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Committee backs Airport lease amendment to relocate Green Beans Coffee to Harvey Milk Terminal 1
Summary
The Budget & Finance Committee recommended forwarding to the full Board an amendment allowing Green Beans Coffee to relocate to Harvey Milk Terminal 1, reimbursing roughly $357,225 in unamortized construction costs and restarting a 10-year lease term; the BLA recommended approval.
The Budget and Finance Committee on March 10 recommended that the full Board approve an amendment to the airport lease with Green Beans Coffee to relocate a concession to the Harvey Milk Terminal 1 check-in lobby.
Deanna Kizon of the San Francisco International Airport said Green Beans will cover construction costs for the new premises and that the airport will reimburse the original unamortized construction investment of about $357,225 and restart a 10-year lease term. The airport expects percentage rent based on pre-pandemic revenue rather than relying solely on the minimum rent schedule.
Sevin Campbell of the Budget Legislative Analyst's Office summarized the amended terms in the staff report and said the net minimum rent over the amended lease would be approximately $416,000; the BLA recommended approval. No public speakers signed up on the item. The committee voted to forward the amendment to the full Board with a positive recommendation.
