Port of LA

7. RESOLUTION NO. __________ - ORDERS RESETTING COMPENSATION FOR NINE\nEAST BASIN/CERRITOS CHANNEL WILMINGTON MARINAS\nSummary: Staff requests approval of the proposed compensation resets Orders for nine marinas\nlocated in the East Basin/Cerritos Channel area of Wilmington. The compensation resets are for\nthe five-year period from November 1, 2020, through October 31, 2025. The new Minimum Fixed\nRent (MFR) is based on the Economic Performance Methodology (EPM) which determines the\nmarina’s minimum fixed rent by calculating 75 percent of each marina’s average monthly net\nreceipts for the past three years (2017, 2018, and 2019).\nRecommendation: Board resolve to (1) find that the proposed action is exempt from the\nrequirements of the California Environmental Quality Act (CEQA) under Article II Section 2(f) of the\nLos Angeles City CEQA Guidelines as determined by the Director of Environmental Management;\n(2) adopt the Orders resetting compensation for the Wilmington Marinas for the period of November\n1, 2020, through October 31, 2025; (3) authorize the Board Secretary to attest to the Orders\nresetting compensation; and (4) adopt Resolution No.__________ and Order Nos. ________.\nEnvironmental Management