed by the Agency or City, as applicable, to be· necessary or
desirable in order to implement the Redevelopment Project, provided however,
such assignment shall not be effective unless and until the Agency or City, as
applicable, receives LACJy!TA's prior written approval for any, private persof\S or
entities which approval shall be provided usirig reaso~ble commercial standards,
such as credit worthiness and experience in the field and which approval shall not
be unreasonably conditioned, withheld, or delayed. LACMTA's consent to any
such assignment shall not relieve such assignee of the obligation to obtain
LACMTA's consent to each subsequent assignment, and any assignment shall be
subject to the assignee assuming all of the assignor's obligations under this
Agreement.
L Time of Essence. Time is expressly made of the essence with respect to the
performance by each Party of each and every obligation and condition of this
Agreement.
rn. Cotmteroarts. This Agreement may be signed in multiple counterparts which,
when signed by all parties, shall constitute a binding Agreement.
n. Exhibits Incorporated by Reference. All exhibits attached to this Agreement are
incorporated into this Agreement by reference.
o. Further Actions. Each Party agrees to sign such other and further instruments and
documents and take such other and further actions as may be reasonably
necessary or proper in order to accomplish the intent of this Agreement.
p. Recordation. This Agreement shall be recorded against the LACMT A Parcel and
the Triangle Property.
Option Agreement
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473q. Default. Failure or delay by any Party to perfonn or comply with any term or
provision of this Agreement constitutes a default under this Agreement. The
injured Party shall give written notice of default to the Party in default, specifYing
the default complained of by the injured Party. The defaulting Party must cure,
correct or remedy such failure or delay within ten (I 0) days after receipt of such
written notice of default. Notwithstanding the foregoing, if the non-defaulting
Party notifies the defaulting Party that such default is an urgent matter relating to
public health and safety, and such matter is an urgent matter relating to public
health and safety, rather than the notice period set forth in the preceding sentence,
the notice period shall be forty-eight ( 48) hours following receipt of the notice.
Failure or delay in giving such notice of default shall not constitute a waiver of
any default, nor shall it change the time of default. Delays by any Party in
asserting any of its rights and remedies shall not deprive any Party of its right to
institute and maintain any actions or proceedings which it may deem necessary to
protect, assert or enforce any such rights or remedies.
r. Specific Performance. Subject to the notice and cure provision of Section q.,
above, if any Party defaults hereunder, the non-defaulting Parties, each at its
option, may pursue any rights or remedies available at law or in equity, including,
without limitation specific performance.
s. Partial Invaiidity. If any term or provision or portion thereof of this Agreement or
the application thereof to any person, entity, or circumstance shall, to any extent,
be invalid or unenforceable, the remainder of this Agreement, or the application
of such term or provision or portion thereof to persons or entities or circumstances
other than those as to which it is held invalid or unenforceable, shall not be
affected thereby, and each such term and provision of this Agreement shall be
valid and be enforced to the fullest extent permitted by law.
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Option Agreement
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474IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their
duly authmized representatives as of the dates indicated below:
LOS ANGELES COUNTY METROPOLITAN
TRANSPORTATION AUTHORITY
"~
. (Arthur T.Lea1l
Chief Executive Officer
APPROVED AS TO FORM:
ANDREA SHERIDAN ORDIN
Date: 1(25J/.tr
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[signatures on following page]
Option Agreement
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475CULVER CITY REDEVELOPMENT AGENCY
By: --:--c~~~-----L-l_-_-:_-:_• -----::::--- I}
John Nachbar Date: ~14/n
Executive Director
APPROVED AS TO FORM:
By:~ o"f<~
Murray . Kane
Kane Ballmer & Berkman
Agency General Counsel
CITY OF CULVER CITY
By: -.Jc9J-.L.t--
--,.Jo-ohn=Nc"'a'-ch:"cb_ar __________ D=-at-e:~at,fi4-/JI
City Manager
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476STATE OF CALIFORNIA
COUNTY OF los AvfkS
OnCkp-kvnber l'i;ZDII before me, ~- fjj (/i_rrl ~---------
a Notary Public, personally appeared :]Ohn Jo f' ~o , who proved to me
on the basis of satisfactory evidence to be the-personw-whose name(&j-is/are.subscribed to the
within instrument and acknowledged to me that he/~y executed the same in hislh~r
authorized capacity~; and that by his!h&rfttfeir signature(~;-)- on the instrument the person(sj, or
the entity upon behalf of which the person(&) acted, executed the instrument.
f·certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
-~ . . . ... . . "1
WITNESS my hand and official seal.
~ __ .: --.!t~Jum-
5 • COMMISSION # 1&73934
iii WSANGELES COUNTY
_ Uyeomm. eo:p, JanuatY 10,2014.
Signature 12 Aff41L
(Seal)
STATE OF CALIFORNIA
COUNTY OF Los ,!l-li}jeiP s
On Seci-ey(JherJJ/;20!1 before me, 7). Gz'--f{;;rc/ ---------------------,
a Notary Publlc, personally appeared ::t;;h v1 4/a_ f' h bo.C , who proved to me
on the basis of satisfactory evidence to be the person(sY\vhose name(sj--is/are--subscribed to the
within instrument and acknowledged to me that he/shelthey executed the same in his!he!:4heir
authorized capacity(ies-}, and that by hislh~ir signature(st on the instrun1ent the person.(£}, or
the entity upon behalf of which the person(s] acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
SOo~re l24f2
(Seal)
14481128.9
ATTACHMENT 2_Public Parking Facilities
477STATE OF CALIFORNIA
COUNTY OF ;("<) ~ . _ .
On 1-:ft-!Ak!uA. }.q
1
UJ fl bef~e me,~~ 11_ f0' ~ t § f~
a Notary Public, personally appeared f'au t!~ f~r ~ w~ed to me
on the basis of satisfactory evidence to be the person( whose namefs) is/are subscribed to the
within instrument and acknowledged to me that he/sfis/tfiey executed the same in. his/her/their
authorized capacity(ies.), and that by his/her/their signature(;,-) on the instrument the person~), or
the entity upon behalf of which the personEs-) acted, executed the instrument.
I certifY under PENALTY OF PERJURY w1der the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Signature._:_·_:_dr---11-.::_~ __ lz.:_· ~~~~"--;1----
(Seal)
STATE OF CALIFORNIA
COUNTY OF ____ _
On before me, ,
a Notary Public, personally appeared , who proved to me
on the basis of satisfactory evidence to be the person( s) whose name( s) is/are subscribed to the
within instrument and acknowledged to me that he/she/they executed the same in his/her/their
authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or
the entity upon behalf of which the person(s) acted, executed the instrument.
I certifY ooder PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Signature'----~-------------
(Seal)
14481128.9
28
ATTACHMENT 2_Public Parking Facilities
478Exhibit "A"~ EXPO Station Drawing
OPTION AGREEMENT
EXHIBIT LIST
Exbibit "B" ~ LACMTA Parcel Legal Description
Exhibit "C-I"~ Depiction of Triangle Property
Exhibit "C-2" ~Legal Description of Triangle Property
Exbibit "D" ~Washington National Project Concept Site Plan
Exhibit "E-1" ~Depiction of Easement Area
Exhibit "E-2" ~Legal Description of Easement Area
Exhibit "F" ~ Easement Agreement
Exhibit "G-1" ~Form of Agency/City Quitclaim Deed
Exbibit "G-2" ~Form ofLACMTA Quitclaim Deed
Exbibit "H" ~Preliminary Report
Exbibit "I"~ LACMTA Deemed Approved Procedure
Exhibit "J"- Permitted Paratransit Shuttle Service Area
Exhibit "K" ~Form of Right of Entry
29
ATTACHMENT 2_Public Parking Facilities
479EXHIBIT A
EXPO STATION DRAWING
[behind this page]
14481128.9
ATTACHMENT 2_Public Parking Facilities
480EXHIBIT"A"
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ATTACHMENT 2_Public Parking Facilities
481EXHIBITB
LACMTA PARCEL LEGAL DESCRIPTION
[behind this page]
144&1128.9
ATTACHMENT 2_Public Parking Facilities
482PARCEL 1:
EXHIBIT "8"
LEGAL DESCRIPTION
Order No.: 910065529-X49
A PORTION OF THE RANCHO RINCON DE LOS BUEYES, PARTLY IN THE CITY OF LOS
ANGELES AND PARTLY IN THE CITY OF CULVER CITY, COUNTY OF LOS ANGELES, STATE
OF CALIFORNIA, AS SHOWN ON A MAP RECORDED IN BOOK I PAGES 207 AND 208. OF
PATENTS, AS DESCRIBED IN THAT CERTAIN DEED FROM FRANCISCO HIGUERRA TO THE
LOS ANGELES & INDEPENDENCE RAILROAD COMPANY, RECORDED IN BOOK 53 PAGE 522
OF DEEDS, BOUNDED AND PARTICULARLY DESCRIBED AS FOLLOWS:
ALL THE PARCEL OF LAND DESCRIBED IN DEED DATED JUNE 3, 1876, FROM FRANCISCO
HIGUERRA TO LOS ANGELES INDEPENDENCE RAILROAD COMPANY, RECORDED JUNE 3,
1876, IN BOOK 47 PAGE 152 OF DEEDS, RECORDS OF SAID COUNTY, AND MORE
PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT SITUATE FIFTY (50) FEET FROM AND BEARING SOUTH 49
DEGREES EAST FROM STATION 327 + 43 OF THE CENTER LINE OF THE LOS ANGELES AND
INDEPENDENCE RAILROAD; THENCE NORTH 82 DEGREES 30' EAST (MAGNETIC) FIFTY (50)
FEET DISTANT FROM AND PARALLEL TO SAID CENTER LINE FOR A DISTANCE OF 9665
FEET TO A POINT ON THE BOUNDARY BETWEEN SAID HIGUERRA AND MRS. AGUILAR;
THENCE NORTHERLY ALONG SAID BOUNDARY LINE BETWEEN SAID HI GUERRA AND
AGUILAR ONE HUNDRED (100) FEET; THENCE SOUTH 82 DEGREES 30' WEST FIFTY (50)
FEET FROM AND PARALLEL TO AFOREMENTIONED CENTER LINE FOR A DISTANCE OF
9665 FEET; THENCE SOUTH 49 DEGREES EAST ONE HUNDRED (100} FEET TO POINT OF
BEGINNING;
BOUNDED ON THE SOUTHWEST BY THE NORTHWESTERLY LINE OF WASHINGTON
STREET (NOW WASHINGTON BOULEVARD), 60 FEET WIDE, AS SHOWN ON THE MAP OF
THE SUBDIVISION OF THE SOUTHERN PORTION OF THE RANCHO RINCON DE LOS
BUEYES, RECORDED IN BOOK 53, PAGE 25 OF MISCELLANEOUS RECORDS, IN THE OFFICE
OF THE COUNTY RECORDER OF SAID COUNTY;
BOUNDED ON THE WEST BY THE EASTERLY LINE OF THE LAND DESCRIBED AS PARCEL 2
IN THE DEED TO THE CITY OF LOS ANGELES, A MUNICIPAL CORPORATION, RECORDED
IN BOOK 12951, PAGE 323, OF OFFICIAL RECORDS;
AND BOUNDED ON THE NORTHWEST BY THE SOUTHEASTERLY LINE OF THE LAND
DESCRIBED IN THE DEED TO THE CITY OF LOS ANGELES, A MUNICIPAL CORPORATION,
RECORDED IN BOOK 4801, PAGE 100 OF OFFICIAL RECORDS.
