The Daily Gazette reports that Lamar has sued Schenectady County, New York for $50,000 in compensation after the county terminated a billboard lease as part of a road widening project.  The County offered Lamar $25,000 for the billboard when it purchased the property.  Lamar countered at $82,638 and asked for the county to pay the costs of the relocation of the billboard.  The County then notified Lamar it was terminating the billboard lease under a 30 day notice clause.

Insider’s take: The case will hinge on the terms of the lease.  If it’s a good long term lease and Lamar has been in compliance, the county will be on the hook for damages.  The article mentions that the lease was originally written with a railroad.  Insider hates railroad leases because many railroad leases have a 3o day termination clause.  If the lease gives either party the option to terminate on 30 day notice then Lamar will have a hard time prevailing.

Paid Ad