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Council pauses vote on LAWA purchase/leaseback of motel, restaurant and billboards near LAX to gather more details
Summary
The council continued action on Los Angeles World Airports' proposed purchase and leaseback of a Travelodge, a Denny's and five billboards near LAX to Feb. 8, requesting additional information on price, revenue and tax implications.
The Los Angeles City Council voted on Feb. 1 to continue consideration of a Los Angeles World Airports (LAWA) request to purchase and lease back property at 5535–5547 West Century Boulevard — including a Travelodge, a Denny's restaurant and five adjacent billboards — and set the item for further review on Feb. 8.
Laurel Cox, speaking for LAWA, told the council the owners voluntarily offered the property for sale and that the proposed transaction would include the billboard revenue being managed by the department until the next lease cycle. Cox described the parcel as about a mile east of LAX…
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