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Council authorizes 66‑year lease amendment with Long Beach Yacht Club after extended debate over public benefits and worker protections
Summary
The council approved a fourth amendment to the Long Beach Yacht Club lease, resetting the term to 66 years (effective 1/1/2026) and requiring a minimum $10 million private capital investment and a $200,000 annual base rent (up to 90% eligible for rent offsets tied to agreed community benefits); members and public speakers debated term length, accountability and whether offsets should support wages and benefits for club staff.
After extensive public comment and council questioning, Long Beach City Council on Jan. 6 approved a negotiated fourth amendment to the lease with the Long Beach Yacht Club that extends the term to 66 years (effective Jan. 1, 2026, through Dec. 31, 2091), requires a minimum private capital investment of $10 million, and sets base rent at $200,000 annually with 10% payable in cash and the remaining 90% eligible for rent offsets tied to defined community benefits.
How it works: Staff said the lease term length reflects financing realities — lenders commonly require a long lease term to secure loans for major capital projects — and that the capital investment will revert…
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