CC - Item 10F - Off-Site Free Standing Sign Lease Agreement for The Glendon HotelROSEMEAD CITY COUNCIL
STAFF REPORT
TO: THE HONORABLE MAYOR AND CITY COUNCIL
FROM: JEFF ALLRED, CITY MANAGER Aq
DATE: MARCH 22, 2011
SUBJECT: OFF -SITE FREE STANDING SIGN LEASE AGREEMENT FOR THE
GLENDON HOTEL
BACKGROUND
On February 22, 2011, the Rosemead Community Development Commission approved
of an agreement for the sale of the Glendon Hotel to the Qiao Garden Group Real
Estate Company, Ltd. .(Qiao Garden Group). As a result of that transaction, the
Commission will be paid a total of $3:8 million. In addition, the Qiao Garden Group
plans to renovate the hotel into an upscale facility that will generate increased Transient
Occupancy Tax (TOT) revenues to the City. Due to the proximity of the hotel to the
Interstate 10 (1 -10) freeway, the Qiao Garden Group has requested to erect an off -site
free standing sign in the public right -of -way next to the 1 -10 off of Ivar Avenue and Olney
Street.
Staff Recommendation
It is recommended that the City Council authorize staff to develop a lease agreement, to
be brought back at a later date for approval, with the Qiao Garden Group that would
allow them to erect an off -site free standing sign in the public right -of -way next to the I-
10 off of Ivar Avenue and Olney Street.
ANALYSIS
The Commission has been working with the Qiao Garden Group for the sale of the
Glendon Hotel over the last year. Both parties have recently resolved all matters
dealing with the purchase and are in the process of opening escrow. During
negotiations with the Qiao Garden Group, they expressed their desire to have an on -site
free standing sign next to the 1 -10 that would allow for increased visibility and
patronage of the hotel. The sign will provide for identification of the City of Rosemead
and the hotel. The agreement would include such things as the terms of the lease,
annual lease payment, maintenance, and so forth. The agreement would be brought
back to the City Council for approval once all the terms had been agreed to by both
parties.
ITEM NO. p -_
APPROVED FOR CITY COUNCIL AGENDA:
City Council Report
March 22, 2011
Page 2 of 2
PUBLIC NOTICE PROCESS
This item has been noticed according to the California Health and Safety Code Section
33490.
Prepared by:
Michelle G. Ramirez
Community Development Manager