City Council

(20) 24­0977 CD 15 ADMINISTRATIVE EXEMPTION and COMMUNICATION FROM THE BOARD OF HARBOR COMMISSIONERS (BOARD) relative to the proposed First Amendment to Permit No. 750 between the City of Los Angeles Harbor Department and SA Recycling, LLC. Friday - August 30, 2024 - PAGE 15 Recommendations for Council action: Items for which Public Hearings Have Not Been Held ­ (10 Votes Required for Consideration) (20) 24­0977 CD 15 ADMINISTRATIVE EXEMPTION and COMMUNICATION FROM THE BOARD OF HARBOR COMMISSIONERS (BOARD) relative to the proposed First Amendment to Permit No. 750 between the City of Los Angeles Harbor Department and SA Recycling, LLC. Recommendations for Council action: 1. ADOPT the determination by the Board that the proposed action has been previously evaluated pursuant to the requirements of the California Environmental Quality Act (CEQA) under Article II Section 2(i) of the Los Angeles City CEQA Guidelines. 2. APPROVE Port Of Los Angeles Resolution No. 24­10384 for the proposed First Amendment to Permit No. 750 between the City of Los Angeles Harbor Department and SA Recycling, LLC. Fiscal Impact Statement: The City Administrative Officer reports that approval of the proposed Amendment to Permit No. 750 with SA Recycling will increase compensation from $3,969,079 by $2,434,923 to a new Minimum Annual Guarantee (MAG) of $6,404,002. The compensation structure will be changed such that land rent, wharfage, and dockage will be subject to an aggregate MAG of $6,404,002 in Year 1. Thereafter, MAG will increase by the greater of the annual change in the Consumer Price Index or two percent. Revenues are to be deposited in the Harbor Revenue Fund. The recommendations in the report and proposed actions comply with the Harbor Department’s Financial Policies. There is no impact on the City’s General Fund.