The Lamar Advertising Company currently pays an annual rental rate at $5,250.00 for the billboard site located on Interchange Court, east side of I-516, 0.2 miles north of I-16, Parcel I.D. 2-0597-01-001. The existing lease expired August 31, 2010 and has automatically renewed since then, in accordance with lease terms.

The Tenant has agreed to an increased annual base rent amount at $6,000.00, or 30% of the annual net revenue as derived from the advertising display face(s), whichever amount is greater.

The Tenant has been informed and further agrees that an early lease termination may occur during the next 5 years. The lease agreement includes a 60-day termination notice, which may be exercised by either party at any time.  

The proposed lease renewal has been reviewed by Development Services, the Bureau of Public Works and Water Resources, and Real Property Services. The following condition(s) and response(s) are noted:

• Lease can be terminated at any time, by either party, with 60 days advanced written notice.
• Lamar Advertising Company shall receive charges for any expenses the City may incur for removal of any equipment not removed should a termination notice occur.
• In accordance with the City of Savannah Zoning Ordinance, the billboard is currently in the I-H Zoning District with a double sign face oriented toward both the northbound and southbound traffic on I-516, which is considered a restricted roadway and an interstate highway. The billboard is considered non-conforming as the distance between the sign to the Ogeechee Road on-ramp appears to be less than 400 feet, whereas, after the origination of this lease, the Zoning Ordinance requires a minimum distance of 500 feet.

Approval