City of Grand Prairie - File #: 20-9906

• File #: 20-9906
• Version: 1
• Name: AEG COVID rent reduction
• Type: Agenda Item
• Status: Consent Agenda
• File created: 4/6/2020
• In control: City Attorney
• On agenda: 7/1/2020
• Title: Extension of AEG Lease Amendment for a 50% Rent Reduction during the term of the COVID pandemic through June 30, 2021

From

Megan Mahan

Title

Extension of AEG Lease Amendment for a 50% Rent Reduction during the term of the COVID pandemic through June 30, 2021

Presenter

Megan Mahan

Recommended Action

Approve

Analysis

The Theater at Grand Prairie was ordered to be shut down during COVID. This will reduce the rent during the term of the pandemic or June 30, 2021, whichever occurs first, and will extend the term of the lease so that the City will receive the proper amount of rent over time.

Financial Consideration

 the term of the lease will be extended so that the City will receive the proper amount of rent over time