4. Recommended by Water System Approval of Lease No. 1506 with BJ Sierra West, LLC. The Lease will generate an initial monthly rental income of $5,360, and an estimated income of $321,600, during the five year Lease term. There is no expense to LADWP other than the administrative cost of processing the Lease. The Lease will expire five years after it has been fully executed. Determine item is exempt pursuant to CEQA Guidelines Section 15060(c)(3).