CLTA Preliminary Report Fonn- Modified (11-17-06)
Page 3
'!/J
ATTACHMENT 2_Public Parking Facilities
483EXHIBIT "B"
LEGAL DESCRIPTION
(continued) .
Order No.: 910065529-X49
EXCEPT TI!EREFROM ALL MINERALS AND MINERAL RlGHTS, INTERESTS AND
ROYALTIES, INCLUDING WITHOUT LIMITATION, ALL OIL, GAS AND OTI!ER
HYDROCARBON SUBSTANCES, AS WELL AS METALLIC OR OTHER SOLID MINERALS OF
WHATEVER KIND OR CHARACTER, WHETI!ER NOW KNOWN OR HEREAFTER
DISCOVERED, IN AND UNDER SAID LAND BELOW A DEPTH OF 500 FEET UNDER TilE
SURFACE WITHOUT REGARD TO THE MANNER IN WHICH THE SAME MAY BE PRODUCED
OR EXTRACTED FROM THE LAND, BUT WITHOUT ANY RIGHT TO ENTER UPON OR
THROUGH THE SURFACE DOWN TO 500 FEET BELOW THE SURFACE TO EXTRACT, DRILL,
EXPLORE OR OTHERWISE EXPLOIT SUCH MINERALS OR MINERAL RIGHTS AND WITI!OUT
ANY RIGHT TO REMOVE OR IMPAIR LATERAL OR SUBJACENT SUPPORT, AS RESERVED
BY SOUTHERN PACIFIC TRANSPORTATION COMPANY, A DELAWARE CORPORATION, IN
DEED RECORDED JANUARY 15, 1991 AS INSTRUMENT NO. 91-63428, OF OFFICIAL
RECORDS.
PARCEL2:
A PORTION OF THAT PART OF RANCHO RINCON DE LOS BUEYES, PROPERTY OF
CLEMENTE C. DE CORONEL, PARTLY IN THE CITY OF LOS ANGELES AND PARTLY IN TilE
CITY OF CULVER CITY, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS PER MAP
RECORDED IN BOOK 13 PAGE 18 OF MISCELLANEOUS RECORDS, IN THE OFFICE OF THE.
COUNTY RECORDER OF SAID COUNTY, AS DESCRIBED IN TI!AT CERTAIN DEED FROM
CLEMENTA CRUZ DE CORONEL, WIFE OF MANUEL CORONEL, TO LOS ANGELES &
INDEPENDENCE RAILROAD COMPANY, RECORDED IN BOOK 53 PAGE 535 OF DEEDS,
DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT ONE HUNDRED (100) FEET NORTHERLY FROM ENGINEER
STATION 379 +50 OF THE LOS ANGELES & INDEPENDENCE RAILROAD (NOW THE S.P.R.R.)
AT THE POINT WHERE SAID RAILROAD CROSSES WASHINGTON STREET, AS SHOWN ON
MAP OF A PORTION OF SAID RANCHO RINCON DE LOS BUEYES, RECORDED IN BOOK 13,
PAGE 18, OF MISCELLANEOUS RECORDS; THENCE WESTERLY PARALLEL WITI! AND ONE
HUNDRED (100) FEET FROM THE CENTER LINE OF THE S.P.R.R. CO. RIGHT OF WAY NINE
HUNDRED FIFTY (950) FEET TO A POINT OPPOSITE STATION 370 OF SAID RAILROAD;
THENCE AT RIGHT ANGLES SOUTHERLY FIFTY (50) FEET TO THE NORTHERLY LINE. OF
THE RIGHT OF WAY OF SAID RAILROAD COMPANY; THENCE EASTERl.Y ALONG SAID
NORTHERLY LINE NINE HUNDRED FIFTY (950) FEET TO A POINT OPPOSITE STATION 379 +
50; TI!ENCE NORTHERLY FIFTY (50) FEET TO THE POINT OF BEGINNING.
EXCEPT TI!EREFROM THAT PORTION, IF ANY, INCLUDED IN THE LINES OF WASHINGTON
STREET.
CLTA Preliminary Report Form- Modified (11-17-06)
Page4
ATTACHMENT 2_Public Parking Facilities
484EXHIBIT "8"
LEGAL DESCRIPTION
(continued)
Order No.: 91 0065529-X49
ALSO EXCEPT THEREFROM ALL MINERALS AND MINERAL RIGHTS, INTERESTS AND
ROYALTIES, INCLUDING WITHOUT LIMITATION, ALL OIL, GAS AND OTHER
HYDROCARBON SUBSTANCES, AS WELL AS METALLIC OR OTHER SOLID MINERALS OF
WHATEVER KIND OR CHARACTER, WHETHER NOW KNOWN OR HEREAFTER
DISCOVERED, IN AND UNDER SAID LAND BELOW A DEPTH OF 500 FEET UNDER THE
SURFACE WITHOUT REGARD TO THE MANNER IN WHICH THE SAME MAY BE PRODUCED
OR EXTRACTED FROM THE LAND, BUT WITHOUT ANY RIGHT TO ENTER UPON OR
THROUGH THE SURFACE DOWN TO 500 FEET BELOW THE SURFACE TO EXTRACT, DRILL,
EXPLORE OR OTHERWISE EXPLOIT SUCH MINERALS OR MINERAL RIGHTS AND WITHOUT
ANY RIGHT TO REMOVE OR IMPAIR LATERAL OR SUBJACENT SUPPORT, AS RESERVED
BY SOUTHERN PACIFIC TRANSPORTATION COMPANY, A DELAWARE CORPORATION, IN
DEED RECORDED JANUARY 15, 199I AS INSTRUMENT NO. 9I-63428, OF OFFICIAL
RECORDS.
END OF LEGAL DESCRIPTION
CLT A Preliminary Report Form- Modified (11-17-06)
PageS
ATTACHMENT 2_Public Parking Facilities
485EXHIBITC-1
DEPICTION OF TRIANf}LE PROPERTY
[behind this page]
14481128.9
ATTACHMENT 2_Public Parking Facilities
486=
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487EXHIBIT C-2
TRIANGLE PROPERTY LEGAL DESCRIPTION
[behind this page]
14481128.9
ATTACHMENT 2_Public Parking Facilities
488EXHIBIT "C-2"
Parcel A (City of Los Angeles)
Legal Descriptions Washington-National Project Site
Real property in the City of Los Angeles, the City of Culver City, and partly in the Cities
of Los Angeles and Culver City, County of Los Angeles, State of California, described
as follows:
APN:
4312-014-057, 4312-014-004, 4312-014-005, 4312-014-006, 4312-014-054, 4312-014-
055,4312-014-052,4312-014-011,4312-014-012, 4312-014-013,4312-014-014,4312-
014-020,4312-014-021,4312-014-022,4312-014-023,4312-014-024,4312-014-059,
4312-014-027, 4312-014-058, 4312-014-029, 4312-014-030, 4312-014-031, 4312-014-
038,4312-014-039,4312-014-040,4312-014-041,4312-014-042,4312-014-053,4312-
.014-046, 4312-014-047, 4312-014-048.
Lots 1, 2, 3,4, 5, 6, 16, 17 and 18 in the City of Los Angeles, County of Los Angeles,
and lots 19 and 20, partly in the Cities of Los Angeles and Culver City, County of Los
Angeles, and lots 7, 8, 9, 11, 12, 13, 14, 15, 21, 22, 23, 24, 25, '26, 27, 37, 38, 39, 28,
29, 30, 31, 36, 32, 33, 34, 35, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, all in the
City of Culver City, County of Los Angeles, and that part of lot 52 in the City of Culver
City, County of Los Angeles, all in Tract 5461, as per Map recorded in Book 57 Page 76
of Maps, in the Office of the County Recorder of said County.
ATTACHMENT 2_Public Parking Facilities
489EXHIBIT "C-2"
Parcel B (City of Culver City)
Legal Descriptions Washington-National Project Site
Real property in the City of Culver City, and partly in the Cities of Los Angeles and
Culver City, County of Los Angeles, State of California, described as follows:
APN:
4312-014-020, 4312-014-021, 4312-014-022,4312-014-023, 4312-014-024, 4312-014-
059, 4312-014-027, 4312-014-058, 4312-014-029,4312-014-030, 4312-014-031, 4312-
014-038,4312-014-039,4312-014-040,4312-014-041,4312-014-042,4312-014-053,
4312-014-046, 4312-014-047, 4312-014-048.
Lots 21, 22, 23, 24; 25, 26, 27, 37, 38, 39, 28, 29, 30, 31, 36, 32, 33, 34, 35, 40, 41, 42,
43, 44, 45, 46, 47, 48, 49, 50, 51, all in the City of Culver City, County of Los Angeles,
and that part of lot 52 in the City of Culver City, County of Los Angeles, all in Tract
5461, as per Map recorded in Book 57 Page 76 of Maps, in the Office of the County
Recorder of said County.
ATTACHMENT 2_Public Parking Facilities
490EXHIBITD
WASHINGTON NATIONAL PROJECT CONCEPT SITE PLAN
[behind this page]
14481128.9
ATTACHMENT 2_Public Parking Facilities
491=
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ATTACHMENT 2_Public Parking Facilities
49214481128.9
EXHIBITE-1
DEPICTION OF EASEMENT AREA
[behind this page]
ATTACHMENT 2_Public Parking Facilities
493DETAIL "A"
N.T.S.
0 50' 100'
SCALE I" = 100'
200'
Exhibit E-1
' PATENTS BK J/207-202
: PDR~ BFLIL LAND"
! M~R~ 53/25
'
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l RS 125/3
Ll
L2
L3
L4
L5
L6
/
//
PARCEL PLAT
FFP 17-9
SHEET 1 OF 1
LINE DATA
BEARING DISTANCE
SB3'26'42'E 14.94'
S54'31'39"W 14.68'
N06"34'12"E 85.57'
N06"34'12'E 59.00'
N06"34'12'E 16.57'
N55"56'09"E 98.97'
ATTACHMENT 2_Public Parking Facilities
494EXHIBITE-2
LEGAL DESCRIPTION OF EASEMENT AREA
[behind this page]
14481128.9
ATTACHMENT 2_Public Parking Facilities
495ExhibitE-2
PSOMAS
I
2 LEGAL DESCRIPTION
3
4 FFP 179
5
6 In the Cities of Culver City and Los Angeles, County of Los Angeles, State of California,
7 being those portions ofParcel48 and 49 of the Grant Deed recorded January 15, 1991 as
8 Instrument No. 91-63428, Official Records of said County, as shown on the map filed in
9 Book 226, Pages 68 through 85, inclusive, of Records of Survey, in the Office of the
I 0 County Recorder of said County; bounded northerly by the northerly line of said Parcel
I I 49, said northerly line also being the southerly line ofExposition Boulevard, 40.00 feet
I2 I wide; bounded northwesterly by a line lying 25c00 feet southeasterly of and parallel with
!
