Port Moody residents will get a chance to review the city’s proposal to permit two digital billboards to be erected on public property along busy commuter routes.
At its meeting Oct. 8, council passed three readings of bylaw amendments that would allow the signs to be erected along the Barnet Highway, at the site of the city’s old landfill, and where the Barnet meets Ioco Road.
But before a deal is finalized with the signs’ proponent, Pattison Outdoor Advertising, and the bylaw amendments formally adopted, residents will be able to see the proposed designs for the 10-foot high by 35-foot wide signs and provide feedback on their suitability.
Kim Law, Port Moody’s manager of product delivery services, told council after staff identified the potential to raise revenue from such signs, and a consultant agreed, the city entered into negotiations with several advertising companies that could erect and manage them.
Law said under the terms of the contract with Pattison, the city could realize up to $30 million from the signs over the next 25 years.
Coun. Hunter Madsen said the revenue potential is “very compelling,” especially as residents look for relief from paying ever-increasing taxes.
But, he cautioned, the signs could be an unwelcome addition to the city’s landscape.
“Part of the quality of life in a community is not to be pestered at every corner by advertising,” he said.
Law said after an initial signing bonus of $300,000 for each sign, the city would then earn the greater of a guaranteed minimum annual average of $377,000, or 45% of ad revenue generated by the billboards.
Pattison Advertising estimates that could amount to more than $590,000 a year for each sign.
Law added the city could use 10% of the available advertising time slots free of charge to promote city and community events, city notices and construction advisories. He estimated that would be worth about $180,000 for each billboard. Emergency messages and amber alerts would also be displayed free of charge and city businesses would receive a 20% discount to advertise on the signs.
Coun. Zoe Royer said while the money would be welcome, erecting the signs would be “a big step for our community.”
Last May, Coquitlam council voted not to allow similar electronic billboards on city property and along Highway 1, after 73% of 1,159 residents who responded to an online survey said they opposed such signs, citing visual clutter.
But electronic billboards have become part of the cityscape in several other communities, including Port Coquitlam, Pitt Meadows, Surrey and New Westminster.
Since 2013, Port Coquitlam has earned $6 million in revenue from digital billboards in that community. New Westminster anticipated earning $25 million from that city’s 20-year agreement to allow All Vision Canada to erect four double-sided billboards along high-traffic areas like the south end of the Pattullo Bridge and Brunette Avenue at Highway 1 in 2012.
Port Moody also has a revenue sharing agreement with the operators of the Boathouse Restaurant in Rocky Point Park. Since it opened in 2008, the city has realized more than $636,000 from its 3.5% cut of gross sales and $1.774 million in total revenue including the lease on the land, utilities and property taxes.
