Port of LA

2. RESOLUTION NO. ____________ - ORDER RESETTING COMPENSATION UNDER\nPERMIT NO. 930 WITH THE JANKOVICH COMPANY, LLC\nSummary: Staff requests approval of the proposed Order resetting compensation under Permit\nNo. 930 (P930) with The Jankovich Company, LLC (Jankovich), a Washington limited liability\ncompany, for the five-year period of November 6, 2022 to November 5, 2027. P930 has a 20-\nyear term that commenced on November 6, 2017, with two consecutive five-year options to\nextend the term. Compensation is to be reset every five years, with an annual Consumer Price\nIndex (CPI) adjustment. P930 grants Jankovich the use of 2.72 acres of land, subsurface, and\nsubmerged land, along with 10,966 square feet of office space in San Pedro for the operation of\na marine fueling terminal at Berth 73A and Berth 73B. Jankovich has agreed to new\ncompensation effective November 6, 2022. Effective November 6, 2022, approval of the\nproposed compensation reset will increase annual rent by $141,359 or 45 percent from $315,219\npreviously to $456,578 ($38,048 per month) as proposed. Thereafter, rent will be increased\nannually by the change in the CPI, subject to a floor of 0 percent.\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. 930 with The\nJankovich Company, LLC; (3) authorize the Board Secretary to attest to the Order resetting\ncompensation under Permit No. 930; and (4) adopt Resolution No.____________ and Order\nNo.____________.\nSPECIAL MEETING AGENDA\nMedia Relations & Strategic Communications