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CC - (1) Presentation of Capital Investment Amortization Study for the Culver City Portion of the Inglewood Oil Field; (2) Discussion of Options for Future of Culver City Portion of the Inglewood Oil Field; and (3) Direction to City Council Oil Drilling Subcommittee and City Staff as Deemed Appropriate.
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Meeting Date: August 13, 2020
Contact Person/Dept: Heather Baker, Assistant City Attorney;
Melanie Doran Traxler, Contract Project Manager
Phone Number: (310) 253-5660
(818) 248-7158
Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [X]
Public Hearing: [] Action Item: [X] Attachments: []
Commission Action Required: Yes [] No [X] Date:
Public Notification: (E-Mail) Meetings and Agendas - City Council (07/24/2020, 08/06/2020), Culver City News and Events (07/24/2020, 08/06/2020), Stay Informed - Inglewood Oil Field (07/24/2020, 08/06/2020); Stay Informed - Sustainability and Environmental Issues (07/24/2020, 08/06/2020), Sentinel Peak Resources (07/24/2020, 08/06/2020); and (Mail) Inglewood Oil Field Property Owners (08/04/2020).
Department Approval: Carol Schwab (08/05/2020)
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RECOMMENDATION
The City Council Oil Drilling Subcommittee, consisting of Vice-Mayor Alex Fisch and Council Member Meghan Sahli-Wells ("Subcommittee") and City staff recommend the City Council:
1. Receive and consider the information contained in the Capital Investment Amortization Study for the Culver City Portion of the Inglewood Oil Field ("Amortization Study") (Attachment 1);
2. Direct staff, as deemed appropriate, to study other factors relating to amortization and to develop and return to City Council with a framework that: (A) resolves the incompatibility of nonconforming oil-related uses, such as through an amortization program; and (B) identifies an appropriate period to phase out oil and gas activity;
3. Authorize the O...
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