Fiscal year 1314. The rent will remain fixed at this level for three years and at which time it will increase to reflect the cpi that is capped at 3 annually. The budget analyst recommends approval and i am happy to answer any questions you may have. Thank you very much. Colleagues any questions . Okay. Thank you very much. Mr. Rose, could we go to your budget Analyst Report for item number eight . Yes mr. Chairman and members of the committee. Table one on page 33 of your report shows that the lease premises will decrease by by acreage and 3. 8 decrease. The rent per acre increases by 10,000 or 12. 5 so total rent of 8. 3 after adjusting for the change in acreage. We also note mr. Chairman and members of the committee on page 33 that the proposed rent of 93,000 per acre is 46. 96 less than the fair market value based on the Third Party Appraisal conducted by cbre so that results in reduced rent over 10 years of 6 million. However, the airport and the United Airlines as reported to us
The proposed agreement is a total of 19,659,606 for five years and that is in table two. We recommend that you do amend this resolution to specify that the agreement is ret to active and you approve the resolution as amended. Okay. Colleagues any questions for mr. Roases . Okay thank you very much. Thank you supervisors. We will open it up for Public Comment on item five . Anyone wish to comment . Seeing none Public Comment is closed. All right. We have budget analyst i move the recommendation of the budget analyst. We can do that without opposition. Can we move that forward without opposition . Okay. So moved. We will move on to item seven please. Item number seven resolution authorizing the office of economic and Workforce Development to retroactively spend inkind gift for the development of the web base enterprise zone hiring tax credit application. Okay. Thanks. We have todd here from owd here. This is a retroactive for inkind gift value at 16,000 for a web base application for the
Long standing relationship between one of their major tenants, united airlines, and we think that is reasonable, and we recommend that you approve the legislation. Thank you very much mr. Rose. Colleagues any questions or comments . Okay. We will move on to Public Comment for item eight. Anyone wish to publicly comment on this item . Seeing none Public Comment is closed. Colleagues we have one amendment recommended by mr. Rose. Can we take that amendment actually we just recommend a straight approval on this one. Isnt there a retroactively excuse me, absolutely. Thats correct. Okay. So we have been recommendation. Can we take that without opposition . And the other item as amended and can we take that without opposition . So moved. Mr. Clerk can you call item nine. Item nine approving the Lease Agreement with China Eastern Airlines and Scandinavian Airlines of north America Incorporated and acting through and by the airport commission. Sorry, go ahead. Chair farrell, members of the com
Bottom what is stated on page 37 and China Eastern Airlines and Scandinavian Airlines will pay the amount listed that is less than the permits. We recommend that you approve this resolution. Okay thank you mr. Rose. Colleagues any questions comments for mr. Rose . Okay. We will move on to Public Comment . Seeing none Public Comment is closed. We have a motion to move this item forward with approval full board. We can do so without opposition. Mr. Clerk can you call item 10. Item 10 for leases for airport lease and candy kiosk lcc and lease with marilla Chocolate Company airport spa with xpresspa San Francisco International Llc and acknowledge accessories with ilg and llc and airport commission. Ms. Whiner welcome back. See what happens when i am not here for a couple of weeks. Kathy wagner with the San Francisco airport. The airport is looking to amend four leases and marilla Chocolate Company and pacific gateway expressions and xpresspa sf. These tenants are in terminal three of the a
Proposed agreements they will pay the air airport monthly landing fees listed. The budget analyst recommends approval and i am happy to answer any questions. Thank you. Colleagues any questions . Okay. We will move on to the budget Analyst Report for item nine please. Mr. Chairman, members of committee on page 36 at the bottom what is stated on page 37 and China Eastern Airlines and Scandinavian Airlines will pay the amount listed that is less than the permits. We recommend that you approve this resolution. Okay thank you mr. Rose. Colleagues any questions comments for mr. Rose . Okay. We will move on to Public Comment . Seeing none Public Comment is closed. We have a motion to move this item forward with approval full board. We can do so without opposition. Mr. Clerk can you call item 10. Item 10 for leases for airport lease and candy kiosk lcc and lease with marilla Chocolate Company airport spa with xpresspa San Francisco International Llc and acknowledge accessories with ilg and ll