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Q&A
Vendor leases and incubator program operation at Malcolm Shabazz Harlem Market
0:18:33
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128 sec
Council Member Yusef Salaam inquires about vendor leases and the operation of the incubator program at the Malcolm Shabazz Harlem Market. Tariq Shahid explains the market's approach to vendor agreements and its role as an incubator for small businesses.
- Vendors do not have leases but operate under weekly fee agreements
- The market functions as an incubator program to help vendors become independent business owners
- Only two vendors have been removed from the market in 30 years, and that was due to fighting
Yusef Salaam
0:18:33
Gotcha.
0:18:34
Gotcha.
0:18:35
Will the vendors have leases?
0:18:37
And how does the incubator program operate?
Tariq Shahid
0:18:40
Okay.
0:18:40
Good.
0:18:41
I'm so glad you asked that question.
0:18:42
No.
0:18:43
They will not have leases.
0:18:44
We don't deal in leases.
0:18:45
I'll tell you why.
0:18:46
And number 1, we we this is an incubator program, and they and they have a membership.
0:18:52
And this membership is pursuant to that they have a they have what we call a fee agreement.
0:18:57
Just as if you go to the why, Since if you go to a hotel, you go to a hotel, you you check-in, if you don't pay your bill, they lock the door.
0:19:05
We do the same thing this way.
0:19:06
We avoid being going back and forth to court in a situation where we're still covering expenses and people are not paying their their fee.
0:19:13
So and it's an incubator program.
0:19:15
Our design is to help people get their point where they can be independent and move out on their own to be in business.
0:19:21
That's the ultimate objective.
0:19:23
So so, no, we won't have we'll do the same thing we have.
0:19:26
We have fee agreements.
0:19:28
And their weekly fee agreements, and you you pay 7 days.
0:19:31
You pay for 7 days.
0:19:32
For example, if you go you you know, if you if you're paying a $140 for a week, then at the end of the week, if you you pay your rent, if you don't pay your your fee, then, of course, we lock the door.
0:19:42
And then just to so you know this, we have never had anybody put out because they didn't go to their end ever.
0:19:49
We've only had two people to take it out of the market in 30 years, and that was for fighting, which we don't allow.
0:19:55
So let's see.
0:19:56
And only two people in 30 years have been put out of the market.
0:19:58
We've had people leave, not pay their rent.
0:20:00
They come back.
0:20:01
We take them back.
0:20:01
This is our community.
0:20:02
We're trying to build trying to develop people.
0:20:04
We know that so if some people come in, they they have products that won't sell.
0:20:07
So what do we do?
0:20:08
We tell them, okay.
0:20:09
Why don't you change products?
0:20:11
But the market started over in a in a in a in a grand way by number 1 giving this brainchild will be my passion's great.
0:20:17
Number 1, we used to give English as a second language.
0:20:22
We would get in inventory classes.
0:20:25
Tax, how you do your taxes, you know, how to prepare, how to market your business, how to sell in our market.
0:20:31
So it's been an amazing situation.
0:20:33
So we we feel really confident in terms of the market and it's new development, and we're in a in a new low not a new location, but a new spirit in that location.