Contract Request Template (Contracts; IGAs; Leases)
Date Submitted: 10-23-2023
Requesting Agency: DEN
Division:
Subject Matter Expert Name: Rita Aguilar
Email Address: Rita.aguilar@flydenver.com
Phone Number:
Item Title & Description:
(Do not delete the following instructions)
These appear on the Council meeting agenda. Initially, the requesting agency will enter a 2-3 sentence description. Upon bill filling, the City Attorney's Office should enter the title above the description (the title should be in bold font).
Both the title and description must be entered between the red "title" and "body" below. Do not at any time delete the red "title" or "body" markers from this template.
title
Approves a premium value concession contract with Mission Yogurt, Inc., operating as Einstein Bros Bagels, for a minimum annual guarantee of $450,000 for a term of 7 years to design, build, manage, and lease an Einstein Bros Bagels on the B concourse of the airport, in Council District 11. 202369812.
body
Affected Council District(s) or citywide?
Council District 11
Contract Control Number:
202369812
Vendor/Contractor Name (including any "DBA"):
Mission Yogurt, Inc., Einstein Bros Bagels
Type and Scope of services to be performed:
Mission Yogurt, Inc., will design, build, manage, and lease Einstein Bros Bagels on Concourse B, East-Subcore 2. Mission Yogurt, Inc., has committed to investing a minimum of $1,374,750.00 to design and build this space. To amortize Mission Yogurt, Inc., capital investment, they will receive a contract term of 7 years. Denver International Airport (DEN) will receive the greater of either a guaranteed rent/Minimum Annual guarantee (MAG) of $450,000.00 or a percentage rent of gross sales at 16% Food and Beverage and 18% Alcohol. MAG is the initial calculation based on the projected gross sales by the concessionaires for the space multiplied by the proposed percentage fee listed above. MAG is recalculated each contract year and will be e...
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