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Resolution#201322Passed
In plain English

This resolution approves a 12-year lease agreement between ALD Development Corporation and the City of San Francisco for airport-related operations, with an option to extend for two additional years. The lease guarantees a minimum annual payment of over $3.1 million for the first year.

Resolution approving Lease No. 20-0048, between ALD Development Corporation dba Airport Dimensions, as tenant, and the City and County of San Francisco, as landlord, acting by and through its Airport Commission, for a term of 12 years with two one-year options to extend, and a minimum annual guarantee of $3,100,915.50 for the first year of the Lease, to commence upon approval by the Board of Supervisors.

Introduced: Dec 8, 2020
Final action: Jul 30, 2021
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How it got here

Document trail
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BLA Report 051221
Budget and Legislative Analyst
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BLA Report 071421
Budget and Legislative Analyst
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How they voted

ADOPTED
Board of Supervisors ยท Jul 20, 2021Pass
4-0

Legislative journey

Clerk of the BoardNov 24, 2020
ยทRECEIVED FROM DEPARTMENT
PresidentDec 8, 2020
โ†’RECEIVED AND ASSIGNED
Budget and Finance CommitteeMay 12, 2021 โ€“ Jul 14, 2021
โ†ทCONTINUED TO CALL OF THE CHAIRPass
โœ“RECOMMENDEDPass
Board of SupervisorsJul 20, 2021
โœ“ADOPTEDPass
MayorJul 30, 2021
โœ“APPROVED