Collateral Access Agreement – International Transportation Service, LLC and First National Capital, LLC
Summary
SCH Number
2024090905
Public Agency
Port of Long Beach
Document Title
Collateral Access Agreement – International Transportation Service, LLC and First National Capital, LLC
Document Type
NOE - Notice of Exemption
Received
Posted
9/24/2024
Document Description
The Board of Harbor Commissioners approved a Collateral Access Agreement (CAA) with International Transportation Service, LLC (ITS) and First National Capital, LLC (Lender), which would permit the Lender or its agents, in the event of ITS’ default of its financing agreements and notification to the Port, to enter the premises leased to ITS by the Port under Preferential Assignment Agreement (PAA) HD-7048, to inspect, repossess or remove certain existing ITS-owned equipment (Collateral) in accordance with the terms and conditions of the financing agreements between ITS and Lender without objection, delay, hindrance or interference by the Port and in such case the Port will make no claim or demand whatsoever against the Collateral. The Lender’s Agents may remain on the premises until the close of the fifth (5th) business day following the date the PAA is terminated. Lender shall repair any damage to the PAA premises caused by Lender’s or Lender’s Agent’s removal of the Collateral. The CAA is a standalone document and is co-terminus with the PAA. The existing PAA expires August 31, 2026.
Contact Information
Name
Jennifer Blanchard
Agency Name
Port of Long Beach
Job Title
Environmental Specialist
Contact Types
Lead/Public Agency
Phone
Email
Location
Cities
Long Beach
Counties
Los Angeles
Regions
Citywide, Southern California
Zip
90802
Other Location Info
1281 Pier G Way; Long Beach Harbor District 8 – Southeast Harbor
Notice of Exemption
Exempt Status
Categorical Exemption
Type, Section or Code
Section 15301 (Class 1)
Reasons for Exemption
Section 15301 Existing Facilities (Class 1): The Class 1 Categorical Exemption consists of the operation, repair, maintenance, permitting, leasing, or minor alteration of existing public or private structures, facilities, mechanical equipment, or topographical features, involving negligible or no expansion of existing or former use. The CAA between the Port, ITS, and First National Capital would permit First National Capital (or its agents) to enter the premises, in the event of default of the Financial Agreements and notification to the Port, to inspect, repossess, or remove certain existing ITS-owned equipment (Collateral) in accordance with the terms and conditions of the Financing Agreements between ITS and Lender without interference by the Port.
The Port has determined that none of the exceptions to the exemptions in the California Environmental Quality Act (CEQA) Guidelines Section 15300.2 foreclose the use of the categorical exemption CEQA Guidelines Section 15301 (Existing Facilities); therefore, the Project is exempt from CEQA and no further environmental review is required.
County Clerk
Los Angeles
Attachments
Notice of Exemption
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