City Council

(41) 26-1252 CATEGORICAL EXEMPTION and TRADE, TRAVEL AND TOURISM COMMITTEE REPORT relative to a proposed lease with Atlas Air, Inc. for cargo facilities at Los Angeles International Airport (LAX). Recommendations for Council action: 1. CONCUR with the determination by the Board of Airport Commissioners (BOAC) that the proposed 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. 2. APPROVE the one-year lease, with a one-year extension option, with Atlas Air, Inc., and associated building rental rate, for premises located at 5761 West Imperial Highway at LAX. 3. CONCUR with BOAC Resolution No. 28425 authorizing the Los Angeles World Airports (LAWA) Chief Executive Officer, or designee, to execute the proposed lease with Atlas Air, Inc. Fiscal Impact Statement: The BOAC reports that there is no impact to the General Fund. The proposed lease will generate approximately $2,630,064 in revenue during the initial year and $5,495,325 over the potential two-year term, excluding rental rate adjustments. Neither the City Administrative Officer nor the Chief Legislative Analyst has completed a financial analysis of this report.