AltaSea rearranges agreements with Port of Los Angeles

LOS ANGELES—The Port of Los Angeles adopted two changes to its contractual arrangements with AltaSea during the Board of Harbor Commissioners’ Oct. 1 meeting in Los Angeles. Board members specifically adopted a second amendment to the port district’s lease agreement with AltaSea, allowing the nonprofit to meet its tenant obligations. The board also canceled an agreement the port district had with AltaSea. The cancelation will allow the nonprofit to seek new federal grants as a result of the Covid-19 pandemic. AltaSea entered into an agreement with the port district in 2013, allowing the nonprofit organization to build, operate and maintain an urban marine research facility at City Dock No. 1. Both parties entered into a 50-year lease agreement, according to a port district staff report prepared for Harbor Commission members. Each action was adopted as separate action agenda items. Lease Amendment Board members first approved a second amendment to the AltaSea lease, during its Oct. 1 meeting. The 50-year lease agreement was originally enacted on Dec. 23, 2013, and called the nonprofit to construct, operate and maintain an urban marine research facility on as many as 11 parcels at the port district (totaling 32.73 acres in size). The lease was amended for the first time in...