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PLUM approves 51‑story TFAR project; 50% of public-benefit payment redirected to CD14 trust fund
Summary
The committee approved a 51‑story mixed‑use project that uses Transfer of Floor Area Rights (TFAR) from the Convention Center, and amended conditions to redirect 50% of the project’s public-benefit payment (about $5.73 million) to a Council District 14 Public Benefit Trust Fund.
The Planning and Land Use Management Committee approved a 51‑story, mixed‑use receiver-site project that uses Transfer of Floor Area Rights (TFAR) from the Los Angeles Convention Center and adopted a technical modification to redirect 50 percent of the project’s public‑benefit payment — $5,731,235.70 — to a Council District 14 Public Benefit Trust Fund.
Alice Okamura of LA City Planning presented the project and the technical corrections; she said the committee previously considered the project and that planning submitted a technical modification and corrected the public‑benefit payment amount. The project as described would…
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