QUESTION
Has the rent to the city changed following the 2021 lease extension?
0:20:13
·
50 sec
The city's rent payment has increased by $5,000,000 annually due to the 2021 lease extension, amounting to a total of $183,000,000.
- The New York City Economic Development Corporation confirms a $5,000,000 annual increase in city rent, as a result of a 2021 lease extension.
- The total annual rent payment to the city's general fund is now $183,000,000.
- Council Member Farías seeks clarification on whether a 3% increase is included.
- The executive vice president, Jennifer Sun, indicates the need for confirmation regarding the 3% increase inclusion.
Amanda Farías
0:20:13
And is the same deal for rents Is this the same deal for rent today?
Jennifer Sun
0:20:18
So as a result of the 2021 lease extension, I believe the city has increase the rent that is received by the Citi by $5,000,000 a year.
0:20:29
So the total rent payment to the Citi's general fund is now 100 $83,000,000 annually.
Amanda Farías
0:20:36
Sorry to say again?
Jennifer Sun
0:20:37
The current rent payment to the city is $183,000,000 annually.
0:20:42
And that includes the $5,000,000 annual increase negotiated in 2021.
Amanda Farías
0:20:52
Will that include the 3%?
Jennifer Sun
0:20:55
We can confirm whether that includes
Amanda Farías
0:20:57
the 3 point that follow-up.
0:21:01
And I guess just an alignment here.