Huntington Beach releases details of lucrative settlement with Pacific Airshow operator

Details of a settlement agreement between Huntington Beach and the operators of the Pacific Airshow — over the forced cancellation of its event in 2021 — were released this week, revealing concessions that could result in the loss of millions of dollars in public funds. In lieu of the entire document, Gates last year offered an executive summary of the terms reached, which stipulated the city would pay the Pacific Airshow a total of $4.9 million over the next six years and grant operators an additional $344,145 in event fee waivers, along with $110,000 in waived parking fees for the use of 600 public parking spaces during the three-day event. The full settlement includes a list of terms that could potentially grant Code Four — the event management company that hosts the annual event — the right to hold the air show, along with a multiday musical festival, at any time of the year it wishes, and to use and monetize up to 3,500 public parking spaces in the city’s Pier Plaza, its beach and lots at Main Street and Sixth Street at no cost to the company. While he could not recall any of the proposed estimates put forth by the city’s financial team, who reportedly crunched numbers on what the terms would cost, were Code Four to engage the settlement agreement as is, Gates recalled it as not a significant amount. “There is no protection for the city in this contract.” In a joint statement with fellow council members Rhonda Bolton and Natalie Moser, Kalmick estimated the parking space allotments and fee waivers would amount to hundreds of thousands of additional taxpayer funds that could go to a for-profit business for possibly decades.