The Los Angeles World Airport Board of Airport Commissioners approved a contract with a developer Thursday to design, build, finance, operate and maintain the Consolidated Rent-A-Car Facility at LAX.

The almost $2.03 billion, 28-year contract between L.A. Gateway Partners and LAWA for the ConRAC is part of the $5.5 billion Landside Access Modernization Program aims to bring together more than 20 car rental offices into a central location.

It would feature a 2.25-mile Automated People Mover to eliminate the need for rental car courtesy vehicles to enter the central terminal area and reduce the number of autos driving in and out of the airport by an estimated 3,200 a day.

LAGP’s proposal had the lowest price score and second-highest technical score of the four teams that participated in the procurement process, the BOAC said.

“This marks more progress towards our vision of the future of LAX,” said Deborah Flint, CEO of LAWA. “We are now in a position to deliver a world-class transportation experience worthy of an international gateway city.”

The ConRAC will consolidate rental car locations in and around the airport into one facility located adjacent to the 405 Freeway. The approximately 5.3-million-square-foot facility will be built in an area bordered by Aviation Boulevard on the west, Arbor Vitae Street to the north, La Cienega Boulevard on the east and the new 98th Street extension to the south. It is scheduled to be completed by 2023.

The contract will still needs to be considered by the Los Angeles City Council.

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