Title
Authorization to Amend License Agreement 130665 with Outfront Media, LLC, to Extend the Term (Ordinance S-49811)
Description
Request to authorize the City Manager, or his designee, to amend a license agreement with Outfront Media, LLC, for a billboard site located at 4619 E. Washington St., to extend the term for up to five years. Further request authorization for the City Treasurer to accept all funds related to this item.
Report
Summary
The billboard site, located at 4619 E. Washington St., is within the S’edav Va’aki Museum property (formerly Pueblo Grande Museum). Outfront Media, LLC (Outfront), has occupied the billboard site as a holdover tenant since Aug. 31, 2021, under City Contract 130665. The Parks and Recreation Department would like to enter into a new month-to-month lease agreement with a 30-day termination provision, to begin July 1, 2023. Outfront is a long-term tenant in good standing.
Contract Term
The license term will begin July 1, 2023, and will continue on a month-to-month basis with a 30-day termination notification provision.
Financial Impact
Monthly base rent for the billboard site will be $1,500, plus applicable taxes, which is within the range of market rents as determined by the Finance Department Real Estate Division.
Location
4619 E. Washington St.
Council District: 8
Department
Responsible Department
This item is submitted by Deputy City Manager Inger Erickson, and the Parks and Recreation and Finance departments.