...Title
Continued Financial Relief and On-Airport Rental Car Operations Agreements and Lease Agreements for Non-Aeronautical Rental Car Concessions at the Norman Y. Mineta San José International Airport.
...Recommendations
Adopt a resolution authorizing the City Manager to negotiate and execute amendments to rental car concession agreements to: (a) extend the term retroactive from July 1, 2020 to June 30, 2030; and (b) provide continued temporary financial relief to rental car concessions (“Rental Cars”) operating on the Airport premises retroactive from July 1, 2020 through December 31, 2020, to support Rental Car operations that have been directly impacted by Airport passenger activity declines as a result of the COVID-19 pandemic. Financial relief for the Rental Cars could include: (a) continued suspension of the Minimum Annual Guarantee Rent and charging only percentage rent due through December 31, 2020; (b) defer the reallocation date of construction and any relocation of services to a later date; and (c) defer rent adjustment appraisals to a later date and increase rent from leased premises by Consumer Price Index (CPI).
CEQA: Not a Project, File No. PP17-003, Agreements/Contracts resulting in no physical changes to the environment. (Airport)