SEC. 4.
(a) (1) The use restrictions imposed by the granting statutes and the public trust doctrine are lifted until February 1, 2066, with respect to the after-acquired lands in Jack London Square, and the port may lease the after-acquired lands for any purpose, subject to the conditions listed in subdivision (b).
(2) Except as provided in paragraph (1), the after-acquired lands shall remain subject to the terms and conditions of the granting statutes and the public trust doctrine.
(b) (1) The port may lease after-acquired lands in Jack London Square for a nontrust use only if it finds that all of the following conditions will be met:
(A) Port revenues derived from a nontrust use shall be used exclusively for trust-consistent purposes, including, but not limited to, seating, plazas, and wayfinding, and to support equitable public access and visitor-serving programming for a wide range of visitors.
(B) Nontrust uses will not impair or harm existing public access or public trust uses and are intended to attract the statewide public to Jack London Square and the waterfront to promote increased use and enjoyment of the area.
(C) The nontrust use lease is for fair market value.
(D) The nontrust use lease is consistent with the terms of the granting statutes and public trust doctrine, except for use restrictions pursuant to subdivision (a).
(E) The nontrust use leases for each parcel are designed to result in a dynamic, well-balanced tenant mix that promotes, fosters, and enhances public trust uses in Jack London Square.
(F) The term of those nontrust leases shall not extend beyond February 1, 2066.
(2) The port shall make the findings pursuant to paragraph (1) for each proposed nontrust lease at a public meeting, and the port shall not delegate authority to make these findings to any other entity, including a ground lessee. Any nontrust lease or lease amendment entered into without the port making the findings required by this paragraph shall be void.
(c) On February 2, 2066, the use restrictions of the granting statutes and public trust doctrine shall resume for all after-acquired lands, and, as of that date the provisions of this section shall become inoperative.
(d) On or before January 15, 2027, and every year thereafter until February 2, 2066, the port shall provide the commission with a detailed narrative statement including all of the following information:
(1) A list of tenants in Jack London Square, categorized as either consistent or inconsistent with the public trust use restrictions including details regarding the square footage for each tenant’s lease area, lease term, and the overall square footage for each tenant-occupied structure.
(2) A map showing the distribution and location of nontrust use leases.
(3) The overall economic health and performance of Jack London Square.
(4) Projections of the future economic performance of Jack London Square based on the then-current tenant mix.
(5) A description of public access improvements at Jack London Square and how these improvements promote equitable public access to and use and enjoyment of the waterfront.
(6) The use of revenue derived from nontrust use leases.
(e) The terms of the Stipulated Judgment are held in abeyance for after-acquired lands subject to this act until February 1, 2066. On February 2, 2066, the Stipulated Judgment shall apply in full force and effect. The Stipulated Judgment is otherwise unaffected by this act.
(f) (1) Privately funded tenant improvements on land leased pursuant to this act shall be subject to the requirements of Article 2 (commencing with Section 1770) of Chapter 1 of Part 7 of Division 2 of the Labor Code if either of the following requirements is satisfied:
(A) The project involves construction work with costs in excess of fifty thousand dollars ($50,000).
(B) The project involves alteration, demolition, repair, or maintenance work with costs in excess of thirty thousand dollars ($30,000).
(2) Commencing on January 1, 2027, and annually thereafter, the thresholds in this subdivision shall be adjusted to reflect changes in the United States Bureau of Labor Statistics Consumer Price Index for All Urban Consumers.
(3) The port shall provide written notice of these requirements to all lessees, sublessees, and prospective lessees.
(g) It is the intent of the Legislature that this act is designed to address the unique and limited circumstances of Jack London Square and that this act sets no precedent for any other granted lands or other public trust lands in the state.