HomeMy WebLinkAboutIR 8868INFORMAL REPORT TO CITY COUNCIL MEMBERS
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Ta To the Mayor and Members of the City Council August 21, 2007
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SUBJECT: PROPOSED SETTLEMENT AGREEMENT WITH CLEAR CHANNEL
„n REGARDING A BILLBOARD IN THE EVANS AND ROSEDALE
AREA
On June 5, 2007, the City Council authorized a Purchase Agreement with Cypress Equities
(Cypress) for the sale of City owned property in the Evans and Rosedale Project Area (M &C L- 14331).
The Evans and Rosedale Project boundaries are: Lueda Street to the North, Evans Avenue to the East,
Rosedale to the South and Interstate 35W to the West.
The Purchase Agreement provides that, in order for Cypress to close on the property, the billboard
located at 1037 Rosedale Street (Rosedale sign) owned by Clear Channel Outdoors, Inc., (Clear Channel)
be removed from the Project Boundary.
City staff held discussions with Clear Channel regarding the removal of the Rosedale sign within
the Evans and Rosedale Project Boundary. In order to avoid litigation, staff has negotiated a proposed
Settlement Agreement with Clear Channel to relocate the Rosedale Sign from the Project Area. The
terms of the Agreement are as follows:
• Clear Channel will remove the Rosedale sign within 30 days of receiving a demolition permit
from the City.
• Clear Channel will submit building plans for a sign to be erected at 7300 South Freeway (I -35
sign).
• So long as the construction plans are in compliance with the City's rules and regulations, the City
shall issue a construction and a sign permit for the I -35 sign.
• The I -35 sign will be installed within 90 days of removing the Rosedale sign.
• Clear Channel will pay all relocation costs for the I -35 sign and removal costs for the Rosedale
sign.
An M &C for Council consideration of the proposed Settlement Agreement with Clear Channel will be
presented to Council within the next few weeks.
Charles R. Boswell
City Manager
ISSUED BY THE CITY MANAGER
FORT WORTH, TEXAS