Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Lease Agreement Purpose: Authorize Entry into Sign Location Lease between the City of Newark and Outfront Media LLC Entity Name: Outfront Media LLC Entity Address: 185 US Highway 46, Fairfield, New Jersey 07004 Lease Amount: $ 21,600.00 per year and $105,000.00 in back rent Contract Period: To commence January 1, 2026 for an initial five-year term with annual renewal for successive five-year periods. Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a (Existing use on property acquired by the City) List of Property: (Address/Block/Lot/Ward) 15 South 14th Street/Block 1899/Lot 6/West Ward Additional Information: When the City acquired Block 1899, Lot 6, Outfront Media LLC was already operating an advertising sign on the property pursuant to an existing lease agreement with the prior owner, dating back to April 19, 2000.