The Port of Houston Authority will pay Princess Cruises and Norwegian Cruise Line a combined $6.7 million through 2016 to operate out of the long-empty Bayport Cruise Terminal, Executive DirectorLeonard Waterworth said Monday.

Under the contracts the authority expects to finalize this week, the cruise lines also will not be required to pay rent or any kind of docking fee to use the $108.4 million facility in Pasadena.

H/T Nigel West