by Douglas MessierManaging Editor
SpaceX is looking to build a research, development, manufacturing and recovery facility at a dilapidated terminal in the Port of Los Angeles.
The Los Angeles Board of Harbor Commissioners is set to meet on Thursday to consider approving a 10-year lease with two 10-year options for SpaceX to take over the former Southwest Marine site at Terminal Island in San Pedro.
“Recovery operations may also be conducted at the site….SpaceX would develop new port-based spacecraft production facilities. The development includes an adaptive reuse of dilapidated facilities with a history of vacancy and vandalism for nearly 15 years,” according to a summary of the proposed leased.
“Other benefits of the permit include siting a prominent aerospace technology company in the City of Los Angeles that has the potential to create 130 aerospace jobs,” the document stated.
SpaceX would pay $1,699,990 during the first year, with the cost adjusted annually according to the consumer price index (CPI). Assuming SpaceX renews the lease for years 11-30, total lease payments through year 20 would total $52,888,933.
SpaceX would make improvements in the property that would enable Elon Musk’s company to offset much of the lease cost. The Harbor Department ...