TITLE
Recommendation to consent to a request by the Grand Prix Association of Long Beach, LLC, to leave concrete blocks from the 2021 Long Beach Grand Prix in place along Seaside Way, Shoreline Drive (east of Pine Avenue), and within the Elephant Lot, for a period of seven months, through the conclusion of the 2022 race and corresponding takedown period, or May 1, 2022;
Authorize City Manager, or designee, to execute all documents necessary to amend and/or apply for California Coastal Commission approval of the same; and
Authorize City Manager, or designee, to execute all documents necessary for a First Amendment to Amended and Restated Operating Agreement No. 34876 with Grand Prix Association of Long Beach, LLC, to amend provisions of the agreement as necessary to facilitate the Association's request. (District 2)
DISCUSSION
The Long Beach Grand Prix (Grand Prix) is the longest-running major street race in North America. On April 15, 1975, the City of Long Beach (City) and Grand Prix Association of Long Beach, LLC (Association), entered into an agreement to host the event in Downtown Long Beach. The Grand Prix, an IndyCar Series race, encompasses three-and-half days of races and ancillary events and has a tremendous impact on local and regional economies and local hospitality and tourism industries. The Grand Prix is a large-scale regional event drawing more than 200,000 visitors to Long Beach annually. The event provides significant national exposure for Long Beach and generates significant economic benefit to the City.
The current iteration of the agreement is Amended and Restated Operating Agreement No. 34876 (Agreement), which the City Council approved on December 5, 2017. The current term of the Agreement expires on June 30, 2023, and contains a City option for one additional five-year extension. To that end, staff from the Economic Development Department have entered negotiations to extend the Agreement. While terms and conditions of the longer ext...
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