REQUEST FOR CITY COUNCIL ACTION
DATE: 11/01/2023
TO: Honorable Mayor and City Council Members
FROM: Planning and Development Department
Legal & Risk Management Department
SUBJECT:
Title
FIRST AMENDED CONSOLIDATED AND RESTATED BILLBOARD RELOCATION AGREEMENT BETWEEN THE CITY OF CORONA AND LAMAR CENTRAL OUTDOOR
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EXECUTIVE SUMMARY:
This staff report asks the City Council to enter into a First Amended Consolidated and Restated Billboard Relocation Agreement with Lamar Central Outdoor which will make a slight adjustment to the agreement approved by the Council in May of this year. The May agreement allowed Lamar Central Outdoor to change-out three static billboard panels to electronic changeable message boards on two of their billboard structures within the City, in exchange for better compensation terms for the City. Lamar Central Outdoor has asked for this Amended version in order to change the Company's Annual Monetary Value obligations from a fiscal year to an operational year basis and to make other clarifying revisions.
RECOMMENDED ACTION:
Recommended action
That the City Council authorize the Mayor to execute the First Amended Consolidated and Restated Billboard Relocation Agreement with Lamar Central Outdoor.
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BACKGROUND & HISTORY:
Corona Municipal Code Chapter 17.74, the City's Sign Ordinance, prohibits off-premises and outdoor advertising signs (billboards) per Section 17.74.160, but does allow for relocation agreements entered into between the City and billboard owners.
On May 17, 2023, the City and Lamar Central Outdoor ("Lamar") entered into a Consolidated and Restated Billboard Relocation Agreement which: (1) consolidated two separate relocation agreements dating as far back as 2006 into one agreement; (2) standardized the minimum compensation to be paid to the City for electronic changeable message boards (CMB) at $50,000; (3) increased the threshold at which increases to that amount would be implemented from 12% a...
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