City Council

(43) 26-1250 CATEGORICAL EXEMPTION and TRADE, TRAVEL AND TOURISM COMMITTEE REPORT relative to a proposed lease with Societe Air France 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 Societe Air France, and associated building rental rate, for premises located at 5621 West Imperial Highway at LAX. 3. CONCUR with BOAC Resolution No. 28432 authorizing the Los Angeles World Airports (LAWA) Chief Executive Officer, or designee, to execute the proposed lease with Societe Air France. Fiscal Impact Statement: The BOAC reports that there is no impact to the General Fund. The proposed lease will generate approximately $3,095,338 in revenue during the initial year and $6,435,156 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.