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Committee backs rent forgiveness for three city tenants, sends ordinance to full Board
Summary
The Budget and Finance Committee voted 3–0 to recommend an ordinance to the full Board authorizing forgivable rent for three city tenants affected by COVID-19: New Asia restaurant ($202,500), New Conservatory Theatre ($32,723.92) and Steven Paoli’s pop-up ($22,500). BLA reported total forgiveness requests at about $258,000.
The Budget and Finance Committee on April 7 voted to recommend to the full Board an ordinance allowing the city administrator to amend three city leases and forgive back rent owed during the COVID-19 period.
Director of Real Estate Andrico Penick presented the ordinance, which asks the City to forgive specified rent owed between April and December 2020 for three tenants: New Asia restaurant at 772 Pacific Avenue ($202,500), the New Conservatory Theatre at 25…
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