DOT's Gorman presents concession agreement overview
Kyle Gorman from DOT's Public Realm team introduces concession types, explaining they promote active use of public spaces and create opportunities for small businesses including MWBEs. He describes the Plaza Concession Agreement allowing the BID to host commercial events, sponsorships, and sub-concessions, with agreements up to 20 years.
Good morning, everyone.
I'm Kyle Gorman from the DOT Public Realm team.
I'm a director of programs, operations, and partnerships.
And just lastly, we wanted to highlight a little bit more about what concessions actually look like on these plazas.
So we move to two slides ahead, please.
I'll give a little bit of a brief overview of concessions.
So these promote the positive and active use of these spaces, creates opportunities for small businesses, especially NWBEs.
There's a few different types of concession agreements that DOT does.
Predominantly today, we're really talking about the Plaza Concession Agreement, which allows the bid to host commercial events and derive fees from those commercial entities that are hosting those events, entering into sponsorship agreements and having sub-concessions, which we'll talk about briefly.
Typically, these are multi-year agreements that can be up to 20 years, which was something that we're looking to pursue with the bid.
Next slide, please.