Board of Airport Commissioners

RESOLUTION NO.      - Five (5)-year Lease with CalPortland Company, and associated rental rates:  With a five (5)-year extension option, covering the property located at 5299 West 111th Street within Los Angeles International Airport, for estimated revenue of $4,544,001 over the initial five (5)-year term, exclusive of periodic rental rate adjustments \nPURPOSE: The purpose is to request approval of a proposed lease with CalPortland Company to operate a ready-mix concrete batching plant site located at Los Angeles International Airport. Approval of the proposed lease will allow CalPortland Company to continue providing concrete to the community, including for use in airport projects, with minimal delivery transit times, and will generate non-aeronautical revenue for Los Angeles World Airports. \nRECOMMENDATIONS: Adoption of the Report requesting that the Board of Airport Commissioners determine that this action is exempt from the California Environmental Quality Act (CEQA) pursuant to Article III, Class 1 (18)(c) of the Los Angeles City CEQA Guidelines; approve the Lease with CalPortland Company and associated rental rates; and authorize the Chief Executive Officer, or designee, to execute said Lease after approval as to form by the City Attorney and approval by the Los Angeles City Council. (David Jones)\n01 report \n2.