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Title:
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Resolution approving Port Commission Lease L-17180 with Everett & Jones BBQ SF International, LLC, a California limited liability company, for approximately 4,363 square feet of a two-story restaurant space located at 300 Jefferson Street for a term of 10 years with two five-year options to renew, with a free rent period of lesser of 180 days or date site opens to the public, rent for the first year is 5% of gross revenues, no less than $10,000 per month, rent for the second year is $13,000 per month, rent for the third year is $15,400 per month, with 3% increases thereafter, percentage rent is equal to 5% of gross revenue in first year and 6% thereafter, to commence after the restaurant opens; and to authorize the Port Executive Director to enter into amendments or modifications to the Lease that do not materially increase the obligations or liabilities to the City and are necessary to effectuate the purposes of the Lease or this Resolution.
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