LA County Board

26. Disbursement, Gratis Lease, and Leaseback Agreement\nRevised recommendation: Authorize the Interim Chief Executive Officer to\nexecute a proposed Disbursement Agreement with 350 South Figueroa, LLC to\nprovide funding in an amount up to $8,189,007 for the County's reimbursement\nof the Stabilization Work costs to be performed at the County's Portion of the\nWorld Trade Center (WTC) Garage. Authorize the Interim Chief Executive\nOfficer to execute a proposed Lease with 350 South Figueroa, LLC, to provide\naccess so that 350 South Figuroa LLC can provide and perform the\nStabilization Work to the County's Portion of the WTC Garage. Authorize the\nInterim Chief Executive Officer to execute the Leaseback with 350 South\nFigueroa, LLC, to provide for continued use by the County and the public,\nduring the Stabilization Work of the 1,184 parking spaces located within the\nCounty's Portion of the WTC Garage. Authorize and direct the Interim Chief\nExecutive Officer to execute any other ancillary documentation necessary to\neffectuate the proposed Disbursement Agreement, Lease, and Leaseback and\nto take actions necessary and appropriate to implement the proposed\nDisbursement Agreement, Lease, and Leaseback. Find that the execution of the\nproposed Disbursement Agreement, Lease, and Leaseback are exempt from\nthe California Environmental Quality Act. (Continued from the meetings of\n5-12-26 and 5-19-26) (26-2609)\nRevised Board Letter