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Page 6 of 7 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org <br />The City Council would retain final approval authority over the proposed digital billboard at 350 <br />Convention Way. Staff estimates that it could take up to nine months to complete the necessary work <br />before returning to the City Council for further consideration. <br />EQUITY IMPACT STATEMENT <br />The digital billboard location recommended by staff is not part of an equity priority area and is not <br />adjacent to a residential development that could be negatively impacted by the presence of a billboard. <br />FISCAL IMPACT <br />If the City Council ultimately approved an agreement with OF/I with terms similar to its proposal, and the <br />digital billboard is eventually erected, the agreement would generate a one-time payment of $100,0001 <br />in lieu of removing existing static billboards and an annual payment calculated at the higher of either <br />$250,000 or 30% of annual revenue, if that figure is higher than $250,000. Proceeds from the agreement <br />would be deposited in the General Fund. Negotiations and additional tasks to effectuate the agreement, <br />such as bringing changes to the Sign Ordinance, will take staff time and require a preliminary CEQA <br />analysis that may be done in-house or contracted out. The billboard company would bear the full cost of <br />a CEQA analysis, permitting and construction. <br />ENVIRONMENTAL REVIEW <br />The City Council’s action to direct staff to revise the Sign Ordinance and negotiate with O/FI is not a project <br />under CEQA as defined in CEQA Guidelines Section 15378 because it is an administrative action and not a <br />“project” that could directly or indirectly impact the environment. However, if staff successfully negotiate <br />an agreement, appropriate CEQA review would be required for its approval and/or to proceed with <br />changes to the sign ordinance and the placement of the billboard. <br />PUBLIC NOTICE <br />Public notification was achieved by posting the agenda, with the agenda items being listed, at least 72 <br />hours prior to the meeting. <br />ALTERNATIVES <br />1. Direct staff to negotiate with a different respondent and/or bring changes to the Sign Ordinance <br />back to the City Council. <br />1 It is staff’s understanding that OF/I controls three existing static billboards in Redwood City. <br />8.B. - Page 6 of 8 <br />441