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On agenda:
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11/19/2024
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Final action:
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11/19/2024
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Title:
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Approve and authorize the Director of Aviation to sign the Concession Lease Agreements between Clark County and Irenic Consulting Group LLC dba Candy Cove (Clifton Marshall, Vice President); The Day One Group, LLC (Dominique Lindsay, Chief Executive Officer); Pandora Ventures, LLC dba Pandora (Luciano Rodembusch, General Manager - North America); MRG Las Vegas III, LLC dba Tumi (Roderick I. McOwan, Chief Development Officer); Natalie's MRG, LLC dba Natalie's Candy Jar (Mark Taub, Partner & Roderick I. McOwan, Chief Development Officer); MRG Las Vegas IV, LLC dba Tumi (Susan Prevost, President, Manuel Soto IV, CEO/President, & Roderick I. McOwan, Chief Development Officer); MRG Las Vegas V, LLC, dba Kate Spade (Roderick I. McOwan, Chief Development Officer); Airport Retail Stores LLC (Marcos Modiano, Chief Executive Officer); and Brighton Collectibles - Nevada LLC (Christopher Cansiani, Chief Financial Officer) (Companies) for the operation of specialty retail concessions at Harry Reid International Airport; or take other action as appropriate. (For possible action)
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Attachments:
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1. Staff Report, 2. RFP 1332-23 Irenic Consulting Group Agreement, 3. RFP 1332-23 The Day One Group Agreement, 4. RFP 1332-23 Pandora Agreement, 5. RFP 1332-23 MRG Las Vegas III, LLC Agreement, 6. RFP 1332-23 Natalie's MRG, LLC Agreement, 7. RFP 1332-23 MRG Las Vegas IV, LLC Agreement, 8. RFP 1332-23 MRG Las Vegas V, LLC Agreement, 9. RFP 1332-23 Airport Retail Stores, LLC Agreement, 10. RFP 1332-23 Brighton Collectibles-Nevada, LLC Agreement
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CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
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Petitioner: |
Rosemary A. Vassiliadis, Director of Aviation |
Recommendation:
title
Approve and authorize the Director of Aviation to sign the Concession Lease Agreements between Clark County and Irenic Consulting Group LLC dba Candy Cove (Clifton Marshall, Vice President); The Day One Group, LLC (Dominique Lindsay, Chief Executive Officer); Pandora Ventures, LLC dba Pandora (Luciano Rodembusch, General Manager - North America); MRG Las Vegas III, LLC dba Tumi (Roderick I. McOwan, Chief Development Officer); Natalie’s MRG, LLC dba Natalie's Candy Jar (Mark Taub, Partner & Roderick I. McOwan, Chief Development Officer); MRG Las Vegas IV, LLC dba Tumi (Susan Prevost, President, Manuel Soto IV, CEO/President, & Roderick I. McOwan, Chief Development Officer); MRG Las Vegas V, LLC, dba Kate Spade (Roderick I. McOwan, Chief Development Officer); Airport Retail Stores LLC (Marcos Modiano, Chief Executive Officer); and Brighton Collectibles - Nevada LLC (Christopher Cansiani, Chief Financial Officer) (Companies) for the operation of specialty retail concessions at Harry Reid International Airport; or take other action as appropriate. (For possible action)
body
FISCAL IMPACT:
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Fund #: |
5201.701 |
Fund Name: |
LAS Unrestricted Operations |
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Fund Center: |
2200400050 |
Funded PGM/Grant: |
N/A |
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Amount: |
County will receive monthly rent equal to 15% -20% of Gross Revenue, or a Minimum Annual Guarantee (MAG) whichever is greater. |
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Description: |
Concession Lease Agreements |
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Additional Comments: |
N/A |
BACKGROUND:
On June 18, 2024, the Board of County Commissioners authorized staff to negotiate with the Companies whose proposals were selected in response to Request for Proposal (RFP) 133-23, Airport Specialty Retail.
The Clark County Department of Aviation has completed these Agreements with the selected Companies. The pertinent provisions on all Agreements are as follows:
• Term shall be for seven years with an option to renew the Agreements for one additional 3-year period.
• Companies will pay monthly rent to County equal to 15%-20% of Gross Revenue for the first year of
operations, after which, Companies will pay the greater of 15%-20% of Gross Revenue or a MAG.
The Companies, Concepts, and specific percentage rent will be as follows:
Irenic Consulting Group LLC dba Candy Cove:
• Candy Cove (Terminal 3, E-Gates) - 17% of Gross Revenue
The Day One Group, LLC:
• The BLVD (Terminal 3, E-Gates) - 20% of Gross Revenue
Pandora Ventures, LLC:
• Pandora (Terminal 3, E-Gates) - 15.5% of Gross Revenue
• Pandora (Terminal 1, D-Gates) - 17% of Gross Revenue
MRG Las Vegas III, LLC:
• Tumi (Terminal 1, D-Gates, SE) - 15% up to $750k and 17% from $750k & up of Gross Revenue
Natalie’s MRG, LLC:
• Natalie's Candy Jar. (Terminal 1, D-Gates) - 15% of Gross Revenue
MRG Las Vegas IV, LLC:
• Tumi (Terminal 1, D-Gates, SW) - 17% of Gross Revenue
MRG Las Vegas V, LLC:
• Kate Spade (Terminal 1, D-Gates) - 15% of Gross Revenue
Airport Retail Stores LLC:
• Lego (Terminal 1, C-Gates) - 15% of Gross Revenue
Brighton Collectibles - Nevada LLC:
• Brighton (Terminal 1, Esplanade) - 15% of Gross Revenue
The Agreements have been approved as to form by the District Attorney's Office. Advertising, in accordance with NRS 496.090, has been completed.
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