ALBUQUERQUE (KRQE) - Balloon Fiesta officials and a lawyer representing food vendors are negotiating a rental deal to hammer out details of a possible rent hike.
The vendors were given a new contract that many are calling outrageous and something they can not afford.
Before this contract, vendors paid a flat rate to rent space at the park. Now the lawyers representing say the vendors will have to pay 30 percent of all gross profits.
According to Ovations Food Services, the Florida Company who also manages most of the concessions at Isotopes Park and hired to oversee Fiesta vendors, the bulk of that money will go to help with Fiesta improvements.
Vendors like Matty Romero with Perico's argues that adding those payments to labor and food costs could leave them with a three-percent total profit.
The contract was to be signed by Monday evening, but the vendors asked for a two week extension. They got four days to work out a plan.
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