DEPARTMENT: Center City Development and Operations Department
DEPARTMENT HEAD: John Jacks
COUNCIL DISTRICTS IMPACTED: 1
SUBJECT:
Assignment of Riverwalk Lease Agreement and Riverwalk Use Fee Agreement
SUMMARY:
This ordinance authorizes the assignment of a Riverwalk Lease Agreement and Riverwalk Use Fee Agreement from Paseo-Losoya, Ltd. to MCC Resort San Antonio LLC (Assignee) as a result of the Assignee operating a restaurant on the property adjacent to the leased and used premises.
BACKGROUND INFORMATION:
On May 22, 2003, City Council approved Ordinance 96740, which authorized the lease of 485 square feet of River Walk patio space and the use of 149 square feet of River Walk airspace to Paseo-Losoya, Ltd.
On August 10, 2017, in accordance with provisions of the lease and use agreements, Paseo-Losoya, Ltd. submitted a written request asking that the City of San Antonio approve assignment of their agreements to MCC Resort San Antonio LLC.
ISSUE:
Approval of this ordinance is consistent with the City’s lease and use agreements with Paseo-Losoya, Ltd. which allows for the agreements to be assigned subject to prior written consent of the City acting through passage of a City Council ordinance.
ALTERNATIVES:
The City may elect not to approve assignment of the agreements, which would result in MCC Resort San Antonio, LLC, not benefitting from commercial use of the adjacent River Walk patio space.
FISCAL IMPACT:
There is no fiscal impact as a result of the proposed assignments.
RECOMMENDATION:
Staff recommends approval of the assignment of the Riverwalk Lease Agreement and Riverwalk Use Fee Agreement from Paseo-Losoya, Ltd. to MCC Resort San Antonio LLC.