FACILITIESAMENDED

City of Long Beach Seventh Amendment to Preferential Assignment Agreement

Long Beach amends LBCT Middle Harbor terminal agreement

Guaranteed Minimum Annual Compensation per acre: $414,327 (2026-07-01–2027-06-30); $418,829 (2027-07-01–2028-06-30); $423,455 (2028-07-01–2029-06-30); $428,208 (2029-07-01–2030-06-30); $433,092 (2030-07-01–2031-06-30); one-time reduction of $291,938.88 for period 2024-07-01–2025-06-30Port of Long BeachLBCT LLCFebruary 26, 2026

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Description

The City of Long Beach and LBCT LLC executed a Seventh Amendment to their Preferential Assignment Agreement for the Middle Harbor Terminal, updating throughput breakpoints and guaranteed minimum annual compensation per acre for July 1, 2026 through June 30, 2031. The amendment also grants a one-time $291,938.88 reduction in compensation for the 2024–2025 period and replaces insurance requirements with a new Exhibit G-1.

Contract Details

Contract Amount

Vendor

LBCT LLC

Agency

Port of Long Beach, CA

Contract Type

FACILITIES

Document Date

February 26, 2026

Contract Term

July 1, 2026 – June 30, 2031 (fourth five-year period of Agreement); plus one-time compensation adjustment for July 1, 2024 – June 30, 2025

Renewal Date

2031-06-30

Renewal Info

Seventh Amendment establishes the financial terms and insurance requirements for the fourth five-year period of the Agreement (2026–2031) but does not change the overall term or explicitly exercise any renewal option. Existing extension or hold-over provisions of the original Agreement remain in force.