Port And City Partnership Could Provide $12M For Queen Mary Upgrades

LONG BEACH, CA — The Prot of Long Beach and the city announced an anticipated partnership that would provide support and investment for the Historic RMS Queen Mary to promote tourism and hospitality and transportation and logistics.

Beginning in early May, the Long Beach City Council will consider the partnership that officials said has the potential to bring in a considerable amount of money for both entities, the city and Long Beach residents. As part of the agreement, the port will advance $12 million to the city for the ship's restoration and reopening efforts.

“This proposed agreement will support our Grow Long Beach Initiative by identifying new strategies to bolster our local economy in two key emerging industry sectors, tourism and goods movement,” said Mayor Rex Richardson. “I look forward to the many benefits this partnership will bring, and I appreciate the Port of Long Beach’s leadership for engaging with us in this opportunity and the Harbor Commission for their support.”

The agreement between the two entities will also shrink oil operations in about 14 acres of underutilized properties identified by the Long Beach Department of Energy Resources in the port. The properties will be used for non-oil purposes and will be leased by port customers. the revenue from these leases would be split equally between the city and the port.

The funds will be applied to many uses including addressing infrastructure needs at the Queen Mary to support future restoration and development of the surrounding 43 acres. Any new revenue will be used to pay back the port's advance, and once fully paid it will accrue to the Tideland's Operating Fund.

“It's very rare to be able to expand the leasable land we manage in the harbor,” said Port of Long Beach Executive Director Mario Cordero. “To do so is an opportunity we welcome as we continue to build a more efficient, sustainable port.”

Second District Councilmember Cindy Allen proposed the agreement to the City Council on April 6, 2021 and it was unanimously approved by the council then. At the April 19, 2023 Harbor Commission meeting, the port and the city completed a Memorandum of Understanding to officially form the new partnership.