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W A T E R E N E R G Y L I F E RIVERSIDE PUBLIC UTILITIES P UB LIC UTILITIES Board Memorandum BOARD OF PUBLIC UTILITIES DATE: JUNE 12, 2023 SUBJECT: FIRST AMENDMENT TO LICENSE AGREEMENT FOR USE OF 10 ACRES OF PELLISSIER RANCH WITH CITICASTERS CO., TO EXTEND THE TERM BY 18 MONTHS TO MAY 30, 2026 ISSUE: Recommend that the City Council approve the First Amendment to License Agreement for use of 10 acres of Pellissier Ranch with Citicasters Co., to extend the term by 18 months to May 30, 2026. RECOMMENDATIONS: That the Board of Public Utilities recommend that the City Council: 1. Approve the First Amendment to License Agreement for use of 10 acres of Pellissier Ranch with Citicasters Co., to extend the term by 18 months to May 30, 2026; and 2. Authorize the City Manager, or designee, to execute the First Amendment, including making minor non -substantive changes, and to sign all documents necessary to complete the transaction. BACKGROUND: On December 1, 1994, the City of Riverside (City) entered into a 20 -year lease with Hispanic Radio Broadcasters, owner of radio station KDIF, for the construction and operation of a radio broadcasting tower/facility on ten acres of land within Pellissier Ranch (located in San Bernardino County, bearing Assessor's Parcel Number 0277-022-75). Hispanic Radio Broadcasters sold the radio station to Jacor Communications, Inc./Citicasters Co. On August 11, 1998, the City Council (Council) approved an assignment of the lease with Hispanic Radio Broadcasters to Citicasters Co. with all terms remaining the same. On July 8, 2014, Council approved a First Amendment to Lease with Citicasters Co. to extend the lease an additional five years, to November 30, 2019, and to increase the rent to $1,335 per month with an annual Consumer Price Index escalator. Additionally, the insurance requirements were revised to meet the City's standards. On April 10, 2017, the Board of Public Utilities voted to recommend establishing uniform rental rates for the issuance of canal license agreements. City Council approved this on May 9, 2017.