All systems are go for SpaceX’s BFR rocket facility at Port of Los Angeles after City Council OKs plan

Under the terms of the deal, SpaceX will have an initial 10-year lease with two additional 10-year extension options. The company’s initial rent will be $1.38 million a year, with annual adjustments based on the Consumer Price Index, but it can offset a total of $44.1 million in rent by making improvements to the Terminal Island site at Berth 240 in its first 20 years of tenancy.