Olympus Terminals LLC - Seventh Amendment to Lease HD-7830
Summary
SCH Number
2024110328
Public Agency
Port of Long Beach
Document Title
Olympus Terminals LLC - Seventh Amendment to Lease HD-7830
Document Type
NOE - Notice of Exemption
Received
Posted
11/12/2024
Document Description
The Board of Harbor Commissioners approved a Seventh Amendment to an existing lease (HD-7830) with Olympus Terminals
LLC at Pier F. There are no proposed changes to the existing use of fuel and diesel oil-bunkering services and operations. The original lease provided for a term of fifteen years, commencing July 1, 2010 and terminating June 30, 2025. The proposed
Seventh Amendment to lease will provide the following:
• 5-year extension of the existing term expiring June 30, 2030.
• Revise Guaranteed Minimum Annual Compensation.
• Revise Letter of Credit amount as security for payment obligations.
• Include modernized boilerplate lease language as necessary, including but not limited to rent renegotiation, oil operations requirements, premises restoration at expiration, and holdover requirements.
• Environmental Covenants will be reviewed and if necessary, revised by the Port's Environmental Planning Division upon
completion of its CEQA review and determination.
Contact Information
Name
Jennifer Sallee
Agency Name
Port of Long Beach
Job Title
Asst. Admin Analyst
Contact Types
Lead/Public Agency
Phone
Email
Location
Cities
Long Beach
Counties
Los Angeles
Regions
Citywide
Other Location Info
Pier F (Approximately 202,456 square feet of land and 128,299 square feet of water area)
Notice of Exemption
Exempt Status
Categorical Exemption
Type, Section or Code
Section 15301 Existing Facilities
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 project consists of a seventh amendment to existing Lease HD-7830 to increase the term of the lease and compensation. No physical modifications or change in existing use are proposed. Therefore, the project involves no expansion of the existing or former use.
County Clerk
Los Angeles
Attachments
Notice of Exemption
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