September 25th, 2012

Portage school board approves 20-year billboards pact with Adams Outdoor Advertising

By Tom Haroldson
MLive

Sometime this school year four billboards will be popping up at three Portage Public Schools properties that over the next 20 years could earn the district nearly $3 million in revenue and free advertising.

The agreement with Adams Outdoor Advertising to build two billboards along I-94 at Portage Northern High School, one on I-94 at Angling Road Elementary School and one on U.S. 131 at 12th Street Elementary School was approved Monday night by the Portage school board.

The contract has had at least three different variations, with Monday’s final terms calling for the district to receive $84,000 a year in rent payments with a 10 percent inflationary increase every five years. The total will result in $1.95 million in revenue over the 20 years.

Read more: http://www.mlive.com/news/kalamazoo/index.ssf/2012/09/portage_schools_approve_20-yea.html

Comments

Add your own Comment

(optional)