City Council

(42) 22-0670 CATEGORICAL EXEMPTION and TRADE, TRAVEL AND TOURISM COMMITTEE REPORT relative to a proposed lease with Lufthansa Cargo Aktiengesellschaft 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 Lufthansa Cargo Aktiengesellschaft, and associated building rental rate, for premises located at 5721 West Imperial Highway at LAX. 3. CONCUR with BOAC Resolution No. 28429 authorizing the Los Angeles World Airports (LAWA) Chief Executive Officer, or designee, to execute the proposed lease with Lufthansa Cargo Aktiengesellschaft. Fiscal Impact Statement: The BOAC reports that there is no impact to the General Fund. The proposed lease will generate approximately $3,761,069 in revenue during the initial year and $7,856,138 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.