13 11 the centerline of the South"~arrel ofVenice Boulevard; bounded westerly by a line lying
I 4 !1 25.00 feet easterly of and parallel with the centerline of Robertson Boulevard; bounded
I5 II southerly by a line lying 91.00 feet southerly of and parallel with the northerly line of
I 6 /J said Parce: 49; and bo~ded southe~terly by a line lying 48.0~ feet north~esterly of ~d
I7 11 parallel With the centerlme of Washington Boulevard; all previOusly descnbed centerlrnes
I8 ! shown on said Record of Survey.
20 Containing 72,773 square feet.
2I
22
23
24 I
25 lj
26
27
28
29
30
3I
All as shown on Exhibit "B" attached hereto and made a part thereof
Distances as described above and as shown on said Exhibit "B" are grid distances.
Ground distances may be obtained by dividing grid distances by the mean combination
factor of the courses being described. The mean combination factor for this conversion is
1.00000213.
M:I2DMJ050506\SURVEY\LEGALS\X-LG-FFP 179.doc
9/15/2011 .
-Page 1 of2
ATTACHMENT 2_Public Parking Facilities
496PSOMAS
1
2 This legal description is not intended to be used in the conveyance ofland in violation of
3 the Subdivision Map Act of the State of California.
4
5 This legal description was prepared by me or under my direction.
6
7
8
9
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II
12
13
14
15
16
17 ~
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20 ·:
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M:\2DMJ050506\SUR VEY\LEGALS\X·LG-FFP l79.doc
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Date
Page2of2 __
47
ATTACHMENT 2_Public Parking Facilities
497!448!!28.9
EXHIBITF
EASEMENT AGREEMENT
[behind this page]
ATTACHMENT 2_Public Parking Facilities
498OFFICIAL BUSINESS
Document entitled to free
recording per Government Code
Sections 6103 and 27383
Recording Requested By
And When Recorded Return to:
CULVER CITY REDEVELOPMENT AGENCY
9770 Culver Boulevard
Culver City, California 90232
Attention: Asst. Executive Director
(Space Above Line for Recorder's Use Only)
PERPETUAL EASEMENT AGREEMENT
THIS PERPETUAL EASEMENT AGREEMENT ("Easement Agreement") is entered
into as of , 20_ by and between the Los Angeles County
Metropolitan Transportation Authority ("LACMTA"), and the Culver City Redevelopment
Agency· ("Agen~y") [OR THE CITY OF CULVER CITY ("CITY")], with reference to the
following:
RECITALS
[DRAFTING NOTE: FACTUAL INFORMATION IN RECITALS BELOW WILL BE
UPDATED AS NECESSARY AT TIME EASEMENT IS PREPARED FOR EXECUTION
AND THIS NOTE REMOVED]
A. The Exposition Metro Line Construction Authority ("Authority") is a public entity
created by the California State Legislature pursuant to Public Utilities Code ("PUC")
section 132600 for the purpose of awarding and overseeing final design and construction
contracts for the completion of the Los Angeles- Exposition light rail transit project from
Metro Rail station at 7th and Flower Streets in the City of Los Angeles to the Downtown
area of the City of Santa Monica ("EXPO LRT Project").
B. City of Culver City ("City") . is a municipal corporation created and empowered m
accordance with its charter and the constitution of the State of California.
C. LACMTA is a public entity created by the California State Legislature pursuant to PUC
sections 130050.2 et. seq. for many purposes including, but not limited to, the design,
construction, and operation of rail and bus transit systems and other transportation
facilities in Los Angeles County.
Easement Agreement
Page 1 of29
14481193.9
ATTACHMENT 2_Public Parking Facilities
499D. Agency is a public body, corporate and politic, exercising goverrnnental functions and
powers, and organized and existing under Chapter 2 of the Connnunity Redevelopment
Law of the State of California, and is carrying out the Culver City Redevelopment Project
("Redevelopment Project") in which a portion of the EXPO LRT Project is to be located.
E. Phase 1 of the EXPO LRT Project is an approximately 9 mile light rail line extending
southward from Downtown Los Angeles to Exposition Park, and then westward along
Exposition Boulevard to Venice Boulevard/Robertson Boulevard, and traversing through
and ending at the aerial Culver City Station.
F. The EXPO LRT Project Culver City Station and ancillary improvements being
constructed in connection therewith are illustrated on Exhibit "A" attached hereto and
incorporated herein by reference ("EXPO Station"). The EXPO Station is located within
the LACMTA-owned 150-foot-wide parcel that is located between Venice Boulevard and
Washington Boulevard ("LACMTA Parcel"). The LACMTA Parcel is legally described
on Exhibit "B" attached hereto and incorporated herein by reference.
G. LACMTA, Agency, Authority and City entered into that certain Memorandum of
Understanding executed as of January 18, 2011 ("MOU"), which concerns the EXPO
Station and provides for the undertaking of certain expenditures and related conunitments
to"enhance the imPlementation of the respective projects of the parties to the MOU in a
manner consistent with the interests of such parties.
H. City and Agency are in the process of carrying out the redevelopment of a portion of the
Redevelopment Project on real property which abuts the location of the EXPO Station,
which portion of the Redevelopment Project is referred to as the "Washington National
Project". The Washington National Project is anticipated to be located within City
owned property as shown on Exhibit "C-1" and as legally described on Exhibit "C-2"
each as attached hereto and incorporated herein by reference (collectively, the "Triangle
Property"), and a portion of the LACMTA Parcel. The proposed location of the
Washington National Project, and Agency's/City's proposed use of a portion of the
LACMTA Parcel, as currently contemplated by the Agency/City, is depicted on the
concept site plan attached hereto as Exhibit "D" and incorporated herein by reference.
I. The hereinafter defined "Parking Garage" required the Authority to provide additional
support to the EXPO Station in order to accommodate subterranean portions thereof that
are located in close proximity to the EXPO Station's foundations. Pursuant to the MOU,
the Agency agreed to reimburse the Authority for the costs of such additional support,
and the Authority has constructed the Expo Station ·with the additional supports to
accommodate the Parking Garage in reliance thereon.
J. In furtherance of the MOU, LACMTA, Agency, and City entered into that certain Option
Agreement for Perpetual Easement dated as of September [_], 2011 ("Option
Agreement").
Easement Agreement
Page 2 of29
14481193.9
50
ATTACHMENT 2_Public Parking Facilities
500K. The Agency [OR CITY] has exercised the "Option" (as set forth and as defined in the
Option Agreement). This Easement Agreement is the "Easement Agreement" referenced
in the Option Agreement and is entered into in accordance with the Option Agreement.
NOW, THEREFORE, in consideration of the recitals set forth above, the covenants,
conditions and agreements contained herein, and for other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, the Agency [OR CITY] and
LACMTA, intending to be legally bound, hereby agree as follows:
ARTICLE I
DEFINITIONS
As used in this Easement Agreement, the following terms have the meanings set forth
below.
1.1 "Agency" means the Culver City Redevelopment Agency and any successors and
qSSigns.
1.2. ','Agency's [OR CITY'S) Hazardous Materials" m~ans any Hazardous Materials
that (i) become present in," on, under or about the LACMTA Parcel as a result of any act or
omission of Agency [OR CITY] or any person acting on behalf of Agency [OR CITY], and/or
(ii) are present in, on, imder or about the LACMTA Parcel as of the Closing Date, but the
presence of which Hazardous Materials in, on, under or about the LACMTA Parcel would not
have given rise to a claim or a duty to Remediate, were it not for the actions of Agency [OR
CITY], including any actions relating to its rights to develop, construct or otherwise perform
work in, on, under or about the Easement Area.
1.3 "Applicable Laws" shall mean all laws, statutes, requirements, ordinances, orders,
judgments, regulations, resolutions, covenants, restrictions, administrative or judicial
determinations of any governmental authority, court or agency having jurisdiction over the
Easement Area, whether enacted or in effect, and as interpreted, as of the date of this Easement
Agreement or thereafter, including, but not limited to, enviromnentallaws, zoning laws, building
codes and regulations and those laws relating to accessibility to, usability by, and discrimination
against, disabled individuals, as well as all covenants, restrictions, and conditions of record that
encumber the Easement Area.
1.4 "Authority" means the Exposition Metro Line Construction Authority and any
successors and assigns.
1.5 "City" means the City of Culver City and any successors and assigns.
1.6 "Construction License Agreement" means that certain License Agreement for
Construction of Temporary Spaces dated as of September [_], 20 II entered into by and among
City, Agency, and Authority.
Easement Agreement
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ATTACHMENT 2_Public Parking Facilities
5011.7 "Easement Area" means the northerly 91 feet of the LACMTA Parcel, including
surface, air (not to exceed five stories above grade), and subterranean portions thereof, as
illustrated on Exhibit "E-1" attached hereto, and as legally described on Exhibit "E-2" attached
hereto.
1.8 "EXPO Phase 2 Completion Date" means fue date revenue operations commence
for fue Phase 2 LRT EXPO Project from Venice/Robertson to fue station at which such Phase 2
actually terminates.
1.9 "EXPO Spaces" means unreserved parking spaces in fue Parking Garage to serve
fue EXPO Station users in a number equal to one offue following (fue Parties acknowledge and
agree that fue number of EXPO Spaces will change from time to time as set forth below):
Easement Agreement
14481193.9
a. Until fue EXPO Phase 2 Completion Date, "EXPO Spaces" shall mean six
hundred ( 600) parking spaces; provided, however:
(I) Prior to fue EXPO Phase 2 Completion Date, LACMT A shall
perform a parking survey during the third year of revenue
operations of EXPO Phase 1. Based on the parking survey,
. LA~MTA may, at its soje and absolute .discretion, elec;t to reduce
its use of fue EXPO Spaces to less fuan six hundred ( 600) prior to
fue EXPO Phase 2 Completion Date. In such event, "EXPO
Spaces" shall mean such reduced number of parking spaces in fue
Parking Garage during any period of time 1hat LACMTA, in its
sole and absolute discretion, reduces its use of fue EXPO Spaces to
less fuan six hundred (600), provided fuat LACMTA may, in its
sole and absolute discretion, at any time rescind such reduction;
and
(2) In the event the planned Phase 2 of the Washington National
Project is completed prior to the EXPO Phase 2 Completion Date
and operation of the Parking Garage is commenced, fuen fue six
hundred (600) EXPO Spaces in the Parking Garage may, at the
option of Agency [OR CITY], be reduced to three hundred (300)
parking spaces and "EXPO Spaces" shall 1hen mean three hundred
(300) parking spaces in the Parking Garage, provided Agency [OR
CITY] also provides fue use of not less 1han three hundred (300)
parking spaces in fue Ince Parking Garage (rafuer fuan fue 235
Replacement Spaces otherwise contemplated) at no charge, cost, or
expense to LACMTA or its Permittees, untilfue EXPO Phase 2
Completion Date. The use of the three hundred (300) parking
spaces in the Ince Parking Garage shall be subject to fue terms and
conditions set forth in fue Parking License Agreement, and in such
case fue Parking Agreement shall be deemed to remain in effect for
such purpose; or
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ATTACHMENT 2_Public Parking Facilities
502b. After the EXPO Phase 2 Completion Date, "EXPO Spaces" shall mean three
hundred (300) parking spaces.
