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2017-0416
| 11 | Resolution | CONSIDER:
A. AUTHORIZING the Chief Executive Officer to award the direct-pay letter of credit (“LOC”) to be provided by Citibank, N.A. (“Citi”) for a commitment amount of $150 million for a three-year term for the Proposition A Commercial Paper program at an estimated cost of $4.313 million and enter into a reimbursement agreement and related documents associated with such LOC.
B. If unable to reach agreement with the recommended bank described above, authorize the Chief Executive Officer to finalize negotiations with each successively ranked bank for an LOC having a three-year term and the estimated costs shown in Attachment A.
C. ADOPTING a resolution with respect to the Proposition A Commercial Paper program that approves the selection of Citi or such other banks selected by the Chief Executive Officer for the Proposition A commercial paper program, and the form of the reimbursement agreement, fee agreement and reimbursement note in substantially similar form with those on file with the Board Secretary and that makes certain benefits findings in compliance with the Govern | | |
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2017-0430
| 12 | Agreement | AUTHORIZE the Chief Executive Officer to execute a seven (7)-year lease agreement (“Lease Agreement”) with The City of Los Angeles Board of Airport Commissioners (“City”), having jurisdiction over Los Angeles World Airports (“LAWA”), allowing Metro to continue leasing 2.0177 acres of land and improvements located at Los Angeles International Airport (“LAX”) Terminal 27, 6111 W. 96th Street, Los Angeles at a rental amount of $7,770 per month for a total lease value of $714,448 over the (7)-year lease term including an estimated 3.29% CPI adjustment assessed annually. | | |
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2017-0412
| 13 | Informational Report | AUTHORIZE the Chief Executive Officer (CEO) to execute a five-year exclusive lease agreement and a five-year extension option with Bike and Park Santa Monica, LLC (Bike and Park) for the Kiosk S-4 space location at Union Station in the amount of $1,970.72 monthly base rent plus an annual increase of three percent, common area maintenance (CAM) fees, and a percentage rent of ten percent of gross sales above the base rent, for a total income in excess of $500,000 over the 10-year lease. Lease will start on the earlier of 60 days from completion of the Metro Bike Hub currently under construction or the day the Bike and Park actually commences conducting business. | | |
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2017-0444
| 14 | Informational Report | RECEIVE AND FILE the Consolidated Audit financial and compliance audit reports completed by Vasquez and Company (Vasquez) and Simpson and Simpson, CPA’s (Simpson & Simpson) for the Fiscal Year ending June 30, 2016. | | |
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