DEPARTMENT: Center City Operations & Development
DEPARTMENT HEAD: John Jacks
COUNCIL DISTRICTS IMPACTED: 1
SUBJECT:
Market Square Leases
SUMMARY:
This Ordinance authorizes lease agreements with Farmers Market and El Mercado lessees, for a term from June 1, 2020 to May 31, 2025 with 2% lease rate increases in year 3 and 5. After the initial term, lessees may request an additional 5-year lease contingent upon City Council approval. This Ordinance also authorizes sales reporting; adjusts provisions for lease assignments; and changes current summer hours of operation.
BACKGROUND INFORMATION:
The City of San Antonio owns and manages Market Square, a historic and culturally significant place in San Antonio. Market Square is a unique marketplace full of lively entertainment, food, art and local vendors. There are 56 businesses in the Farmers Market and 33 businesses in El Mercado, ranging from cafes to shops specializing in local, regional and international products. Market Square Plaza also provides additional privately-owned restaurants and retail stores that create an active public space for locals and visitors.
On June 23, 2011, City Council authorized extensions to all Farmers Market and El Mercado leases until June 30, 2014. The ordinance also provided the City the option to renew all the Farmers Market and El Mercado leases for an additional three-year period until June 30, 2017 and a subsequent two-year period until June 30, 2019. The City has exercised its options to extend the Farmers Market and El Mercado agreements until June 30, 2019. All current leases are operating on a month-to-month basis.
Market Square is the crossroads for many recent developments happening within downtown including bond infrastructure projects, San Pedro Creek Culture Park, Alameda Theater restoration, University of Texas at San Antonio expansion and Frost Tower. Market Square has the opportunity to be an incredible hub of cultural activity on the west side...
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