1.10 "Hazardous Materials" means any substance, material or waste which is or
becomes regulated by the United States government, the State of California, or any local or other
governmental authority, including, without limitation, any material, substance or waste which is
(i) defmed as a "hazardous waste", "acutely hazardous waste", "restricted hazardous waste", or
"extremely hazardous waste" under Sections 25115, 25117 or 25122.7, or listed pursuant to
Section 25140 of the California Health and Safety Code; (ii) defined as a "hazardous substance"
under Section 25316 of the California Health and Safety Code; (iii) defmed as a "hazardous
material", "hazardous substance", or "hazardous waste" under Section 25501 of the California
Health and Safety Code; (iv) defined as a "hazardous substance" under Section 25281 of the
California Health and Safety Code; (v) petroleum; (vi) asbestos; (vii) a polychlorinated biphenyl;
(viii) listed under Article 9 or defined as ''hazardous" or "extremely hazardous" pursuant to
Article 11 of Title 22 of the California Code of Regulations, Chapter 20; (ix) designated as a
"hazardous substance" pursuant to Section 311 of the Clean Water Act (33 U.S.C. Section 1317);
(x) defmed as a "hazardous waste" pursuant to Section 1004 of the Resource Conservation and
Recovery Act ( 42 U.S.C. Section 6903); (xi) defined as a "hazardous substance" pursuant to
Section 101 of the Comprehensive Environmental Response, Compensation and Liability Act
( 42 U.S.C. Section 9601); or (xii) any other substap.ce, whether in the form of a solid, liquid, gas
or any other form whatsoever, which by any govermnental requirements eith~r requires special
handling in its use, transportation, generation, collection, storage, treatment or disposal, or is
defined as "hazardous" or is harmful to the environment or capable of posing a risk of injury to
public health and safety.
1.11 "Ince Parking Garage" means the Ince Boulevard Public Parking Garage at 9099
Ince Boulevard in Culver City.
1.12 "LACMTA" means the Los Angeles County Metropolitan Transportation
Authority and any successors and assigns.
1.13 "LACMTA's or Authority's Hazardous Materials" means any Hazardous
Materials that, as a result of the actions of LACMTA or Authority, exist in, on, under or about
the Easement Area, excluding any of the same that are Agency's [OR CITY'S] Hazardous
Materials.
1.14 ''Non-Peak Hours" means [BLANK TO BE
FILLED IN BASED ON MTA GOOD FAITH DETERMINATION OF NON-PEAK
HOURS BASED UPON ACTUAL OPERATION OF EXPO LRT PROJECT.]
1.15 "Option Agreement" means that certain Option Agreement dated as of September
L___], 2011 entered into by and among the City, Agency and LACMTA.
1.16 "Parking Garage" means the parking garage facility to serve the Washington
National Project to be located on the Triangle Property and the Easement Area.
Easement Agreement
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ATTACHMENT 2_Public Parking Facilities
5031.17 "Parking License Agreement" shall mean that certain License Agreement For
Use, Operation, Maintenance, and Repair or Temporary Parking Spaces dated as of September
L_j, 2011 entered into by and among, City, Agency, LACMTA.
1.18 "Parties" means LACMTA and Agency [OR CITY], the parties to this Easement
Agreement.
1.19 "Permittees" means the Parties' respective officers, directors, employees, agents,
partners, contractors, customers, visitors, invitees, licensees and concessionaires.
1.20 "REA" shall mean the Reciprocal Easement Agreement contemplated by Section
10 of the Option Agreement and described in Section 3.5, below.
1.21 "Release" means any release, spill, emission, emptying, leaking, injection,
deposit, disposal, discharge, dispersal, leaching, pumping, pouring, dumping or migration into or
through the environment (including atmosphere, ambient air, soil, surface water, groundwater,
drinking water supply, surface land or subsurface strata), or into or out of any property.
1.22 "Remediate" means any response or remedial action as defmed under· Section
101(2;5) ofCERCLA, and similar actions with respect to Hazardou~ Materials as defmed.under
comparable state ~d local laws, and any other clean-up, removal, containillent, abatement,·
monitoring, treatment, disposal, closure, restoration or other mitigation or remediation of
Hazardous Materials or Releases required by any goverrnnental authority or under any law
referenced above in the defmition of Hazardous Materials.
1.23 "Replacement Spaces" means no less than two hundred thirty-five (235)
unreserved parking spaces made available to LACMTA at no cost in the Ince Parking Garage as
set forth in the Parking License Agreement. The use of the Replacement Spaces shall be subject
to the terms and conditions set forth in the Parking License Agreement.
1.24 "Temporarv Spaces" means temporary surface parking spaces which may be
constructed by the Authority within a portion of the Easement Area and the Triangle Property
pursuant to the Construction License Agreement and which may be relocated to the Replacement
Spaces (as set forth in the Parking License Agreement) in a number equal to one of the following
(the Parties acknowledge and agree that the number of Temporary Spaces may change from time
to time as set forth below):
a. Until the EXPO Phase 2 Completion Date, "Temporary Spaces" shall
mean six hundred ( 600) parking spaces;
b. After the EXPO Phase 2 Completion Date, "Temporary Spaces" shall
mean three hundred (300) parking spaces;
Easement Agreement
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ATTACHMENT 2_Public Parking Facilities
504c. If the Temporary Spaces are relocated to the Ince Parking Garage (as set
forth in the Parking License Agreement), then the "Temporary Spaces" shall mean the
"Replacement Spaces".
ARTICLE2
GRANT OF EASEMENT
2.1 Grant of Easement. For valuable consideration, receipt of which is hereby
acknowledged, and subject to LACMTA's reservation of Retained Rights, as defmed in Section
3 below and to the other terms and conditions of this Easement Agreement, LACMTA hereby
grants to Agency [OR CITY] a perpetual easement on, under and above (not to exceed five
stories above grade) the Easement Area to construct, use, operate, maintain, repair, and/or
reconstruct parking uses, transit plaza uses, and residential and commercial (incidental to the
operation of a garage) uses provided that such residential and commercial uses may not exceed
in the aggregate 20,000 square feet, and of such 20,000 square feet not more than 5,000 square
feet may be in the below-grade portions of the Easement Area. The REA shall describe and set
forth the areas of the Agency's [OR CITY'S] exclusive and non-exclusive use of the Easement
Area. The Parties agree that nothing in this Easement Agreement shall limit or preclude in any
way any use of the Easement Area for residential and commercial uses pursuant to a lease of the
Easement Area which may be subsequently entered into as set forth in Section 8.l.b, b"low. Any
such lease, if requested and entered into and to the extent agreed between the parties thereto,
would not be subject to the height, or square footage restrictions of the Easement Area.
2.2 Peroetual Easement. This Easement Agreement (including the grant of easement)
and all of the covenants contained herein shall continue in full force and effect in perpetuity.
2.3 Condition of Easement Area;
a. AS-IS, WHERE-IS. Agency [OR CITY] acknowledges and agrees that, except
as expressly set forth herein, LACMT A makes no representation or warranty
whatsoever, whether express or implied or arising by operation of law, with
respect to any interest in the Easement Area or any portion thereof conveyed
pursuant to this Easement Agreement. EXCEPT AS EXPRESSLY SET FORTH
HEREIN, AGENCY AND CITY EACH AGREES THAT THE INTERESTS IN
THE EASEMENT AREA (AND/OR ANY PORTION THEREOF) HAVE BEEN
TRANSFERRED AND CONVEYED TO (AND ACCEPTED BY) THE
AGENCY [OR CITY] IN THEIR THEN-EXISTING CONDITION, AS IS,
WHERE IS, WITH ALL FAULTS, AND WITHOUT ANY REPRESENTATION
OR WARRANTY WHATSOEVER, WHETHER EXPRESS OR IMPLIED OR
ARISING BY OPERATION OF LAW. All representations and warranties not
expressly set forth herein are hereby disclaimed by LACMTA and waived by
Agency [OR CITY]. Without limiting the generality of the foregoing, except as
expressly set forth herein, LACMTA makes no representation, warranty or
guarantee of any kind, either express or implied, with respect to merchantability,
marketability, habitability, fitness for a particular use or purpose, the value or
Easement Agreement
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505Easement Agreement
14481193.9
accuracy of information provided respecting the Easement Area, prospects for
future development, use, or occupancy, zoning and/or permitted uses, of all or any
portion of the Easement Area, and Agency [OR CITY] acknowledges and agrees
that:
1. Agency [OR CITY] has had the opportunity to make its own independent
investigation of the Easement Area and all other aspects of this
transaction, including, without limitation, the fmancial value of the
Easement and projected future income and expenses for the Easement
Area, and will have relied entirely thereon and on the advice of its
independent consultants (if any) in entering into this Easement Agreement,
and not on any information or material supplied by or on behalf of
LACMTA.
n. Agency [OR CITY) has reviewed all instruments, records and documents
which Agency [OR CITY] deemed appropriate or advisable to review in
connection with the Easement Area and this Easement Agreement, and
Agency [OR CITY] has determined that the information and data
contained therein or evidenced thereby was satisfactory to Agency [OR
CITY].
iii. Agency [OR CITY] acknowledges that the Easement Area may or may
not contain Hazardous Materials and that, except as expressly set forth
herein, LACMTA makes no representation or warranty to Agency or City
regarding the presence or absence of any Hazardous Materials in, on, or
under the Easement Area. It shall be Agency [OR CITY's] responsibility
to examine the Easement Area and to review such reports or other
documents it deems necessary to satisf'y itself as to the presence or
absence of any such Hazardous Materials. Except as expressly set forth
herein, if any Hazardous Materials are encountered during the planning,
design, or construction of the Parking Garage, Agency [OR CITY] shall
be responsible for all costs of disposal and remediation of such Hazardous
Materials as a project cost.
IV. In connection with this Section 2.3(a), Agency [OR CITY] expressly
waives the benefits of Section 1542 of the California Civil Code, which
provides as follows: "A GENERAL RELEASE DOES NOT EXTEND
TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR
SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF
EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER
MUST HAVE MATERIALLY AFFECTED HIS OR HER
SETTLEMENT WITH THE DEBTOR." AGENCY [OR CITY]
ACKNOWLEDGES AND AGREES THAT IT HAS BEEN
REPRESENTED BY LEGAL COUNSEL OF ITS CHOICE IN
CONNECTION WITH THIS EASEMENT AGREEMENT, AND THAT
SUCH COUNSEL HAS EXPLAINED TO IT THE PROVISIONS OF
THIS SECTION 2.3(a). BY INITIALING BELOW, AGENCY [OR
Page 8 of29
ATTACHMENT 2_Public Parking Facilities
506CITY] CONFIRMS IT HAS AGREED TO THE PROVISIONS OF THIS
SECTION 2.3(a).
v. In tlris connection, Agency [OR CITY] hereby agrees, represents and
warrants that Agency [OR CITY] realizes and acknowledges that factual
matters now unknown to it may have given or may hereafter give rise to
causes of action, claims, demands, debts, controversies, damages, costs,
losses and expenses and other claims and liabilities which are presently
unknown, unanticipated and unsuspected, and Agency [OR CITY] further
agrees, represents and warrants that the waivers and releases herein have
been negotiated and agreed upon in light of that realization and that
Agency [OR CITY] nevertheless hereby intends to release, discharge and
acquit LACMTA and the LACMTA's affiliates, and the advisors, trustees,
beneficiaries, directors, officers, employees, agents and attorneys and
representatives of each of them, and each of their respective heirs,
successors, personal representatives and assigns, from any such unknown
causes of action, claims, demands, debts, controversies, damages, costs,
losses and expenses and other claims and liabilities.
vt. LACMTA has given Agency [OR CITY] material concessions regarding
tlris transaction in exchange for Agency [OR CITY] agreeing to the
provisions ofthis Seciion 2.3(a). Agency [OR CITY] has initialed tlris ·
Section 2.3 to further indicate its awareness and acceptance of each and
every provision hereof; provided, however that failure of Agency [OR
CITY] to initial tlris Section 2.3(a) below shall not invalidate this Section
2.3(a) nor shall it invalidate any other provision of this Easement
Agreement.
