DEPARTMENT: Center City Development and Operations Department
DEPARTMENT HEAD: John Jacks
COUNCIL DISTRICTS IMPACTED: 1
SUBJECT:
La Villita Lease Agreement
SUMMARY:
This ordinance authorizes a one-year La Villita Lease Agreement, effective July 1, 2019 through June 30, 2020 and includes two, one-year renewal options with Karla Benavides d/b/a Huipil Market for use of Building 7. The total amounts to be paid by Huipil Market for the initial lease term is $11,043.37, which includes rental abatement provided in April due to Night In Old San Antonio (NIOSA). All revenue generated from this lease agreement will be deposited into the General Fund.
BACKGROUND INFORMATION:
Karla Benavides d/b/a Huipil Market has been a temporary tenant in La Villita since June 2018. Huipil Market specializes in the retail sale of Fair Trade women's handbags, jewelry, accessories, apparel, and home d?cor created by local and international artisans. City Staff has evaluated Huipil Market's performance over the past year and concludes that the retail mix and varying price points are successful at attracting residents and visitors.
The proposed lease with Huipil Market is for building 7 which totals 659.42 square feet. The agreement is for a one-year term effective July 1, 2019 and includes two, one-year renewal options.
ISSUE:
Approval of this ordinance is consistent with the City's practice of leasing City-owned property in support of downtown retail activity.
ALTERNATIVES:
The City may elect not to approve this lease agreement, which would result in Huipil Market remaining as temporary tenant or vacating.
FISCAL IMPACT:
This ordinance authorizes a one-year La Villita Lease Agreement, effective July 1, 2019 through June 30, 2020 and includes two, one-year renewal options with Karla Benavides d/b/a Huipil Market for use of Building 7. The total amounts to be paid by Huipil Market for the initial lease term is $11,043.37, which includes rental abatement provid...
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