Metro’s board of directors agreed Thursday to pay $6.45 million for 16 acres of District land to build a new bus garage, the latest step in a years-long real estate deal.

The property, a former homeless shelter known as D.C. Village in the southernmost tip of the city, was valued at $8.05 million. But the District agreed to drop the price by $1.6 million as credit for months of failing to pay the transit agency as promised under an earlier agreement.

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