AGENCY
vu. Notwithstanding anytlring to the contrary in tlris Section 2.3(a), the release
and waiver by Agency [OR CITY] hereunder shall not constitute a waiver
or release respecting any obligations of LACMTA or Authority to clean
up or remediate LACMTA's or Authority's Hazardous Materials.
vut. The provisions of tlris Section 2.3(a) shall survive indefmitely.
b. LACMTA hereby represents and warrants to Agency [OR CITYJ that to the
knowledge of [Vehna Marshall, Frances hnpert and Matt Freychineaud] (the
"LACMTA Knowledge Persons") [NAMES OF LACMTA KNOWLEDGE
Easement Agreement
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ATTACHMENT 2_Public Parking Facilities
507c.
PERSONS TO BE UPDATED AT TIME EASEMENT IS RECORDED],
other than as disclosed in writing to Agency [OR CITY], (i) the LACMTA Parcel
is not and has not been a site for the use, generation, manufacture, storage,
treatment, release, threatened release, discharge, disposal, transportation or
presence of Hazardous Materials, except those that are in compliance with all
applicable environmental laws; (ii) LACMTA has provided Agency [OR CITY]
with copies of all reports prepared by or on behalf of LACMTA respecting the
environmental condition of soils within the Easement Area in the possession of
LACMT A; and (iii) there are no claims or actions pending or threatened against
LACMTA or the LACMTA Parcel by any govermnental entity or agency or any
other person or entity relating to Hazardous Substances. The foregoing
representations and warranties of LACMTA shall survive the exercise of the
Option.
Agency [OR CITY] shall not cause or permit any Hazardous Materials to be
spilled or Released in, on, under, or about the LACMTA Parcel. If any Agency's
[OR CITY'S] Hazardous Materials become present in, on, under or about the
Property, Agency [OR CITY] shall promptly take all actions necessary to
Remediate such Agency's [OR CITY'S] Hazardous Materials and restore the
LACMTA Parcel to the condition required under applicable laws and that will
allow LA<::;MTA to make full. econonnc US() of LACMTA's rights therein,
including the Retained "Rights.·
ARTICLE3
RETAINED RIGHTS; PARKING
3.1 Retained Rights. Notwithstanding anything express or implied to the contrary in
this Easement Agreement, LACMTA hereby reserves and retains the following rights with
respect to the Easement Area ("Retained Rights") [BELOW LANGUAGE TO BE REVISED
BASED ON GOOD FAITH NEGOTIATIONS BETWEEN THE PARTIES PRIOR TO
EXECUTION OF EASEMENT AGREEMENT]:
(a) The right to install, construct, inspect, operate, maintain, repair, use, add,
and replace all transit- or LACMTA-related improvements, structures, vehicles, equipment,
fixtures, and furnishings now existing or hereafter located in, on, under, and/or adjacent to, or
passing through the LACMT A Parcel, the EXPO Station (collectively, the "Public Transit
Facilities"), including without limitation all of the equipment, cable, conduit, fixtures,
furnishings, and vehicles located or operating in or on the LACMT A Property and property
adjacent thereto and used or installed by LACMTA or for a transit purpose, including ticket
vending machines, ticket validation systems and other equipment serving a comparable function,
map and information cases and directional, way-finding informational and transit-station and
transit-facility identification signs, lighting, CCTV cameras, rail cars, buses, vehicles, tracks,
signaling devices, maintenance equipment, public address systems, fire protection equipment,
cormnunication antennas, and all other transit-related or LACMTA-related equipment and
Easement Agreement
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ATTACHMENT 2_Public Parking Facilities
508vehicles (collectively, the "LACMr A Transit Equipment"), as LACMTA may determine ts
necessary in its sole and absolute discretion;
(b) The right to install, use, repair, maintain and replace a reasonable number
of directional, way-finding, informational, transit station identification and transit facility
identification signs, for the purpose of directing LACMT A Pennittees to, from and between
Public Transit Facilities and the public streets, sidewalks and rights-of-way;
(c) The non-exclusive right to use the sidewalk or surface areas within the
Easement Area for pedestrian egress and ingress and activities related to the operation,
maintenance and repair of the Public Transit Facilities for the benefit ofLACMTA, its Licensees
and Pennittees and the public, including the right to drive and park maintenance vehicles on such
sidewalk or surface areas in connection with such activities (including revenue collection),
maintenance and repair of the Public Transit Facilities; provided that vehicles may only be
parked by or on behalf of LACMTA and its Licensees during periods when operation,
maintenance or repair work is occurring;
(d) The right to, at any time, install, place, use, maintain, repair and replace
LACMrA Transit Equipment within the LACMTA Parcel;
(e) The non-exclusivt; right of pedestrian i11gress and egre.ss over and across
the Easement Area (i) for the purpose of accessing ·the Public TranSit Facilities, and the public
streets and sidewalks adjoining the Premises, and (ii) for the purpose of exiting the Public Transit
Facilities via emergency exits;
(f) The right to park vehicles in the EXPO Spaces located within the
Easement Area, and rights of vehicular and pedestrian ingress and egress related thereto.
(g) [Provisions shall be added to the Easement Agreement to protect
LACMTA, the Agency and the City from claims from third party developers, contractors, users
and/or occupants of the Easement Area arising from their adjacency and proximity to the
LACMTA Property and the public transit uses conducted there on by LACMTA, including
obtaining acknowledgements (a) that the Property is or may in the future be adjacent and/or
proximate to the LACMTA Property used for public transit purposes, which may include rail
lines, tracks or dedicated roadway, rail storage yards, trains, buses or other vehicles utilized by
LACMrA and (i) any transit company validly operating public transit lines on the city streets
surrounding the LACMrA Property or which operates or maintains the Transit Facilities; (ii)
any other persons employed, retained or engaged by LACMrA for that purpose, or for the
purpose of maintaining, repairing, restoring or reconstructing the Transit Facility; and (iii)
LACMTA's successors and assigns ("Transit Operators"), and all equipment and improvements
related to the construction, maintenance or operation of public transit facilities in, on, over or
under the LACMTA Property and the adjoining streets, sidewalks and public rights-of-way (the
"Transit Facilities"); and (b) that, in connection therewith, any developers, contractors, users or
occupiers of the Property may be subjected to disturbance, inconvenience, annoyance and
nuisance associated with or related to (i) the construction, operation, use, repair, maintenance,
replacement or reconstruction on or of the Transit Facilities, (ii) the operation of public transit
Easement Agreement
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ATTACHMENT 2_Public Parking Facilities
509service in, on, under, or over the Transit Facilities, (iii) the activities of patrons, employees,
contractors, consultants, Transit Operators or agents in and around the Transit Facilities, which
include all: (I) vehicle exhaust, (2) noise ; (3) vibrations, (4) odors and (5) lighting from the
LACMTA Property (collectively, the "Transit Proximity Risks"); and further including releases
and waivers of claims from developers, contractors, users and occupiers of the Property for any
loss sustained by, or any damage to or injury of, the users and occupiers of the Property and their
property, arising out of the Transit Proximity Risks.]
3.2 EXPO Spaces. Subject to the terms and conditions of this Easement Agreement
and the REA, upon completion of the Parking Garage, LACMTA retains rights to, and shall be
provided the use of, the unreserved EXPO Spaces. In addition to hereinafter defined Transit
Signage costs set forth in Section 3.3(c), below, the allocation of operation and maintenance
costs for the EXPO. Spaces is set forth in Sectio~ 7 .2.
3.3 Operation of Parking Garage.
a. Neither the Agency, nor the City, nor the then-owner(s) or operators of the
Parking Garage shall have any right to directly or indirectly impose any fee, cost or charge on
any LACMTA Permittees using the EXPO Spaces in the Parking Garage (including without
limitation any transit patrons using the EXPO Station), provided that the owner(s) of the Parking
Garage and holders of the easements created through this Easement .Agreeme:q.t shall have thv
exclusive right to set fees for the use of all parking spaces within the Parking Garage ~therthan
the EXPO Spaces, and shall be entitled to receive the associated revenues earned therefrom.
LACMTA shall have the exclusive right to set fees, if any, for the EXPO Spaces and shall be
entitled to receive any and all revenues earned therefrom. The Parties shall work cooperatively
and in good faith with each other for LACMTA to determine any charges applicable to the
EXPO Spaces and for the owner(s) of the Parking Garage (including, as applicable, Agency [OR
CITY]) to detennine charges for the other users of the Parking Garage.
b. The Agency [OR CITY] shall ensure the EXPO Spaces are open and
available to LACMr A Pennittees on a daily basis beginning at least thirty (30) minutes prior to
the commencement of the light rail service at the Culver City Station each morning and not
ending before the time that is thirty (30) minutes after the end of the light rail service at the
Culver City Station at the end of each day.
c. At no cost to the Agency [OR CITY] or the owner(s) or the operator of
the Parking Garage (if other than the Agency [OR CITY]), the owner(s) of the Parking Garage
shall install, or cause to be installed (and re-install, or caused to be re-installed, if necessary) way
finding signage provided by LACMTA ("Transit Signage") in the Parking Garage in locations
reasonably approved in writing by LACMTA and the Agency [OR CITY] and the owner(s) of
the Parking Garage. Such Transit Signage shall provide directions to the rail line, the Culver
City Station, bus lines and stops and/or park and ride areas, if any. LACMrA shall be
responsible for creating and repairing the Transit Signage, providing replacement Transit
Signage and shall pay all costs associated therewith. LACMr A shall coordinate all such
activities with the Agency [OR CITY] and the owner(s) of the Parking Garage. The Agency
[OR CITY] and the owner(s) of t~Ie Parking Garage shall have reasonable rights of approval
Easement Agreement
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ATTACHMENT 2_Public Parking Facilities
510over all aspects ·Of the Transit Signage, including, without limitation, size, number, and
placement location; provided, however, LACMIA's standard wayfinding signage used in the
usual course of its system shall be considered approved as to size and content.
3.4 Non-Peak Hours. LACMIA agrees to not unreasonably withhold approval of,
and will reasonably consider, any proposals made by Agency or City, to share the Temporary
Parking and EXPO Spaces with the Agency and the owner of the Washington National Project
during Non-Peak Hours.
3.5 REA. Concurrently with the execution of this Easement Agreement, LACMTA
and Agency or City, or their respective successors as owners of the LACMIA Parcel and
Triangle Property, respectively, have executed and duly acknowledged the REA contemplated by
Section 10 of the Option Agreement. The REA shall be recorded concurrently herewith, against
the LACMIA Parcel and the Triangle Property, and the Agency [OR CITY] will pay for all
costs associated therewith, including, without limitation, any closing costs, transfer taxes, escrow
fees or expenses, and the costs of obtaining any title insurance in connection therewith.
