The City Council authorized an amendment to a parking license agreement with 350 South Figueroa, LLC for temporary employee parking at the World Trade Center lot at 350 South Figueroa Street. This decision extends the term for an additional 12 months, effective May 15, 2025, and allows the City to increase the number of parking spaces to a maximum of 430. The agreement aims to provide supplemental off-site parking for City Departments occupying Industrious co-working office space and serves as a contingency plan to potentially replace a previous parking agreement. The transition of approximately 80 parking spaces from a more expensive leased site at 444 South Flower Street is expected to result in an overall savings of $4,880 in the FY 2025-26 Citywide Leasing Account. The monthly rate for the parking spaces is fixed at $185 per pass, including City Parking Occupancy Tax. The amendment also includes provisions for city and owner termination rights, including a limited owner termination right if seismic retrofit work materially affects parking availability. The Council voted to adopt the Government Operations Committee Report forthwith on June 28, 2024, approving the recommendations.