City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
1
201348
Name:
Lease Amendment - DFS Group, L.P. - The
International Terminal Duty Free and Luxury Lease -
Temporary Modified Percentage Rent Structure or
Reinstatement of Minimum Annual Guarantee -
$42,000,000
Status:
Type:
Resolution
Passed
File created:
In control:
12/15/2020
Clerk of the Board
On agenda:
Final action:
12/15/2020
2/12/2021
Enactment date:
2/12/2021
035-21
Enactment #:
Title:
Resolution approving Amendment No. 2 to the International Terminal Duty Free and Luxury Store
Lease No. 17-0303 between DFS Group, L.P. and the City and County of San Francisco, acting by
and through its Airport Commission, which continues the temporary modified percentage rent
structure to 33% of sales through the earlier to occur of December 31, 2023, or the reinstatement of
the minimum annual guarantee of $42,000,000 contingent upon completion of certain construction
projects by December 31, 2021, with no change to the 14-year term, to commence upon approval by
the Board of Supervisors.
Sponsors:
Attachments:
1. Leg Ver1, 2. DRAFT Amend No. 2, 3. Executed Lease Agmt 120517, 4. Amend No. 1 071320, 5. Air
Comm Reso No. 20-0222 and Memo, 6. AIR Ltr 120820, 7. Form 126, 8. BLA Report 012721, 9.
Comm Pkt 012721, 10. Board Pkt 020221, 11. Leg Final, 12. Form 126 Final, 13. Executed Amend
No. 2
Action By
Date
Action
Result
Ver.
RECEIVED FROM DEPARTMENT
Clerk of the Board
12/7/2020
1
RECEIVED AND ASSIGNED
President
12/15/2020
1
RECOMMENDED
Budget and Finance Committee
1/27/2021
1
Pass
ADOPTED
Board of Supervisors
2/2/2021
1
Pass
APPROVED
Mayor
2/12/2021
1