The following terms, whenever used in this article, shall apply only to the Transfer of Floor Area Rights procedures in this article and shall be defined as set forth below. Other terms used in this article shall have the meanings set forth in Section 12.03 of this Code, if defined there.
Administrator means the chief executive officer of the Agency and their designee.
Agency means the Community Redevelopment Agency of the City of Los Angeles.
Agency Board means the Board of Commissioners of the Community Redevelopment Agency of the City of Los Angeles.
Applicant means the owner of a Receiver Site who has submitted a proposed Transfer Plan to the Agency or the Department of City Planning.
Appraisal means an economic valuation of the Receiver Site submitted by the Applicant, which (a) has been prepared by an MAI appraiser with at least five years experience in appraising property in the City and (b) sets forth the fair market value of the Receiver Site (i) as of the date the application was submitted and (ii) as if the Receiver Site were vacant and used for its highest and best use under all then current zoning and planning restrictions and Agency policies affecting the Receiver Site.
Buildable Area means the same as Lot Area, with the following exception: for the purposes of computing the maximum Floor Area Rights available through the approval of a Transfer Plan for a Transit Area Mixed Use Project, as defined herein, the buildable area shall include the lot area plus the area between the exterior lot lines and the centerline of any abutting public right-of-way.
Central City TFAR Area means those portions of the Central City Community Plan Area, including portions of the City Center Redevelopment Project Area, as shown on Map A, dated April 30, 2010, and attached to Council File No. 10-1175, generally bounded by: U.S. Highway 101 on the north; Alameda Street, Los Angeles Street, San Pedro Street, and Main Street on the east; the Santa Monica Freeway (Interstate 10) on the south; and the Harbor Freeway (110 Freeway) and Hill Street on the west.
City Council means the City Council of the City of Los Angeles.
Commission means the City Planning Commission of the City of Los Angeles.
Community Plan means the Central City Community Plan, a part of the General Plan of the City of Los Angeles, and including amendments to the Community Plan.
Department means the Department of City Planning.
Donor Site means a site within the Central City TFAR Area from which Floor Area Rights are transferred pursuant to the provisions of this article.
Floor Area Deviation means the Transfer of Floor Area of less than 50,000 square feet as determined by the Director.
Floor Area Ratio (FAR) means the Floor Area of a building divided by the Lot Area of the lot (prior to any dedications) upon which it is located. Notwithstanding the above, the maximum Floor Area Ratio of a Transit Area Mixed Use Project shall mean the Floor Area of a building divided by the Buildable Area.
Floor Area Rights means the ability to construct additional Floor Area within a Project, pursuant to an approved Transfer Plan, in excess of the amount of Floor Area that Project would be allowed based on its Lot Area, or, in the case of a Transit Area Mixed Use Project, the Buildable Area.
High-Density Floor Area Ratio Factor means a denominator of six and is used in calculating the amount of any TFAR Transfer Payment.
Lot Area means the total horizontal area within the lot lines of a lot (prior to any dedication).
Project means a building or structure or structural alteration or enlargement of an existing building or structure on a Receiver Site within the Central City TFAR Area.
Public Benefits means amenities provided to the public including, but not limited to, providing for affordable housing; public open space; historic preservation; recreational, cultural, community and public facilities; job training and outreach programs; local hiring; payment of prevailing wages; affordable child care; streetscape improvements; sustainability features; public arts programs; homeless services programs; or public transportation improvements.
Public Benefit Payment means that dollar sum established by the application of the formula set forth in Section 14.5.9 of this Code.
Public Benefit Payment Trust Fund means that certain interest-bearing Trust Account administered by the City Clerk’s Office designated as CB Public Benefit Program Fund 5158, from which funds may be distributed as set forth in Section 14.5.12 of this Code.
Receiver Site means a site within the Central City TFAR Area, which receives Floor Area Rights pursuant to the provisions of this article.
Redevelopment Plan means the City Center Redevelopment Project adopted by Ordinance No. 174,593 on May 15, 2002, or as subsequently amended.
Redevelopment Project Area means the City Center Redevelopment Project Areas, as described in the City Center Redevelopment Plans.
TFAR Transfer Payment means the payment made by the owner of a Receiver Site in exchange for the Agency’s or City’s Transfer of Floor Area Rights to a Receiver Site pursuant to the valuation method set forth in Section 14.5.10 of this Code.
Transfer means the conveyance of unused allowable Floor Area of a lot from a Donor Site to a Receiver Site, which is approved in accordance with the requirements of this article.
Transfer Plan means a plan that identifies and describes the Donor Site(s), Receiver Site(s), the amount of Floor Area Rights to be transferred and the Public Benefit Payment.
Transit Area Mixed Use Project means any Project or portion of a Project in the Central City TFAR Area that: (1) provides floor area for at least two different land uses, such as commercial office and commercial retail, commercial office and multi-family residential, or commercial retail and hotel, or any other combination of uses; (2) is located within 1500 feet of a fixed rail transit station, as measured from the exterior lot line to the nearest station entrance; and (3) meets the standards and guidelines in the Downtown Design Guide.