CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
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Petitioner: |
James C. Chrisley, Director of Aviation |
Recommendation:
title
Approve and authorize the Director of Aviation to sign the First Amendment to the Concession Lease Agreement between Clark County and The Marshall Retail Group, LLC, (Huw Crwys-Williams, Chief Executive Officer); or take other action as appropriate. (For possible action)
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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 22% of Gross Revenues, or the Minimum Annual Guarantee (MAG), whichever is greater. |
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Description: |
Amendment to Concession Lease Agreement |
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Additional Comments: |
N/A |
BACKGROUND:
The Clark County Department of Aviation (DOA) has an existing Concession Lease Agreement (Agreement) with The Marshall Retail Group, LLC (Company), for the operation of specialty retail concessions at Harry Reid International Airport.
This First Amendment (Amendment) to the Agreement will extend the term of the Agreement by seven years with one additional three year period, by mutual consent, and update the rent section as follows:
Commencing upon the effective date of this Amendment, Company will pay a monthly rent to the DOA as to each assigned area equal to 22% of Gross Revenues, or the MAG, whichever is greater.
Other updated sections in this Amendment include new definition for effective date, refurbishment, use of assigned areas, hours of operation, rentals, fees and charges, facilities, maintenance, and repair by Company, and added an Exhibit "A".
This Amendment has been approved as to form by the District Attorney's Office. Company currently holds a Clark County Business License.