Minutes Exhibit F
Commission-Public-Records From: Jim SchmitzSent: Tuesday, March 24, 2020 8:55 AM To: Commission-Public-Records Cc: Eunice Lee Subject: [EXTERNAL] Commission Special Meeting Categories: Public Comment WARNING: This is an external email. Do not click on links or open attachments unless you recognize the sender and expect the content of this email to be safe. Esteemed Commissioners, As you can imagine, the Covid19 pandemic has taken an unforeseen toll on the entire airport community. At Stellar Retail, a concessionaire operating several Retail establishments in Seattle International Airport, the health and well being of our associates, as well as our viability as a company moving forward is tantamount. As a result of continued decreases in airport traffic and subsequent losses in revenue, we have had to take the unfortunate action of furloughing an overwhelming number of associates. So far, the airport has been a tremendous partner, allowing us to adjust store hours and, in some cases, close locations down. However, this, coupled with corporate pay cuts and furloughs, is not enough to offset the cost of maintaining associate benefits and keeping the minimum amount of viable locations open. We are now requesting that certain measures be taken, retroactively effective on March 1, 2020, in order for us to remain solvent as a business: 1. Suspension of Minimum Annual Guarantees 2. Suspension of Variable Rents 3. Suspension of Operating Costs related to store openings (utilities, CAM, Marketing fees, etc.) You may already know that other airports have taken similar actions. We understand these are temporary and look forward to the day when we can resume business as usual. IMPORTANT NOTICE: This e-mail message is intended to be received only by persons entitled to receive the confidential information it may contain. E-mail messages to clients of Stellar Partners, Inc. may contain information that is confidential and legally privileged. Please do not read, copy, forward, or store this message unless you are an intended recipient of it. If you have received this message in error, please forward it to the sender and delete it completely from your computer system. 1
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