Port of Seattle Commissioners approved the extension of leases for current airport dining and retail tenants by up to three years in an effort to give them more time to recover financially from the economic crisis brought on by COVID-19.
The extensions add to previous actions taken by the Port to help stabilize local businesses and workers while they continued providing essential trade and travel services. Peter Steinbrueck, president of the Port of Seattle Commission, indicated the Port is uniquely positioned to be one of the leading public agencies helping to drive recovery efforts.
“Moving forward, we are also adding more funds to several jobs and economic impact programs to help those most in need throughout our region and state,” he said.
On April 1, the Port barred the eviction of tenants unable to pay rent as a result of COVID-19, authorized up to four months of rent and fee deferral for tenants and concessionaires at Seattle-Tacoma International Airport (SEA) and established principles for COVID-19 economic relief and recovery, and directed the airport to provide further relief as necessary. It later extended the four-month rent deferral to an expanded list of airport-related tenants and businesses.
During the height of the pandemic, 66 percent of the airport’s dining and retail tenants temporarily closed due to the decline in air travel, but 10 restaurants and shops recently reopened as passenger volumes have begun incrementally increasing, according to the Port. SEA’s live music program also will return with daily performances on June 15.
