29 Sep Big News on the River – Art, Parks, and River Committee Push the G2 Parcel Towards Escrow
On September 26th, the Art, Parks, and River Committee took public comment and then recessed into closed session where they considered moving the G2 parcel of the Taylor Yard into escrow. After thoughtful consideration of factors like the cost of land, the opportunity the site provides in LA River restoration, and the steps to come, the Committee decided to move forward with opening escrow on the parcel. This is truly a monumental moment in LA River restoration history.
As you are likely already well aware, the G2 parcel is an integral part of the restorative vision proposed by Alternative 20 of the ARBOR EIR. This 42-acre site, currently owned by railway operator Union Pacific, is identified as a “key opportunity area”. As a privately-owned property that has been used for industrial purposes, the City of LA has not only had to negotiate a purchase price but also estimate the cost of environmental remediation for the site. This will be needed to bring the site up to safe and accepted standards for public access.
The Committee’s Monday afternoon decision was singularly focused on purchase price, the cost of environmental remediation will be considered and budgeted for in a separate action at a future date. While this singular action is only the first of many steps to come before the vision of Alternative 20 of the ARBOR EIR becomes a reality, the envisioned outcome is 42 acres of open space and restored ecological habitat along the banks of the River in Council Districts 1, 4, 13, and 14.
The next steps will include a review and decision from the City’s Budget and Finance Committee, before moving the G2 parcel into escrow is considered and decided upon by the full City Council. The terms of a negotiated deal requires that escrow be entered into by October 31st, 2016. This means things are going to happen very fast! To that end, please watch for additional information and communications from us regarding this precedent-setting opportunity. Once it heads to the City Council for approval, we will count on your support and voice to ensure all goes well.
After approval by the City Council, planning, design, and environmental remediation will need to take place. We’re in this for the long haul and hope you are too!
See the full City staff report here.