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CC - Approval of a Settlement Agreement to Relocate David K's T-Shirt Printing Located at 8926 Venice Boulevard.
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Contact Person/Dept: Todd Tipton/CDD
Phone Number: (310) 253-5783
Fiscal Impact: Yes [X] No [] General Fund: Yes [] No [X]
Public Hearing: [] Action Item: [] Attachments: Yes [] No [X]
Commission Action Required: Yes [] No [X] Date:
Commission Name:
Public Notification: (E-Mail) Meetings and Agendas - City Council (06/21/16)
Department Approval: Sol Blumenfeld, Community Development Director (06/21/16)
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RECOMMENDATION
That the City Council approve a Settlement Agreement to relocate David K's T-Shirt Printing located at 8926 Venice Boulevard.
BACKGROUND/DISCUSSION
In early 2011 the City acquired five separate properties located at 8900-8936 Venice Boulevard (Venice Properties). The Venice Properties were acquired in order to assemble the land for a Transit Oriented Development (TOD) project adjacent to the Exposition Light Rail (Expo).
The Venice Properties are located in the City of Los Angeles and four of the five are subject to commercial property leases; the remaining property (a surface parking lot) is not. Of the four that are subject to a lease, three can be terminated subject to 30-day's notice (month-to-month) and the fourth lease (David K's T-Shirt Printing - 8926 Venice Boulevard) remains in effect until 2021.
In September 2014 the City and Successor Agency to the Culver City Redevelopment Agency (SA) entered into an Implementation Agreement with Lowe Enterprises Real Estate Group (Lowe) to construct the Ivy Station project ("Project"). The Project site is comprised of the Venice Properties and properties owned by the SA in Culver City. The SA's properties are currently used by the Los Angeles County Metropolitan Transportation Authority (Metro) as a surf...
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