Port of LA

2. RESOLUTION NO. ____________ - ORDER APPROVING COMPENSATION RESET\nUNDER PERMIT NO. 900 WITH WWL VEHICLE SERVICES AMERICAS, INC.\nSummary: Staff requests approval of the Order resetting compensation under Permit No. 900\n(Permit) between the City of Los Angeles Harbor Department (Harbor Department) and WWL\nVehicle Services Americas, Inc. (WWL). The reset covers the five-year period from January 1,\n2022 through December 31, 2026, and will result in a $6,394,437, or 58.7 percent, increase in\nthe minimum annual guarantee (MAG) from $10,885,563 to $17,280,000 per year, effective\nJanuary 1, 2022. The MAG is subject to annual increases in July per the terms of the Permit,\nbased on increases in the Consumer Price Index (CPI), with a floor of zero.\nRecommendation: Board resolve to (1) find that the Director of Environmental Management has\ndetermined that the proposed action is administratively exempt from the requirements of the\nCalifornia Environmental Quality Act (CEQA) under Article II Section 2(f) of the Los Angeles City\nCEQA Guidelines; (2) approve the Order resetting compensation under Permit No. 900 with\nWWL Vehicle Services Americas, Inc.; (3) authorize the Board Secretary to attest to the Order\nresetting compensation under Permit No. 900; and (4) adopt Resolution No.____________ and\nOrder No.____________.\nCargo & Industrial Real Estate