Carson, California--(Newsfile Corp. - August 19, 2026) - The City of Carson has reached a landmark $370 million settlement with Tesoro/Marathon Petroleum, securing significant immediate and long-term funding for the community while strengthening the City's financial position without imposing a new tax on Carson residents.
To view the full announcement, including downloadable images, bios, and more, click here.
Key Takeaways:
- Carson secured a $370 million settlement with Tesoro/Marathon. The City will receive $120 million upfront and $250 million over 15 years, providing both immediate funding and a predictable long-term revenue stream of approximately $16.67 million annually beginning in January 2027.
- The agreement strengthens Carson's finances without a new tax on residents. Following the settlement, Carson withdrew its proposed oil refinery tax measure from the November 2026 ballot. Tesoro/Marathon will also continue paying the City's existing Measure C Oil Industry Business License Tax, with no credit against the settlement payments.
- The settlement ends years of litigation and creates opportunities to invest in community priorities. Tesoro/Marathon will seek dismissal of the tax litigation and will not pursue attorney fees or litigation costs from the City. Settlement proceeds will go through Carson's public budgeting process, with infrastructure and deferred maintenance already identified as potential priorities.
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Vision - Carson: A thriving, diverse, destination city - a great place to live, work and play with an unlimited future.
Mission - To serve and enhance the quality of life of residents and businesses through engagement and the efficient delivery of exceptional services.
Contacts:
Liselle DeGrave
9517640865
Liselle@degravepr.com
Source: City of Carson
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310425
Source: City of Carson
