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CITY of RAPID CITY Agenda Item Summary |
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Meeting Date: 3/2/2016 |
Commission, Board or Committee: N/A |
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Staff Contact: Joel Landeen, City Attorney |
PW Committee or L&F Committee: Legal & Finance |
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Petitioner: N/A |
City Council 1st Reading: N/A |
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Location: N/A |
City Council 2nd Reading: N/A |
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Agenda Title: |
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SETTLEMENT AGREEMENT BETWEEN THE CITY OF RAPID CITY, LAMAR ADVERTISING OF SOUTH DAKOTA L.L.C., AND TLC PROPERTIES, INC., D/B/A LAMAR TLC PROPERTIES, INC. |
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Summary: |
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See attached memo. |
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Funding Source & Fiscal Impact (if applicable): |
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The City will pay $25,000 of the settlement amount. The balance will be paid by the City’s insurer. The City’s portion will be paid out of the 968 General Liability Funds. The balance in this fund at the end of January was $1.5 million. |
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Recommendation: |
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Action: Approve Notes: |
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Options: |
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Approve: The two lawsuits with Lamar will be dismissed and staff will bring forward the ordinance amendments identified in the agreement. Deny: The two lawsuits will continue. |
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Attachments & Links: |
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