Insider wrote last week that Fresno was considering modifications to digital sign rules.  The Fresno Bee reports that Outfront is negotiating with City Manager Bruce Rudd to lease five sites from the city for digital signs.  The proposed sites are:

▪ The western edge of Woodward Park overlooking Highway 41 in north Fresno.

▪ The northern edge of Al Radka Park, overlooking Highway 180 near Fowler Avenue in southeast Fresno.

▪ The future right of way of Veterans Boulevard overlooking Highway 99 south of Herndon Avenue in northwest Fresno.

▪ Two sites at the city’s corporation yard at the junction of Highways 99 and 180 – one overlooking Highway 99, the other overlooking Highway 180.

Outfront is offering a one time signing bonus of $325,000 plus annual lease payments equal to $378,000 or a percentage of gross proceeds in exchange for a 20 year lease.  In addition, Outfront will remove fourty-seven static 12 by 25 billboards and three 14 by 48 static billboards in exchange for the right to put up 5 new digital signs.

Terms of the transaction will probably be presented to the city council for approval in June.

Insider’s take: A win-win.  Outfront gets the chance to increase revenues by digital signs in better locations.  Fresno gets money to fund social services and a new reduction in billboards.

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