3.6 No Relocation Benefits. Without limiting any of Agency [OR CITY'S]
obligations under this Agreement, LACMTA acknowledges and agrees that neither it nor any
Licensee nor any Pennittee shall be entitled to any relocation benefits or payments arising out of
its vacation .of any temporary parking spaces within the Washington Na#onal Project or the.
expiration or termination of this Agreement. LACMTA knowingly, voluntarily and intelligently
waives for itself and all Licensees and all Permittees any such benefits or payments. Nothing in
this Section reduces or modifies the Agency [OR CITY'S] obligations to provide the Temporary
Spaces or the EXPO Spaces.
ARTICLE4
COOPERATION
The Parties intend that the planning, development and construction of the EXPO Station,
the Washington National Project, and parking related thereto, will be a cooperative, mutual
endeavor in which the Parties actively participate and work together, in good faith and with due
diligence. Each· Party hereto agrees to take all lawful actions to negotiate in good faith and
prepare for formal consideration and approval all definitive legal agreements within their
respective jurisdictions contemplated by, and necessary to implement the purpose and intent of,
this Easement Agreement. The Parties agree to implement the EXPO Station and the
Washington National Project within their respective jurisdictions in a harmonious way, including
without limitation, satisfaction or compliance with all of the following:
a. The Parties shall diligently negotiate and prepare for execution by the Parties all
documents contemplated herein so as to effectuate the purposes of this Easement
Agreement;
b. Agency and City will consult with LACMTA and carefully consider any
recommendations and objections raised by LACMIA regarding the Agency's or
City's, as applicable, proposed selection or replacement of the Washington
Easement Agreement
Page 13 of29
14481193.9
ATTACHMENT 2_Public Parking Facilities
511National Project developer and the Agency's or City's, as applicable, proposed
approval of fmancing and assurances to be provided by the developer to ensure
construction of the Washington National Project;
c. LACMf A agrees to cooperate with Agency and City to facilitate the availability
of state and/or federal funds to enable Agency and City to perform its payment
obligations; provided, however, nothing in this section shall be deemed to imply
or obligate LACMTA to contribute any funds to Agency or the City except as
specifically set forth herein or in the Easement Agreement or REA;
d. LACMfA agrees to vacate the surface of the Easement Area consistent with
LACMTA's vacation of the Triangle Property as required by the Parking License
Agreement;
e. LACMTA agrees to maintain the EXPO Station and all of its ancillary rights of
way and other areas supporting such station, including without limitation, its
parking areas, in a manner consistent with LACMTA's system-wide maintenance
and landscaping standards and as set forth in the Parking License Agreement;
f. LACMfA shall not maintain or permit any use of the LACMfA Parcel on the
south side of Venice Boulevard for the purpose of any bus uses, bus turnout areas
and/or bus storage areas, except that paratransit shuttle service shall be permitted
as shown on Exhibit "F";
g. It is intended by the Parties that the shared EXPO LRT and Washington National
Projects' parking may include the potential development of podium parking; and
h. LACMfA agrees to consult with Agency and City and carefully consider any
recommendations and objections raised by Agency or City regarding LACMTA's
proposed future use of the air space located above the EXPO Station platform.
ARTICLE 5
CONSTRUCTION OF ISOLATION WALL
5.1 At no cost to LACMTA or Authority and consistent with plans mutually approved
therefor by the Parties, Agency [OR CITY] shall construct, or at its option cause the
construction by the Washington National Project developer of, a shoring wall to be located
underground approximately 24 feet deep (the contemplated depth of the Parking Garage), or the
depth of the Parking Garage, whichever is deeper, along the property line between .the Easement
Area and the EXPO LRT Project for the purpose of protecting the EXPO LRT Project from
adverse impacts such as the weakening of subjacent support due to the excavation for and the
construction of the Parking Garage (the "Isolation Wall"). LACMfA or Authority will
expeditiously review and not unreasonably withhold approval of the Isolation Wall design and
plans for consistency with the criteria set forth in Article 6 below. The review and approval of
the Isolation Wall plans shall conform to the process set forth in Article 6, below.
Easement Agreement
Page 14 of29
14481193.9
ATTACHMENT 2_Public Parking Facilities
5125.2 The Isolation Wall shall be constructed and in place before any excavation work
is commenced for the Parking Garage or for any portion of the Washington National Project
within 50 feet of the EXPO Station. Any construction work done for the Isolation Wall or the
Washington National Project must be in compliance with any applicable LACMTA work rules,
track allocation procedure and permit process. Without limitation of LACMT A's other rights
under this Easement Agreement or otherwise, the Parties acknowledge and agree that completion
of the Isolation Wall is critical and that LACMTA shall be entitled to injunctive relief
immediately halting construction of the Parking Garage and any other improvements on the
Easement Area in the event that Agency, City or the owner of the Washington National Project
fails to complete construction of the Isolation Wall or seeks to move forward with other
construction prior to completing the construction of the Isolation Wall. Agency, City and the
owner of the Washington National Project each hereby waive any rigbt to challenge such relief.
Notwithstanding anything to the contrary in this Agreement, a failure to satisfy Agency's [OR
CITY'S] obligations respecting the Isolation Wall shall be an immediate Event of Default under
this Easement Agreement and MTA's rigbts under this Section 5.2 may be exercised
immediately upon the occurrence of such Event of Default, without limitation of LACMT A's
other rights under this Easement Agreement or otherwise.
ARTICLE6
PARKING GARAGE AND ANCILLARY USES DESIGN AND
. ' . . .
CONSTRUCTION
6.1 The construction and development of the Parking Garage and all other
improvements and ancillary uses to be constructed within the Easement Area, including without
limitation residential, commercial and transit plaza uses (collectively, "Ancillarv Uses"), shall be
subject to the approval of any governmental entity which may have legal jurisdiction over such
construction and development. LACMT A and Authority shall have the rigbt to reasonably
approve plans and specifications for the Parking Garage and the Ancillary Uses based primarily
on the following criteria:
a. Whether there is an impact on the structural integrity of the EXPO LRT
Project;
b. Whether there is more than a de minimus or trivial impact to operation and
maintenance of the EXPO LRT Project;
c. The reasonable location and proximity, including, without limitation, the
ease of access of the EXPO Spaces for station access for Authority patrons;
d. Confirmation that the Parking Garage and Ancillary Uses are designed and
will be constructed within the Easement Area;
e. The provision of bicycle racks and lockers in the Parking Garage in
reasonably close proximity to the EXPO Station or in the surface area of the Easement Area;
provided, however, Agency [OR CITY) shall provide a linkage, subject to Authority and
Easement Agreement
Page 15 of29
14481193.9
ATTACHMENT 2_Public Parking Facilities
513LACMTA prior approval, between the bicycle racks and lockers and the permanent clean
mobility center facilities if constructed by Authority under the EXPO Station structure;
f. Whether any pedestrian connections constructed as part of the Washington
National Project between the EXPO Station and the Washington National Project, at grade
and/or at the station platform level is compatible with or appropriate for the EXPO LRT Project;
g. If the Washington National Project includes podium parking or any
structure directly adjacent to the EXPO Station, the exterior design and architectural fmish of
such structure is compatible with the EXPO Station; and
h. whether the design is in compliance with the terms of this Easement
Agreement and all Applicable Laws.
6.2 Once LACMTA has approved design drawings and specifications at the 30%
completion level for the Parking Garage (the "30% Drawings") based on the criteria set forth
above in Section 6.1 and provided LACMTA has had at least sixty (60) days to review such 30%
Drawings, the approval of subsequent levels of design and construction plans shall also be based
on the criteria set forth above and shall be governed by the "deemed approved" procedures set
forth in Exhibit "G". LACMTA will expeditiously review and not unreasonably withhold
approval of SJ.\Ch Parking Garage su]Jsequent levels pf design and plans, and agrees to review and
approve or disapprove such plans within thirty (30) days of submittal by or on behalf of Agency
[OR CITY].· Any disapproval of plans shall be accompanied by a written statement delivered to
Agency [OR CITY] within said 30-day period specifying detailed reasons for any such
disapproval. In the event Agency [OR CITY] desires to construct improvements within the
Easement Area that differ in any material respect from the then-current set of plans and
specifications that have been approved by LACMT A pursuant to this Article 6, then, prior to
performing any construction related thereto, Agency [OR CITY] shall prepare and submit to
LACMTA for LACMTA's review and approval a revised set of plans and specifications
reflecting such proposed changes, and LACMT A shall have the right to approve such revised
plans and specifications in accordance with this Article 6.
6.3 Subject to the reimbursement obligation in Section 7.2, below, the Agency [OR
CITY] shall bear all the costs of developing, constructing, operating maintaining and repairing
the Parking Garage, including, without limitation, the costs associated with developing,
constructing and repairing the EXPO Spaces and LACMTA shall have no responsibility for such
costs. Ail improvements constructed by Agency [OR CITY] within the Easement Area shall be
constructed, installed and performed in coordination with LACMTA, and in accordance with
plans and specifications approved by LACMTA pursuant to this Article 6 and all Applicable
Laws.
6.4 It is the intent of the Parties, and Agency [OR CITY] hereby agrees as between
the Parties, that LACMTA's review, approval, disapproval or requests for changes of any plans
and specifications shall not constitute the assumption of any responsibility by, or impose any
liability upon, LACMTA as to the accuracy, efficacy, sufficiency or legality thereof, or the
constructabi!ity of the improvements detailed tl:terein and shall not affect LACMTA's rights or
Easement Agreement
Page 16 of29
14481193.9
ATTACHMENT 2_Public Parking Facilities
514remedies in the event of any loss, damage, claim, cost or expense resulting from any construction
performed by or on behalf of Agency [OR CITY].
6.5 Prior to commencing any construction work on the Easement Area, Agency [OR
CITY] shall provide LACMTA with at least ten (10) days prior written notice of the proposed
commencement date, and Agency [OR CITY] shall provide LACMTA with reasonable updates
regarding the status of the construction and will respond to any other reasonable requests from
LACMTA for information related thereto.
6.6 Agency [OR CITY] shall at all times ensure that in the event any construction
work is commenced within the Easement Area, such work is performed in a manner, and the
Easement Area is maintained in a condition, that does not create any unreasonable risk to public
health or safety.
ARTICLE 7
CONSTRUCTION, DEVELOPMENT AND MAINTENANCE COSTS
FOR THE PARKING GARAGE
7.1 Except for LACMTA's obligation to reimburse the Agency [OR CITY] for
certain costs as set forth in thi~ Article and in Section 3.3., c. abov~, the Agency .[OR CITY]
shall bear all the costs of developing, constructing, operating, maintaining and repairing the
Parking Garage, including, without limitation the costs associated with developing and
constructing the EXPO Spaces, and LACMTA shall have no responsibility for such costs except
as set forth in Section 3.3., c. above and Section 7.2, below.
