DEPARTMENT: Convention & Sports Facilities
DEPARTMENT HEAD: Michael J. Sawaya
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
Extension Agreement and First Amendment to the Lease Agreement with San Antonio Sports
SUMMARY:
This ordinance authorizes an Extension Agreement and First Amendment to the Lease Agreement ("Lease") with San Antonio Sports, exercising the available five year renewal option from October 1, 2014, through September 30, 2019, amending rental fee terms and conditions, and providing for the relocation of the San Antonio Sports Hall of Fame, with estimated City revenue of $306,056.00 during the renewal period.
BACKGROUND INFORMATION:
Ordinance No. 99705, dated September 16, 2004, authorized the original Lease with San Antonio Sports for approximately 6,650 sq. ft. of office space at the Alamodome and 15 parking spaces for an initial term of 10 years, October 1, 2004, through September 30, 2014, with a five-year extension option. The initial monthly rental fee was $4,046.30 for utilities and telecommunications (not including long distance), which has since increased to approximately $5,100.93 with the Consumer Price Index and changes to the telecommunications charges to San Antonio Sports.
San Antonio Sports started 29 years ago and has helped to lure and host some of San Antonio's premier events, including NCAA Championships and Rock 'n' Roll San Antonio Marathon, which have put San Antonio on the global stage and delivered more than $446M in local economic impact. The location of San Antonio Sports offices in the Alamodome facilitates the collaboration of San Antonio Sports, the City, and others on development of event bids, event coordination meetings, etc. San Antonio Sports is also in 290 local elementary schools with sports and fitness training programs to promote children and their families to live active and healthy lives.
San Antonio Sports also partners with the City of San Antonio and the San Ant...
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