Committee forwards six Terminal 1 concession leases — staff touts local and ACDBE participation

The Budget and Finance Committee voted to send six Terminal 1 food and beverage concession leases (items 9–14) to the full Board with a positive recommendation. The leases are 10‑year initial terms with 2‑year extension options.

Airport staff listed the operators and first‑year minimum annual guarantees: Banh Mi LLC (Banh Mi), SSP America (Little Chihuahua), Amy's Kitchen (Amy’s Drive‑Thru) and others; quoted minimum guarantees were $365,000 (items 9 and 10), $475,000 (item 11), $600,000 (item 12), $310,000 (item 13) and $385,000 (item 14). Staff estimated total minimum annual guarantees across the six leases at about $2.5 million in year one and said "64% are by local owners." They also said ACDBE businesses are expected to earn about 33% of sales versus an initial ACDBE goal of 11.4%.

The Budget Analyst recommended approval noting estimated base revenues to the airport of about $22.8 million over the initial 10‑year term (rising to about $27.8M if extension options are exercised) and that percentage rent rather than minimum guarantees could produce higher revenues. Public comment was closed without speakers on the record for these items and the committee approved forwarding them as a package.