7.2 After completion of construction of the Parking Garage, and thereafter, on not less
than a monthly basis, LACMTA shall reimburse Agency [OR CITY], or the operator of the
Parking Garage, as applicable, ($ per EXPO Space as and for
reimbursement for a portion of the costs and expenses to operate, maintain and repair the EXPO
Spaces, which amount shall be increased each calendar year based on the increase in the
Consumer Price Index for the regional index that includes Los Angeles County. [NOTE:
Amount to be inserted in the blank above to be calculated based upon the amount
LACMTA incurs for day-to-day maintenance of the Temporary Spaces and other
comparable surface parking spaces, which amount shall not include (among other things)
any costs for insurance, property tax or possessory interest tax, parking attendants, or
other costs associated with construction or operation of the Parking Garage]
ARTICLES
COMMERCIAL, RESIDENTIAL AND TRANSIT USES
8.1 Commercial and Residential Uses.
a. Agency [OR CITY] shall be permitted to construct, use, operate,
maintain, repair and reconstruct up to 20,000 sq. ft. of improvements for commercial and/or
Easement Agreement
Page 17 of29
14481193.9
ATTACHMENT 2_Public Parking Facilities
515residential uses within the Easement Area, not more than 5,000 square feet of which may be in
the subterranean portion of the Easement Area. Commercial use may include off-premises
advertising signage; provided however, that Agency or City shall have no authority to install
such off-premises advertising signage until the Parties have mutually agreed to a reasonable
revenue sharing agreement for such off-premises advertising. The Parties each agree to negotiate
diligently and in good faith, to refrain from unreasonably withholding or conditioning approval
of, and from unreasonably delaying such negotiation and ·approval, and to prepare for formal
consideration (if required), approval, and execution of a revenue sharing agreement within their
respective jurisdictions.
b. If Agency [OR CITY] desires to use a portion of the Easement Area for
residential purposes and/or commercial uses which exceed 20,000 sq. ft., then at the request of
Agency [OR CITY), LACMTA shall be obligated to, subject to California Environmental
Quality Act compliance, lease a portion of the Easement Area to Agency [OR CITY] for such
residential purposes and/or commercial uses on a lease form subject to the reasonable approval
of LACMTA and Agency [OR CITY] based upon similar transit oriented development leases
utilized by LACMTA for such purposes; provided however, that in consideration of the public
uses being provided under the MOU by the City and Agency at the sole cost and expense of the
Agency [OR CITY] (including without limitation Agency [OR CITY] construction of the
transit plaza and associated linkages, Agency [OR CITY] provision of temporary and permanent
LACMTA parking; Agency [OR CITY] provisiqn of the ExPO const,ruction staging. area, the
development of commercial facilities to serve the train users and others, and th~ construction of a
Transit Oriented Development), the rent to be charged the Agency [OR CITY] therefor shall be
nominal. The Parties agree that nothing in this Easement Agreement shall limit or preclude in
any way any use of the Easement Area for residential and commercial uses pursuant to a lease
which may be subsequently entered into as set forth in this Section, and any such lease, if and to
the extent the same is approved by LACMTA, would not be subject to the height, or square
footage restrictions of the Easement Area. Without affecting, changing or modifying in any way
LACMTA's rights, remedies or obligations under the Easement Agreement or the REA, the
Parties agree that in connection with any such lease they shall negotiate in good faith respecting
an amendment to the REA and with respect to such leased space, if any.
8.2 Transit Uses. The Agency [OR CITY] shall be permitted to have a non-
commercial transit plaza for transit related purposes, an illustrative plan of which is attached
hereto as Exhibit "H"; provided, however, since the transit plaza is still not well defmed in
Exhibit "H", a transit plaza in that area may be permitted so long as such transit plaza is
consistent with patron circulation flow and the architectural theme of the EXPO Station and the
design and construction of the transit plaza is subject to the prior approval of Authority and
LACMTA.
ARTICLE9
INSURANCE
The Parties agree that insurance requirements shall be attached to this Easement
Agreement as Exhibit "I" as mutually reasonably agreed upon by t.'le Parties at the time this
Easement Agreement
Page 18 of29
14481193.9
ATTACHMENT 2_Public Parking Facilities
516Easement Agreement is prepared for execution by the Agency [OR CITY]. LACMTA's
insurance requirements shall be based on what is then commercially-reasonable in light of all
circumstances at the time, including, without limitation, the actual scope of the Washington
National Project and the proximity of the Washington National Project and its various
components to the Culver City Station. The Parties each agree to negotiate diligently and in
good faith, to refrain from unreasonably withholding or conditioning approval of, and from
unreasonably delaying such negotiation and approval with regard to insurance requirements.
ARTICLE 10
EMINENT DOMAIN
10.1 LACMTA acknowledges that, under the circumstances existing as of the date of
this Agreement, the proposed use of the Easement Area by the Agency [OR CITY] (subject to
all rights therein to be retained by LACMT A as contemplated by this Agreement) is the most
necessary public use for such property. Agency [OR CITY) acknowledges that, under the
circumstances existing as of the date of this Agreement, LACMTA's current and proposed uses
of the LACMTA Parcel are the most necessary public uses for such property.
10.2 Without limiting Section 10.1, in the event that all or a portion of the Easement
Area and/or any improvements, buildings, structures or items pertaining to the realty that might
from. time to time exist within the Easement Area are taken by enlinent domain, Agency [OR
CITY] shall be entitled to any and all condemnation awards allocated for such easement rights
and/or improvements, including without limitation loss of use thereof.
10.3 Nothing in this Article 10 shall affect the existence of the easements granted in
this Easement Agreement. In the event of any condemnation affecting the existence of any
easement granted in this Easement Agreement, the parties shall, to the extent feasible, refocate
such easements pursuant to the provisions and standards set forth herein.
ARTICLE 11
DEFAULT; REMEDIES
11.1 Events of Default. Failure to perform any term or provision of this Easement
Agreement constitutes a default under this Easement Agreement, and upon expiration of any
applicable cure, notice, or grace periods set forth herein, shall constitute an "Event of Default"
hereunder.
11.2 Rights to Cure Default. Each non-defaulting party (in such capacity, a "Non
Defaulting Partv") shall have the right, but not the obligation, to cure any Event of Default by the
other party ("Defaulting Partv") after first giving the Defaulting Party ten (1 0) days prior written
notice of the intention to cure. Notwithstanding the foregoing, if the Non-Defaulting Party
notifies the Defaulting Party that such default is an urgent matter relating to public health and
safety, and such matter is an urgent matter relating to public health and safety, rather than the
notice period set forth in the preceding sentence, the notice period shall be forty-eight ( 48) hours
following receipt of the notice. No cure by the Non-Defaulting Party shall constitute a cure of
Easement Agreement
Page 19 of29
14481193.9
07
ATTACHMENT 2_Public Parking Facilities
517the Event of Default as between the Non-Defaulting Party and the Defaulting Party, and such
cure shall not waive or release the Defaulting Party from any obligations under this Easement
Agreement. In exercising this right, the Non-Defaulting Party may perform all acts and make all
payments it deems desirable to achieve the cure, including the payment of any necessary
expenses and the employment of legal counsel. The Defaulting Party shall reimburse the Non
Defaulting Party for all actual costs reasonably incurred by the Non-Defaulting Party in
connection with achieving the cure of an Event of Default, plus interest at a rate equal to the
lesser of the highest rate permitted by law and a rate equal to the prime rate as reported in the
Wall Street Journal at such time, plus five (5) percentage points (the "Default Rate"),
compounded monthly, from the date any such amounts or expenses are actually expended or
incurred. Such reimbursement shall be due and payable by the Defaulting Party to the Non
Defaulting Party within ten (10) days after the Non-Defaulting Party's written demand for
payment. The Defaulting Party's failure to reimburse the Non-Defaulting Party, whether or not
the Non-Defaulting Party's payment cured the Event of Default, shall constitute a separate Event
of Default if not paid by Defaulting Party within fifteen (15) days after the due date.
11.3 Injunctive Relief. Either Party may proceed at law or in equity to prevent the
violation or continuing violation of any of the covenants, conditions and restrictions set forth in
this Easement Agreement, to cause any violation to be remedied and to recover damages
therefore. Unless otherwise provided herein, in addition to other remedies specifically provided
in this flasement Agr~ement or at law or in equity, the None Defaulting Party shall by authorized,
and entitled wherever there is otherwise a right to equitable or injunctive relief to bring any.
proceedings in the nature of specific performance or injunction, or to obtain any equitable
remedy.
11.4 Costs. The Non-Defaulting Party shall be entitled to receive from the Defaulting
Party any actual costs incurred by the Non-Defaulting Party in connection with any Event of
Default, together with interest on all funds the Non-Defaulting Party expends with interest at the
Default Rate, compounded monthly.
11.5 Time to Cure. Unless otherwise specified in a particular Section of this Easement
Agreement, a party in default shall have thirty (30) days subsequent to the giving of notice
within which to cure a default. If such default cannot with the exercise of due diligence be cured
within such thirty (30) days, such thirty (30) day period shall be extended for such additional
time as may be required to cure the default with due diligence, provided the party in default
commences to cure the default within such thirty (30) day period and thereafter proceeds
diligently to cure such default within a reasonable time.
11.6 Conditional Securitv Assignment of Agency [OR CITY] Enforcement Rights.
As additional security for performance of Agency's [OR CITY'S] obligations hereunder,
Agency [OR CITY] hereby agrees to conditionally transfer, set over and assign to LACMTA, a
security interest in Agency's [OR CITY'S] right, title and interest in enforcement of any
obligations of the owner the Washington National Project pursuant to any agreements between
Agency [OR CITY] and such owner, said transfer and assignment to automatically become a
present, unconditional assignment, at LACMT A's option exercised by written notice to Agency
[OR CITY] and the owner the Wasl:>ington National Project, upon the occutTence and during the
Easement Agreement
Page 20 of29
14481193.9
ATTACHMENT 2_Public Parking Facilities
518continuance of ari Event of Default, provided that Agency [OR CITY] is not then diligently
undertaking to exercise such enforcement rights. Agency [OR CITY] and LACMTA hereby
agree that LACMTA's enforcement rights under this Section 11.6 shall be subordinate to those
of any Mortgagee. Concurrently with the execution of this Easement Agreement, Agency [OR
CITY] shall deliver to LACMTA evidence reasonably acceptable to LACMTA that the
conditional assignment under this Section 11.6 has been acknowledged by the owner of the
Washington National Project and is enforceable.
II. 7 Cumulative Remedies. The remedies hereby specified are cumulative, and the
specification of a remedy shall not be deemed to preclude an aggrieved person's resort to any
other remedy at law, in equity or under any statute.
