Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee forwards SFO amendment to extend temporary rent relief for international duty‑free lease
Summary
The committee voted to forward a fourth amendment to the international terminal duty‑free and luxury store lease with DFS Group that extends a temporary reduced percentage rent structure, sets a temporary MAG of $30 million and a flat 36% percentage rent for specified lease years through 2026, with original terms to resume in 2027; the airport said this provides continued rent relief amid protracted international passenger recovery.
The Budget and Finance Committee on April 3 forwarded to the Board a resolution approving a fourth amendment to the concession lease between the San Francisco International Airport (SFO) and DFS Group LP for international terminal duty‑free and luxury stores.
SFO representatives said the amendment extends pandemic‑era rent accommodations, increasing the percentage rent to a flat 36%…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
