SUBJECT
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Approve Lease Agreement between Polk County and Outdoor Media, Inc. d/b/a Lakeland Outdoor Advertising in conjunction with an existing billboard on County owned property, Lyonal Drive. ($6,000 annual revenue)
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DESCRIPTION
It was recently discovered that a billboard was located within county-owned right-of-way associated a roadway known as Lyonal Drive. Lyonal Drive is a county-maintained roadway running west off of Combee Road in the Lakeland area. The right-of-way, as conveyed to the County in 1970, extends from Combee Road to the railroad; however, the roadway itself terminates approximately 140-feet before the railroad right-of-way. Additional research revealed that the billboard was constructed around 1992 and permitted by FDOT in 1998 and it appears to have been incorrectly attributed to the property to the south. The owner of the billboard, Outdoor Media, Inc. d/b/a Lakeland Outdoor Advertising ("Lakeland Outdoor") contacted the County regarding the sign location and requested a new lease agreement for its continued use of the property. Negotiations with Lakeland Outdoor have resulted in a proposed Lease Agreement over a portion of the right-of-way, which is not being utilized for the roadway, for a term of ten years beginning March 1, 2025 with an initial annual lease rate of $6,000 with increases of $1,200 every five years.
The County Attorney's Office and the Right-of-Way and Real Estate Services Director have reviewed the Lease Agreement and recommend approval. Approving the Lease Agreement will allow Lamar to continue to operate the billboard located on the right-of-way property and will allow the County to generate revenue.
RECOMMENDATION
Request Board approve the aforementioned Lease Agreement.
FISCAL IMPACT
Proceeds from the rental payments associated with the aforementioned lease agreement to be deposited into the appropriate fund, to be determined by Finance and Accounting.
CONTACT INFORMATION
R. Wade Allen, Direct...
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