Municipal Facilities Committee report relative to authorizing the Department of General Services to negotiate and execute a parking lease amendment with 888 Vermont Avenue, LLC, for the Los Angeles Department of Transportation at 888 South Vermont Avenue.

The Municipal Facilities Committee recommends authorizing the Department of General Services (GSD) to negotiate and execute a parking lease amendment with 888 Vermont Avenue, LLC for the Los Angeles Department of Transportation (LADOT) at 888 South Vermont Avenue. The amendment will increase the allowance for additional parking spaces from 10-20 to up to 35 spaces, at a rate of $150 per space per month with a 3% annual escalation. This change is effective October 1, 2025, and will expire coterminous with the existing lease on January 31, 2032. The amendment also resolves an outstanding payment issue for previously utilized additional spaces, with a one-time payment of $65,000. Additionally, the amendment clarifies that LADOT is responsible for the electrical charges associated with 16 EV chargers, estimated at $1,700 per month. The total proposed increase for the current fiscal year (FY 2025-26) is $127,550, to be funded from the Citywide Leasing Account. GSD surveyed the market and determined this location remains the best option for LADOT due to limited availability in the area.