Budget and Finance Committee meeting summary
At a glance
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The Committee recommended, 3-0, an amended resolution approving a revised lease with Tad’s Inc. for 44 Ellis Street converting base rent to 8% of gross revenues (with retroactive and waiver provisions) and setting a $2,400 monthly water charge. The Committee continued an amended ordinance to raise the Board approval threshold for grants to July 8, 2026. The Committee recommended, 3-0, a 4.50% COLA to the Budget and Legislative Analyst contract effective July 1, 2026, increasing the FY2026–2027 contract amount to $3,544,900.
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What this means
The committee approved changes to the lease for Tad’s restaurant at 44 Ellis Street that switch rent to a percentage of sales (8%), set a monthly water charge, and waive certain past charges; this changes how the city and the business share revenue and some historic obligations. A proposed change to allow the city to accept larger grants without Board approval was amended and put off to the July 8 meeting, so no final change has taken effect yet. The committee also approved a 4.5% cost-of-living increase for the contract that pays the Budget and Legislative Analyst, slightly raising that contract’s yearly cost.
Key decisions
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- Recommended as amended (3-0): Resolution approving an Amended and Restated Lease Agreement with Tad’s Inc. (44 Ellis Street) converting monthly base rent to a percentage rent of 8% of gross revenues (retroactive to Jan 1, 2021), amending the monthly water charge to $2,400 (retroactive to Feb 1, 2024), requiring a $4,000 administrative fee, imposing minimum hours of operation, waiving base rent Apr 1–Dec 31, 2020 and waiving outstanding water charges Feb 1, 2020–Jan 31, 2024; effective through Apr 30, 2029.
- Continued as amended to July 8, 2026 (3-0): Ordinance amending the Administrative Code to increase the minimum grant award amount requiring Board of Supervisors approval from $100,000 to the greater of $1,000,000 or the federal single audit threshold (effective Oct 1, 2026), add rules for when grant increases trigger Board approval, and exempt certain legal-service gifts.
- Recommended (3-0): Motion enacting a 4.50% cost-of-living adjustment to the Budget and Legislative Analyst Services contract effective July 1, 2026, raising the FY2026–2027 contract amount to $3,544,900 and resulting in an annual increase of $152,651 (total contract not to exceed $36,000,000 through Dec 31, 2031).
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Meeting information
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Budget and Finance Committee (6/17/2026 10:00 AM)
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