Amendment No. 1, The Colburn School – 120 South Olive Street, Los Angeles

On June 9, 2026, the Los Angeles County Board of Supervisors authorized the CEO to execute Amendment No. 1 to the existing lease agreement with the Colburn School at 120 South Olive Street in Los Angeles, extending the term of the lease through newly added optional extension periods. The County will continue to receive monthly rent equivalent to the current revenue generated from public use of the property, ensuring no loss in income during the extended term. At the conclusion of the lease, including any exercised options, the County is entitled to receive the leased lot either in improved condition or a lump sum payment sufficient to cover the cost of repaving the area, effectively safeguarding the long-term value of the asset. The amendment formalizes a mechanism for the Colburn School to continue its operations while ensuring the County’s financial and physical interests are protected through clearly defined exit terms. The agreement was published on June 12, 2026, with primary point of contact Joyce Chang, Senior Manager, available for inquiries regarding execution and compliance.