Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Supervisors delay vote on SFO advertising amendment after budget analyst flags guarantee language
Summary
The Budget & Finance Committee continued for four weeks a proposed amendment to Clear Channels advertising lease at San Francisco International Airport after the budget analyst warned the minimum annual guarantee could lock the city into an unchanging payment level despite Clear Channels higher revenue projections.
The Budget and Finance Committee on Wednesday put off action for four weeks on an amendment to Clear Channels advertising lease at San Francisco International Airport after the committees budget analyst raised concerns about how the minimum annual guarantee is written.
Mister Rose, the committees budget analyst, told supervisors the amendment incorporates $1.8 million in capital improvements into the lease but uses a minimum annual guarantee formula that departs from prior airport leases. "What you have before you is that you would receive 85% of the prior year's gross receipts or the minimum annual…
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
