City Council

(4) 25-1423 CD 10 GOVERNMENT OPERATIONS COMMITTEE REPORT relative to proposed lease agreement with 2922 South Crenshaw Blvd (LA) OZ Owner, LLC, for office space at 2922 South Crenshaw Boulevard, Los Angeles, CA 90016 that will be utilized as a field office for Council District Ten. Recommendation for Council action: AUTHORIZE the Department of General Services to negotiate and execute a lease agreement with 2922 South Crenshaw Blvd (LA) OZ Owner, LLC, a Delaware limited liability company for a Council District 10 field office located at 2922 South Crenshaw Boulevard, Suite 350 Los Angeles, CA 90016 under the terms and conditions substantially outlined in the July 22, 2026 Municipal Facilities Committee (MFC) report, attached to the Council File. Fiscal Impact Statement: The MFC reports that the proposed lease costs for this location total $490,585 for Fiscal Year (FY) 2026-27 projecting ten months of occupancy/rent. Base rent, utilities, janitorial and parking costs are estimated to cost $210,585 including $84,551 of rent and parking abatement credit. The one-time furniture, moving, and IT related costs are estimated at $280,000. With $303,000 budgeted for this lease for FY 2026-27, $187,585 is the estimated unfunded portion. GSD will coordinate with the City Administrative Officer through the Quarterly Status Report process to identify any savings within the account which could potentially offset these additional costs. At this time there is no negative impact to the General Fund. Funding for future FYs will be requested in the annual budget process.