DEPARTMENT: Center City Development and Operations
DEPARTMENT HEAD: John Jacks
COUNCIL DISTRICTS IMPACTED: 1
SUBJECT:
Amendment to existing lease to assign to another entity and reduce the square footage occupied.
SUMMARY:
This ordinance authorizes the amendment of an existing lease in the City-owned International Center Building with Free Trade Alliance San Antonio and assigns that lease to the San Antonio Economic Development Foundation (EDF) along with a reduction of space occupied from 6,100 square feet to 2,824 square feet for a term ending September 30, 2019 at an initial annual rent of $36,846.96 increasing to an annual rent of $37,581.00 during the final year of the term.
BACKGROUND INFORMATION:
In response to the constantly evolving development of policies and programs aimed at building upon San Antonio's long standing support of international trade, the City recently formulated a strategy that designates the EDF as the primary partner for fostering trading relationships between the local community, Mexico and Latin America. To avoid redundancy in the funding of various non-profit entities that have traditionally lent their support to these efforts the Free Trade Alliance agreed to merge their efforts with those of the EDF. As a result of this streamline and focus of efforts, staff formerly employed by Free Trade Alliance have been absorbed into the EDF and have relocated into space already occupied by EDF. Therefore, a portion of the space formerly occupied by Free Trade Alliance is now surplus to the needs of the reconfigured EDF. As part of this merger, EDF will continue to promote the development of trade through the business incubator program which was previously managed by Free Trade Alliance and will continue to be housed in the space they will retain in the building.
ISSUE:
The City has developed a streamlined strategy for promoting international trade which resulted in the recent merger of Free Trade Alliance and EDF....
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