City Council

(11)\n26-0261\nGOVERNMENT OPERATIONS COMMITTEE REPORT relative\nto application from Hood 1703, LLC (Hood) to develop undersea\n(subsea) fiber optic telecommunications cable landing infrastructure.\nRecommendations for Council action:\n1. APPROVE the application from Hood to develop undersea\n(subsea) fiber optic telecommunications cable landing\ninfrastructure to further the City of Los Angeles’ growth as a\ndigital technology hub.\n2. REQUEST the City Attorney to prepare and present a draft\nOrdinance with a 21 year term allowing for this franchise.\nFiscal Impact Statement: The Information Technology Agency reports\nthat approval of this IT System franchise will generate $2,500 in\napplication fees and $70,500 in annual franchise fees over the next\n21 years for a total of $1,480,500 during the 21 year term of the\nfranchise.