...Title
Large Format Digital Signage on City-Owned Property.
...Recommendations
(a) Adopt a resolution adopting the Mitigated Negative Declaration for the Electronic Signs on City-Owned Property - Downtown Sites and adopting a related Mitigation Monitoring and Reporting Program, in accordance with the California Environmental Quality Act, as amended.
(b) Adopt a resolution authorizing the City Manager, or her designee, to negotiate and execute lease agreements with Orange Barrel Media, LLC, for four City-owned properties in downtown San José for the installation of five large format digital signs, each lease for a 10-year initial term with up to two additional five-year renewal terms upon satisfaction of certain tenant-controlled renewal criteria, and with a required payment of 33% of gross revenue generated for all leases, except the San José McEnery Convention Center in which the required payment is 30% of gross revenue generated, but in no instance less than the minimum guaranteed payments for the 20-year term as follows:
(1) San José Center for the Performing Arts: $8,722,292.
(2) San José McEnery Convention Center: $6,728,625.
(3) Market/San Pedro Street Parking Garage: $3,115,104.
(4) Second and San Carlos Street Parking Garage: $2,492,083.
CEQA: Mitigated Negative Declaration for Electronic Signs on City-Owned Property - Downtown Sites (File No. ER23-034). Council District 3. (Economic Development and Cultural Affairs/Planning, Building and Code Enforcement)