BACKGROUND:
Council adopted a goal this year related to billboards in the City:
Provide a presentation on the legal methods available to reduce, over time, the number of billboards in the City.
An initial discussion was held with Council in study session on August 18, 2021 and a follow-up discussion was held on November 30, 2021. The result was Council direction to amend the code to prohibit billboards in the City other than in the I-10 corridor. A companion action requested was to terminate the lease agreement for a billboard on a City-owned property in the city in accordance with the terms of the lease document.
DISCUSSION:
The lease agreement indicates that the City (lessor) may terminate the lease agreement 120 days after providing notice to the lessee.
Legal staff has prepared the required notice, which is attached. The recommended action is to authorize execution of the termination notice in accordance with the provisions of the lease.
FISCAL IMPACT:
The lease generates a base rent payment to the City of $8,000 per year. For the past six fiscal years the actual revenue received was exactly the base amount of $8,000 each year.