APT update

According to Richard Keit, managing director of the Successor Agency to the Redevelopment Agency (SARA), each toilet has its own 20-year contract.  One contract elapsed in December and the rest will expire at various times through 2019.

“SARA is in the black now,” Keit said.  “We paid all the arrears and thank the city, SJDA and VTA for chipping in during the years we could not pay.  Moving forward, the agency and city will pick up the balance for 2019 and the city will discuss a new long-term agreement with JCDecaux.”

The toilets are well-used and important assets for downtown, Keit said.  It will be beneficial to get the toilets collectively under one agreement, he said.  With more people on downtown San Jose streets, the city may have bargaining power to offset the cost of a long-term lease by trading  advertising kiosk space in key downtown locations, he added.

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