6. SUBJECT: LEASE AGREEMENT WITH CILANTRO FRESH MEXICAN GRILL FOR KIOSK K-5 AT LOS ANGELES UNION STATION AUTHORIZE the Chief Executive Officer (CEO) to execute a lease agreement with Cilantro Fresh Mexican Grill for Kiosk K-5 at Los Angeles Union Station at a monthly rent of $5,100 with annual increases based on CPI of no less than three-percent (3%) and no more than five-percent (5%), exclusive of common area maintenance fees, gross sales rent of eight-percent (8%) above the natural breakpoint, as well as provisions related to COVID-19 for an initial term of five years with a tenant-initiated five-year extension at fair market value. - Metro Los Angeles

Meeting: Finance, Budget and Audit Committee on 2020-09-16 1:30 PM

Meeting Time: September 16, 2020 at 1:30pm PDT

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Agenda Item

6. SUBJECT: LEASE AGREEMENT WITH CILANTRO FRESH MEXICAN GRILL FOR KIOSK K-5 AT LOS ANGELES UNION STATION AUTHORIZE the Chief Executive Officer (CEO) to execute a lease agreement with Cilantro Fresh Mexican Grill for Kiosk K-5 at Los Angeles Union Station at a monthly rent of $5,100 with annual increases based on CPI of no less than three-percent (3%) and no more than five-percent (5%), exclusive of common area maintenance fees, gross sales rent of eight-percent (8%) above the natural breakpoint, as well as provisions related to COVID-19 for an initial term of five years with a tenant-initiated five-year extension at fair market value.