Port of LA

7. RESOLUTION NO. ____________ - APPROVAL OF NOTICE OF MUTUAL\nAGREEMENT FOR ALAMEDA CORRIDOR CY2024 OPERATIONS AND\nMAINTENANCE BUDGET\nSummary: Staff requests adoption of a Resolution approving and providing mutual agreement,\nvia a Notice of Mutual Agreement (NMA) #2023-1, for the Calendar Year (CY) 2024 Alameda\nCorridor (AC) Operations and Maintenance (O&M) budget in the total amount of $33,962,740.\nFunding for the O&M budget is provided by the BNSF Railway (BNSF), the Union Pacific\nRailroad (UPRR), and the Alameda Corridor Transportation Authority (ACTA) Reserve Account.\nThere will be no financial impact to the Harbor Department if this NMA is approved.\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 and provide Mutual Agreement for the CY2024 O&M budget in\nthe total amount of $33,962,740; (3) authorize the Executive Director or designee with delegated\nauthority to approve subsequent Mutual Agreements for the allocation and use of contingency\nfunds within the total budget, and for the transfer of funds to/from Maintenance of Way (MOW)\nbudget items as needed; (4) direct the Executive Director to transmit this Resolution to ACTA\nfor further action pursuant to the Amended and Restated Alameda Corridor Use and Operating\nAgreement; and (5) adopt Resolution No.____________.