ARTICLE 12
NOTICES
All notices under this Easement Agreement shall be sufficiently given if delivered or
mailed by registered or certified mail, postage prepaid and return receipt requested, or by
nationally recognized overnight courier service, and addressed as follows:
Easement Agreement
14481193.9
To Agency: [IF CITY IS THE PARTY, CHANGE TO CITY NOTICE
ADDRESS(ES)]
Assistant Executive Director
Culver City Redevelopment Agency
9770 Culver Boulevard
Culver City, CA 90230
Facsimile No.: (310) 253-5779
ToLACMTA:
Chief, Real Property Management and Development
Los Angeles County Metropolitan Transportation Authority
One Gateway Plaza
Los Angeles, California 90012
Facsimile No.: (213) 922-2228
With a copy to:
General Counsel
Los Angeles County Metropolitan Transportation Authority
One Gateway Plaza
Los Angeles, CA 90012
Facsimile No.: (213) 922-7432
Page 21 of29
69
ATTACHMENT 2_Public Parking Facilities
519
Any notice or demand required shall be given (a) personally, (b) by certified or registered
mail, postage prepaid, return-receipt requested, (c) by confirmed fax, or (d) by reliable
messenger or overnight courier to the address of the parties set forth above. Any notice served
personally shall be deemed delivered upon receipt, served by facsimile transmission shall be
deemed delivered on the date of receipt as shown on the received facsimile if during regular
business hours and if not, the next business day, and served by certified or registered mail or by
reliable messenger or overnight courier shall be deemed delivered on the date of receipt as
shown on the addressee's registry or certification of receipt or on the date receipt is refused as
shown on the records or manifest of the U.S. Postal Service or such courier, or five (5) business
days after deposit in the United States mail in Los Angeles County. Agency [OR CITY] or
LACMTA may from time to time designate any other address or addressee or additional
addressees for this purpose by written notice to the other party.
The parties may also designate other procedures for the giving of notice as required or
permitted under the terms of this Easement Agreement, but each alternate procedure shall be
described in a writing and signed by LACMTA and Agency[ OR CITY].
ARTICLE 13
l\;10RTGAGES
13.1 Right to Encumber. Subject to Section 13.6, below, Agency [OR CITY] and the
owner(s) of the Washington National Project shall have the absolute right at any time, without
consent from LACMTA, to encumber such party's interest in the Easement Area and/or this
Easement Agreement in any way, including but not limited to, any mortgage or deed of trust
and/or assignment or pledge of such party's interest in the Easement Area and/or this Easement
Agreement, in Agency's [OR CITY'S] or the owner of the Washington National Project's sole
discretion. Neither the Agency [OR CITY] nor the owner(s) of the Washington National Project
shall have any right or authority to encumber LACMT A's fee interest or retained rights of
LACMTA in the Easement Area.
13.2 Mortgagee's Oooortunitv to Cure. In addition to the other rights of mortgagees or
lenders of the Washington National Project (each a "Mortgagee" or collectively the
''Mortgagees") set forth in this Easement Agreement, during the continuance of any mortgage of
or loan for the Washington National Project (each a "Mortgage") and until such time as the lien
of any such mortgage has been extinguished and/or the loan has been repaid, any Mortgagees
shall have the rights set forth below.
13.3 Payments by Mortgagees. Any Mortgagee shall have the right, but not the
obligation, to pay all of the amounts due hereunder by Agency [OR CITY], to effect any
insurance, to make any repairs and improvements, to do any act or thing required of the Agency
[OR CITY] hereunder; and to do any act or thing which may be necessary and proper to be done
in the performance and observance of the agreements, covenants and conditions hereof to
prevent a default under this Easement Agreement by Agency [OR CITY]. All payments so
made and all things so done and performed by a Mortgagee shall be effective to prevent a default
Easement Agreement
Page 22 of29
14481193.9
ATTACHMENT 2_Public Parking Facilities
520under this Easement Agreement as the same would have been if made, done and performed by
Agency [OR CITY] instead of by the Mortgagee.
13.4 Notice to Mortgagees. At the request of a Mortgagee given in accordance with
the notice provisions of this Easement Agreement, LACMTA shall mail or deliver to such
Mortgagee a duplicate copy of any and all notices which LACMTA may from time to time give
to or serve upon Agency [OR CITY] pursuant to the provisions of this Easement Agreement and
such copy shall be mailed or delivered to each Mortgagee simultaneously with and in the same
manner as the mailing or delivery of the same to Agency[ OR CITY].
l
13.5 Limitation of Enforcement Against Mortgagee. No violation of this Easement
Agreement by, or enforcement of this Easement Agreement against, Agency [OR CITY] shall
defeat or render invalid, the lien and/or repayment of any Mortgage, provided that such
Mortgage is and shall be subject to the terms and provisions of this Easement Agreement.
13.6 Insurance and Condemnation Proceeds. No provisjon of this Easement
Agreement shall be construed to give either PartY or any other person priority over the rights of
any Mortgagee with respect to the distribution of insurance proceeds or proceeds of a
condemnation for property encumbered by such Mortgagee's Mortgage.
13.7 Subordination. Notwithstat;~.ding _anything. to the contrt 5!RlCI'.I!lt " ......... ---· (
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PARCEL PLAT
FFP 179
SHEET 1 OF 1
ORIGINAL SUBMITTAl
REVISION DESCRIPTION
LINE DATA
BEARING DISTANCE
SB3"26'42"E 14.94'
S54"31'J9'W 74.68'
N06"34'12'E 55.57'
N06"34'12'E 59.00'
N06~ 34' 12"£ 26.57'
N55"56'09"E 98.97'
IIEV.(UdE
ATTACHMENT 2_Public Parking Facilities
543EXHIBITE-2
LEGAL DESCRIPTION OF EASEMENT AREA
[behind this page]
1448! 193.9
ATTACHMENT 2_Public Parking Facilities
544Exhibit E-2
PSOMAS
I
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2 LEGAL DESCRIPTION
3
4 FFP 179
5 I
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6 In the Cities of Culver City and Los Angeles, County of Los Angeles, State of California,
7 being those portions ofParcel48 and 49 of the Grant Deed recorded January 15, 1991 as
8 Instrument No. 91-63428, Official Records of said County, as shown on the map filed in
9 Book 226, Pages 68 through 85, inclusive, of Records of Survey, in the Office of the
10 County Recorder of said County; bounded northerly by the northerly line of said Parcel
II 49, said northerly line also being the southerly line of Exposition Boulevard, 40.00 feet
12
1
wide; bounded northwesterly by a line lying 25.00 feet southeasterly of and parallel with
I
I3 I! the centerline of the South,Barrel of Venice Boulevard; bounded westerly by a line lying
I4 !J 25.00 feet easterly of and p~el with the centerline ofRobertson Boulevard; bounded
I5 II southerly by a line lying 91.00 feet southerly of and parallel with the northerly line of
16 I! said Parcel 49; and bounded southeasterly by a line lying 48.00 feet northwesterly of and
I7 11 parallel with the centerline of Washington Boulevard; all previously described centerlines
IS I shown on said Record of Survey.
I9
20 I Containing 72,773 square feet.
21
22 All as shown on Exhibit "B" attached hereto and made a part thereof
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Distances as described above and as shown on said Exhibit "B" are grid distances.
Ground distances may be obtained by dividing grid distances by the mean combination
factor of the courses being described. The mean combination factor for this conversion is
L00000213.
M:\2DMJD50506\SURVEY\LEGALS\X-LG-FFP 179.doc
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ATTACHMENT 2_Public Parking Facilities
545PSOMAS
1
2 Tiris legal description is not intended to be usea in the conveyance ofland in violation of
3 the Subdivision Map Act of the State of California.
4
5 This legal description was prepared by me or under my direction.
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9
10 Date
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M:\2DMJ050506\SUR VEY\LEGALS\X-LG-FFP l79.doc
9115/2011 .
Page2 of2
ATTACHMENT 2_Public Parking Facilities
546EXHIBIT F
PERMITTED PARA TRANSITSHUTTLE SERVICE AREA
[behind this page]
14481193.9
0\7
./I
ATTACHMENT 2_Public Parking Facilities
547EXHIBIT "F"
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ATTACHMENT 2_Public Parking Facilities
548EXHIBITG
DEEMED APPROVAL PROCEDURES
The following provisions shall govern LACMTA and Authority approval of plans and
specifications submitted by Agency [OR CITY] pursuant to this Easement Agreement
and/or any document entered into pursuant to this Easement Agreement. All references to
"Metro" in this Exhibit shall mean LACMTA and/or Authority, as applicable.
Deemed Approval of Plans and Specifications. This Exhibit "G" shall be applicable only to
plans and specifications for improvements submitted by Agency [OR CITY] at a level of
design development subsequent to Metro's approval of a 30% completion level for plans and
specifications (the "30% Drawings") for such improvements, provided that such plans and
specifications (a) do not contain modifications to the plans and specifications approved by
LACMTA at the previous level of design development (other than modifications that
represent a logical evolution of the elements depicted, described or specified in the previous
Level of Design Development). This Exhibit "G" shall not be applicable to Metro's approval
of any 30% Drawings or to any plans and specifications submitted other than in accordance
with this Easement Agreement and this Exhibit "G". Plans and specifications (other than
conceptual plans) submitted to Metro at a particular level of design development in
a.ccordance herewith shall be deemed. approved by Metro, if Metro fails to approve,
disapprove or request changes to the same within ten (I 0) business days after its receipt of a
written notice from Agency [OR CITY) (delivered after expiration of the applicable thirty
(30) day period noted in this Easement Agreement), indicating Metro's failure to provide
such approval, disapproval or request for changes; provided:
(I) Such written notice contains the following provisions, in large type and in
bold print:
"THIS IS YOUR SECOND AND FINAL NOTICE REGARDING THIS MATTER.
FAILURE TO APPROVE OR DISAPPROVE THE REQUESTED MATTER
WITHIN TEN (10) BUSINESS DAYS AFTER YOUR RECEIPT OF THIS
REQUEST SHALL BE DEEMED AN APPROVAL OF THE SAME PURSUANT
TO EXHIBIT G OF THE EASEMENT AGREEMENT WITH THE AGENCY[OR
CITY]"; and
(2) At the time the subject plans and specifications are submitted to Metro,
Agency [OR CITY) provides Metro with a written notice requesting approval of such
plans and specifications and sets forth in such written notice one or the other of the
following provisions (as applicable), in large type and in bold print:
(a) If such submittal is the initial submittal of plans and specifications
at a particular level of design development or is a submittal of plans and specifications at
a particular level of design development for any reason other than as set forth in t':!e
following subsection (b), below, then the following provision shall be included in the
written notice:
14481193.9
99
ATTACHMENT 2_Public Parking Facilities
549144&1193.9
"NOTICE IS HEREBY GIVEN THAT FAILURE TO APPROVE OR
DISAPPROVE THE REQUESTED MATTER WITHIN THIRTY (30) DAYS
AFTER YOUR RECEIPT OF THIS REQUEST SHALL BE DEEMED AN
APPROVAL OF THE SAME PURSUANT TO EXHIBIT G OF THE EASEMENT
AGREEMENT WITH THE AGENCY[OR CITY]"
(b) If such submittal is a re-submittal of plans and specifications at a
particular level of design development due solely to either a previous Metro disapproval
of plans and specifications at that level of design development or a previous Metro
request for changes to plans and specifications at that level of design development, then
the following provision shall be included in the written notice:
"NOTICE IS HEREBY GIVEN THAT FAILURE TO APPROVE OR
DISAPPROVE THE REQUESTED MATTER WITHIN FIFTEEN (15) DAYS
AFTER YOUR RECEIPT OF THIS REQUEST SHALL BE DEEMED AN
APPROVAL OF THE SAME PURSUANT TO EXHIBIT G OF THE EASEMENT
AGREEMENT WITH THE AGENCY[ OR CITY]''
ATTACHMENT 2_Public Parking Facilities
550JO}
EXHIBITH
TRANSIT PLAZA CONCEPT PLAN
[behind this page]
14481193.9
ATTACHMENT 2_Public Parking Facilities
551I .
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