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Title:
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Resolution approving the Second Amendment to Port Commission Lease No. L-16274 with Golden Gate National Parks Conservancy to build and operate a public serving café and retail space within the bulkheads and portions of the sheds of Piers 31 and 33 for a 30-year term, with two options to extend the Lease for 10 additional years, effective upon approval of this Resolution and Port’s execution of this Amendment; and to (i) establish the amount of unpaid base rent Conservancy will pay to Port at $289,765.05; (ii) extend the Phase I Improvements completion date to December 31, 2025; (iii) increase the original construction rent credit from $554,000 to $800,000; (iv) provide a three year extension of the Lease term to June 30, 2052; and (v) establish a 50% share of any excess rents from food and beverage subtenants.
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