Typically the precursor to demolition, the TOC (transit oriented communities) verification is a way for the owners to see what construction incentives are available to them.
The incentive program was a part of Measure JJJ that was passed in 2016. It encourages the construction of housing near bus and train stations. It was created to encourage options for low-income residence and promote public transportation.
Possible incentives include additional FAR (floor area ratio – meaning the square feet of living space they’re allowed to build on the lot), fewer parking spots, decreased open space, and decreased yard area.
The information above is taken from this page: https://planning.lacity.org/plans-policies/transit-oriented-communities-incentive-program