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Resolution#241106Passed

In plain English

This resolution allows the San Francisco Airport to reduce the minimum rent that certain specialty retail tenants must pay under their leases and changes how future rent adjustments will be calculated. It is a one-time adjustment aimed at supporting these businesses.

Resolution approving the Specialty Retail Minimum Annual Guarantee Rent Reduction Program for certain specialty retail concession tenants, allowing the Airport to do a one-time adjustment of the Minimum Annual Guarantees due under the leases, and changing the method for future adjustments of the Minimum Annual Guarantees.

Introduced: Nov 19, 2024

Final action: Feb 28, 2025

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How it got here

Document trail

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DRAFT Amend No. 3 - L15-0039 WDFG (Jo Malone Tom Ford Aveda)

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DRAFT Amend No. 3 - L17-0209 DFS Group

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DRAFT Amend No. 4 - L17-0210 Canonica (Chocolate Market ITG)

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DRAFT Amend No. 3 - L18-0071 Brookstone SFO T-2 LLC

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DRAFT Amend No. 4 - L18-0073 Canonica (Chocolate Market T2)

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DRAFT Amend No. 4 - L18-0203 InMotion SFO, LLC (iStore)

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DRAFT Amend No. 2 - L18-0205 L'Occitane

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DRAFT Amend No. 3 - L18-0207 RAKH, Inc (NYS Collection Eyewear)

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DRAFT Amend No. 3 - L18-0231 InMotion SFO-IT, LLC (InMotion-ITA)

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DRAFT Amend No. 3 - L18-0232 InMotion SFO-T3, LLC (InMotion-ITG)

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DRAFT Amend No. 3 - L18-0233 Air Sun (Sunglass Hut T3)

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DRAFT Amend No. 2 - L18-0284 Canonica (Chocolate Market T3 Candy Kiosk)

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DRAFT Amend No. 3 - L18-0345 Air Sun (Sunglass Hut T2)

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DRAFT Amend No. 3 - L18-0395 Emporio Rulli (G.R. Chocolate)

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DRAFT Amend No. 2 - L19-0053 Apparel Sourcing (We Are SF)

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DRAFT Amend No. 2 - L20-0046 Genesco (Johnston & Murphy)

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DRAFT Amend No. 1 - L23-0250 Chalo

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AIR Comm. Reso No. 24-0222 101524

Resolution

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L15-0039 - Executed Original - Amends 1-2

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L17-0209 - Executed Original - Amends 1-2

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L17-0210 - Executed Original - Amends 1-3

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L18-0071 - Executed Original - Amends 1-2

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L18-0073 - Executed Original - Amends 1-3

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L18-0203 - Executed Original - Amends 1-3

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L18-0205 - Executed Original - Amend 1

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L18-0207 - Executed Original - Amends 1-2

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L18-0231 - Executed Original - Amends 1-2

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L18-0232 - Executed Original - Amends 1-2

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L18-0233 - Executed Original - Amends 1-2

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L18-0284 - Executed Original - Amend 1

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L18-0345 - Executed Original - Amends 1-2

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L18-0395 - Executed Original - Amends 1-2

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L19-0053 - Executed Original - Amend 1

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L20-0046 - Executed Original - Amend 1

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L23-0250 - Executed Original

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Budget and Legislative Analyst

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Cmte Pkt 021225

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Board Pkt 022525

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Forms 126 Final (15)

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L23-0250 - Executed Amend 1 031025

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L15-0039 - Executed Amend 3 031425

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L17-0209 - Executed Amend 3 031025

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L17-0210 - Executed Amend 4 031025

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L18-0071 - Executed Amend 3 031025

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L18-0073 - Executed Amend 4 031025

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L18-0203 - Executed Amend 4 031325

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L18-0205 - Executed Amend 2 031325

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L18-0207 - Executed Amend 3 031025

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L18-0231 - Executed Amend 3 031025

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L18-0232 - Executed Amen 3 031025

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L18-0233 - Executed Amend 3 031425

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L18-0284 - Executed Amend 2 031425

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L18-0345 - Executed Amend 3 031025

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L18-0395 - Executed Amend 3 031325

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L19-0053 - Executed Amend 2 031325

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L20-0045 - Lease Termination Agmt 031325

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L20-0046 - Executed Amend 2 031425

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How they voted

ADOPTED

Board of Supervisors · Feb 25, 2025Pass

10-0

Stephen Sherrill

Rafael Mandelman

RECOMMENDED

Budget and Finance Committee · Feb 12, 2025Pass

2-0

Legislative journey

Clerk of the BoardNov 7, 2024

·RECEIVED FROM DEPARTMENT

PresidentNov 19, 2024

→RECEIVED AND ASSIGNED

Budget and Finance CommitteeFeb 12, 2025

✓RECOMMENDEDPass

Board of SupervisorsFeb 25, 2025

✓ADOPTEDPass

MayorFeb 28, 2025

✓APPROVED

Clerk of the BoardMar 29, 2025

·RECEIVED FROM DEPARTMENT