September 21, 2009 Administration of Residential Acquisition and Relocation Programs: -Belford -Manchester Square

2 Today’s Discussion Purpose: 1.Describe how staff plans to manage the program going forward

3 Prior BOAC Briefing Findings and Program Needs 1.The existing process and procedures have: Worked well for single family properties Are less effective for multi-family rental properties 2.Existing process relies on delegated authority to LAWA staff Involves BOAC too late in the decision process, especially in changing market conditions Property owners perceive uncertainty in the process 3.A supplemental approach to the existing process: Existing process will remain available to property owners Supplemental approach will facilitate “structured” negotiations with willing property owners, using an agreed upon process for negotiations that engages BOAC earlier 4.The relocation assistance programs for occupants and renters will not be modified

4 Acquisition Process 1.Properties being considered for acquisition under the existing program processes will be identified for the BOAC prior to the commencement of appraisals or any other expenditures related to acquisition Currently there are 14 single family Manchester Square properties are covered by the existing process, 3 of which are actively proceeding toward acquisition 2.A negotiation process will be used where owners agree to this alternative approach 4 owners of Belford properties (46 units) have agreed to start a negotiation process, based on a feasibility study approach Property acquisitions using the supplemental approach will require BOAC approval and may require City Council approval prior to close 3.Each future potential acquisition using a negotiation approach will be A case-by-case approach that makes negotiation rules transparent Brought to the BOAC prior to start of the negotiation process May require more approvals to close transactions