CITY OF LOS ANGELES
GRAND AVENUE LOS ANGELES
RSG was retained by the Office of the Chief Legislative Analyst in February 2014 following the approval by the Grand Avenue Authority (GAA) of the Related Companies/Gerhy Partners conceptual site plan and 4th amendment to the disposition and development agreement. Due to the GAA’s aggressive schedule that compels the developer and City to execute additional agreements conditioned upon financial analysis, RSG had less than 60 days to commence and deliver a draft report on this iconic, $950 million mixed-use project. Preliminary findings were delivered approximately 3 weeks after receipt of information, shared with the developer the following week, and a refined analysis and comprehensive draft report were presented within less than 2 months. The report evaluated the financial feasibility and fiscal and economic benefits of the project for both the City and County of Los Angeles, and lays the groundwork for ongoing negotiations on a revised funding agreement for City participation in the financing.