Board of Airport Commissioners

RESOLUTION NO.      - First Amendment to Lease VNA-9143 with Custom Products International, Inc.:  To extend the term by thirty-eight (38) months, covering office space in Aviation Plaza, owned by Los Angeles World Airports and located at 16461 Sherman Way, Van Nuys, for estimated net revenue of $37,463 over the extension term \nPURPOSE: Staff requests approval of the proposed First Amendment to the office lease with Custom Products International, Inc. for space at Aviation Plaza at Van Nuys Airport. The Board action will extend the term of the existing lease by thirty-eight (38) months and maintain rental income from leasing at said facility. \nRECOMMENDATIONS: Adoption of the Report requesting that the Board of Airport Commissioners determine that this action is exempt from the California Environmental Quality Act (CEQA) pursuant to Article III, Classes 1(1) and 1(18)(c) of the Los Angeles City CEQA Guidelines; find that the City's competitive bidding restrictions do not apply pursuant to Board Resolution 27530 whereby the Board of Airport Commissioners and the City Council found that it would be in the best interest of the City to contract with Colliers International Real Estate Management Services, Inc. for leasing services at Aviation Plaza; approve the First Amendment to Lease VNA-9143 with Custom Products International, Inc.; authorize the Chief Executive Officer, or designee, to execute said First Amendment after approval as to form by the City Attorney; and further approve appropriation of $7,300 for tenant improvements and $2,857.22 for broker commissions to Aviation Plaza. (David Jones)\n06 report