2018.05.08 CC - Laserfiche WebLink

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April 24, 2018 Page 4 of 6 Finance Director Davitt reported the information is presented strictly on a cash basis which measures only the actual revenues that have been deposited and the actual expenditures that have been paid. This is in contrast with the City’s audited year-end financial report which attempts to measure revenues earned but not collected, as well as costs incurred but not yet paid. It should be noted that many of the City’s revenue streams such as property taxes, are non-recurring or are received intermittently throughout the year. This can result in wide revenue fluctuations from month to month. In addition, some of the City’s expenditures such as new capital purchases are also non-recurring and subject to wide fluctuations. To accommodate these differences, a comparison is made to historical results to identify whether any new trends exist. Councilmember Burg thanked staff for the thorough report. She discussed how the snow and heavy rain from last year would have impacted the golf course. 5 Ayes, 0 Nays-Motion Carried 2. Consideration of Billboard Lease at 400 10th Street NW. Motion by Councilmember Dunsworth, seconded by Councilmember Burg to Authorize the Mayor and City Manager to enter into a Site Lease Agreement by and Between the City of New Brighton and Clear Channel Outdoor, Inc. final agreement language subject to City Attorney approval. City Manager Lotter indicated Community Assets and Development Director Schlichting would be presenting this item to the Council. Community Assets and Development Director Schlichting explained over the past year, City staff worked on revisions to Chapter 9 of the Zoning Code regarding content-based language and billboards. Ordinance 860 and amendments to Chapter 9 allow for the placement of a dynamic billboard on City property at this location. Staff contacted two of the most prevalent billboard providers in the area to determine what revenues could be expected at a site like this. Without knowing any details about the site, one provider indicated leases like this would typically start at $48,000/year. Since this first discussion, staff has engaged these same two providers on four occasions with the proposed lease-pricing coming in at $60,000, $70,000, $82,000, and $87,500. The final two prices were procured after staff requested each group provide their highest and best price. Beyond the annual lease revenue of $87,500, escalating annually at 3%, the proposed lease includes the following provisions:  Public service announcements minimum of 5 hours/month/face  City and Community Events  Amber alerts  FBI alerts  Severe weather warnings  Emergency management requests  20 year term  Architectural column with City Logo (to be paid for by lease) Community Assets and Development Director Schlichting commented Clear Channel plans to construct a 75-foot high structure with two 14’ x 48’ digital displays. The time between flips will be 8 seconds with static messages only. Prior to constructing Clear Channel will need to do soil borings, and a view shed analysis. Clear Channel will then procure permits from MnDOT and the City for construction. It is likely that this process will include requests for tree trimming or removal in and around the billboard. The City Attorney’s office drafted the lease 2. Consideration of Billboard Lease at 400 10th Street NW.