City Council

(5) 26-1122 ECONOMIC DEVELOPMENT AND JOBS COMMITTEE REPORT relative to authorizing the Community Investment Department (CID) to Agora Realty and Management, Inc. for property management services to City-owned property located at 10801 and 10823 San Fernando Road, and 13273 and 13277 Van Nuys Boulevard, Los Angeles, CA 91331. Recommendation for Council action, pursuant to Motion ( Rodriguez – Park): AUTHORIZE the CID to amend Contract No. C-205417 between the (Agora Realty) for property management services to City-owned property located at 10801 and 10823 San Fernando Road, and 13273 and 13277 Van Nuys Boulevard, Los Angeles, CA 91331 (Property) to: a. Extend the Term of Performance retroactively from April 30, 2026 through an additional one-year term from the date of Council approval of this amendment. b. Authorize Agora Realty to extend Property tenant leases on behalf of the City by six months due to situations that require emergency repairs and disrupt tenant occupancy including, but not limited to, damage caused by fire, water, or electricity. Fiscal Impact Statement: Neither the City Administrative Officer nor the Chief Legislative Analyst has completed a financial analysis of this report.