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Finance & Budget Committee Agenda*

Location & Date

Metro Board Room, One Gateway Plaza, 3rd Floor, Los Angeles
Wednesday, November 17, 2010 2:30 p.m.

Agenda

Call to Order

Directors

Michael Antonovich, Chair
Ara Najarian, Vice Chair
Diane DuBois
Gloria Molina
Pam O’Connor
Vacant, non-voting member

Officers

Arthur T. Leahy, Chief Executive Officer
Michele Jackson, Board Secretary
Karen Gorman, Ethics Officer
Karen Gorman, Acting Inspector General County Counsel, General Counsel

  1. RECEIVE report from the Chief Financial Services Officer.
  2. CONSIDER:
    1. authorizing the leasing of office space to provide an Integrated Project Management Office to support the Crenshaw LAX Transit Corridor Project;
    2. authorizing the Chief Executive Officer to execute an eight year lease agreement, including up to two (2) one year options, with Marvin Gart Trust for the rental of office space and associated parking in an office building located at 3695-3699 Crenshaw Blvd, Los Angeles, CA commencing January 1, 2011 at an estimated initial annual rental cost of $255,107.00 or $21,258.92 per month plus the annual cost of utilities and operating expenses; and
    3. amending the FY11 budget to add $550,000 of Measure R Transit Capital Funds 35% to Project 865512 Crenshaw/LAX Transit Corridor to cover the base rent for the balance of FY11 and estimated cost of tenant improvements.

    (ALSO ON CONSTRUCTION COMMITTEE AND MEASURE R PROJECT DELIVERY COMMITTEE)

  3. REVISE the Congestion Reduction Demonstration (CRD) Project Funding Plan as shown on Attachment A of the Board report and INCREASE the funding by $41.2 million to $331.8 million; and ADJUST the Life of Project for the CRD Projects affected by Action A, as shown on Attachment B of the Board report.

    (ALSO ON AD HOC CONGESTON PRICING COMMITTEE)

  4. AUTHORIZE the Chief Executive Officer to:
    1. establish a life-of-project budget for the Artesia Transit Center Improvements Project in the amount of $1,240,000;
    2. approve the transfer of $990,000 in funding from Capital Project #202096 Norwalk 605 Station Expansion Project to the Artesia Transit Center Improvements Project; and
    3. amend the FY11 budget to add in $80,000 of revenues and expenditures to be funded with Federal 5307 Bus Operations Subcommittee Transit Enhancements funds to begin implementation of the project in FY11.

      (ALSO ON PLANNING AND PROGRAMMING COMMITTEE)

  5. RECEIVE AND FILE the financial performance review of FY10 fiscal year budget.
  6. RECEIVE report of the Chief Executive Officer.

Consideration of items not on the posted agenda, including: items to be presented and (if requested) referred to staff; items to be placed on the agenda for action at a future meeting of the Committee or Board; and/or items requiring immediate action because of an emergency situation or where the need to take immediate action came to the attention of the Committee subsequent to the posting of the agenda.

COMMENTS FROM THE PUBLIC ON ITEMS OF PUBLIC INTEREST WITHIN COMMITTEE’S SUBJECT MATTER JURISDICTION

ADJOURNMENT

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