In 1970 Lockheed Martin leased a 61,000 square-foot property called the Tow Basin Site, located at 3380 North Harbor Drive, to test the designs of boats, submarines and other submersibles, and seaplanes. In addition, the Bethesda, Maryland-based company leased a commercial pier and railway terminal at 1160 Harbor Drive for other maintenance and industrial uses.
After decades of use, California’s Environmental Protection Agency discovered contaminated sediment along the bay floor. It ordered the company to begin remediation.
The agreement calls for Lockheed to pay $3.3 million to remediate the sediment at both sites. In addition Lockheed will prepare the lots according to the proposed demolition plans. Lastly, the aerospace company will pay $2.5 million for future development at the two locations. General Dynamics will reimburse Lockheed Martin $850,000 for any contamination it caused while it controlled the site. To help ease the sting, the Port of San Diego will waive 36 months of rent, amounting to a $200,000 savings for the company.
