This resolution approves an amendment to the advertising lease at the airport, allowing Clear Channel Outdoor to promote large sporting events and establishing a new rent structure for those advertising spaces. It has been passed by the city.
Resolution approving Amendment No. 3 to the Airport Advertising Lease No. 12-0231 between Clear Channel Outdoor, LLC d/b/a Clear Channel Airports, as tenant, and the City and County of San Francisco, acting by and through its Airport Commission, as landlord, for the addition of premises solely for the promotion of large sporting events and establishing a new rent structure for those locations.
How it got here
This legislation originated from the need to amend the Airport Advertising Lease to include new advertising locations for large sporting events, prompted by previous lease agreements and COVID-19 relief measures.
The Airport Commission awarded the Airport Advertising Lease No. 12-0231 to Clear Channel Outdoor, LLC for a term of eight years.
The Commission authorized a program to waive Minimum Annual Guarantee payments for concession operators due to the pandemic, which was later memorialized in Amendment No. 1 to the Lease.
The Airport continued the Lease on a month-to-month basis after its expiration on December 31, 2022, through April 30, 2024.
The Commission adopted a program allowing lease extensions for certain concession tenants, including Clear Channel, extending the lease term to October 31, 2027.
The Commission approved Amendment No. 3 to the Lease, adding premises for advertising large sporting events and establishing a new rent structure.
The Board of Supervisors adopted the resolution approving Amendment No. 3 to the Airport Advertising Lease.
The Clerk of the Board received the final amendment for inclusion into the official file.
Reconstructed from attached documents & the official record
