Memorandum
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The memorandum discusses a lease agreement between the City of San José and the San Jose Sports Authority for a city-owned property located at 93 East San Carlos Street. The recommendation includes authorizing the City Manager to negotiate and execute a below-market lease agreement for a downtown Visitor Center, which will promote San José as a destination for major sporting events. The lease term is proposed for up to 10 years, with a base rent of $1.00 per month and additional revenue from consignment sales. The memorandum outlines the responsibilities of the Sports Authority, including funding tenant improvements and managing the Visitor Center, which will serve as an information hub for events and local attractions. The memorandum also mentions the potential for additional promotions related to upcoming sporting events in 2026.
Key points
- Lease agreement for city-owned property at 93 East San Carlos Street.
- City Manager authorized to negotiate and execute the lease.
- Lease term proposed for up to 10 years with a base rent of $1.00 per month.
- Visitor Center to promote San José as a destination for major sporting events.
- Sports Authority responsible for tenant improvements and management of the Visitor Center.
- Additional revenue from consignment sales to be shared with the City.
Limitations
- The document contains placeholders and unfilled sections that may affect the completeness of the summary.
- Specific dates and amounts mentioned in the text are not fully resolved or detailed.
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