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CC - Consideration of an Agreement with CP V Cumulus, LLC for Funding of Transportation Enhancement Projects in Culver City Related to Impacts from the Cumulus Development Project
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Meeting Date: June 26, 2017
Contact Person/Dept: Charles D. Herbertson/PW
Phone Number: (310) 253-5630
Fiscal Impact: Yes [X] No [] General Fund: Yes [] No [X]
Public Hearing: [] Action Item: [] Attachments: []
Commission Action Required: Yes [] No [X] Date:
Public Notification: (E-Mail) Meetings and Agendas - City Council (06/21/17);
Department Approval: Charles D. Herbertson, Public Works Director/City Engineer (06/14/17)
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RECOMMENDATION
Staff recommends the City Council approve an agreement with CP V Cumulus, LLC ("Cumulus") for the funding of transportation enhancement projects in Culver City related to impacts from the Cumulus development project.
BACKGROUND
The Cumulus Development Project ("Project"), which was approved by the Los Angeles City Council on May 25, 2016, is a transit oriented/mixed-use development located on the northwest corner of La Cienega Boulevard at Jefferson Boulevard in the City of Los Angeles and consists of the demolition of an existing office building, accessory structures and four light industrial structures (approximately 63,313 square feet), two existing radio tower structures and the development of an approximately 1,900,000 square foot transit oriented/mixed-use development, which could include up to 1,210 multi-family residential units and 300,000 square feet of commercial uses. The Project site is approximately 11.19 acres (about 487,535 square feet).
During the Project entitlement process, the City received a Notice of Preparation (NOP) of the Project's Environmental Impact Report (EIR) and, on April 13, 2015, in response to the NOP, staff submitted preliminary comments related to the Project's...
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