ELECTRONIC BILLBOARD in Toronto, Canada (Branded Cities).

Clearing the way for a potentially large new revenue source, the Westminster City Council on Wednesday approved an agreement to lease city-owned land adjacent to the San Diego (405) Freeway for the establishment of two large electronic billboards.

The council vote was 5-0 on the 30-year agreement with Branded Cities that could bring in as much as $63 million, with an annual guarantee of $825,000. The billboards would be located at Beach Boulevard and Edinger Boulevard and at the “old” Edwards Street.

That revenue would come as a welcome boost to the city treasury, which is annually running in the red and – at its current pace – would be totally depleted by 2027-28 if new sources of income were not found.

Once necessary permits are obtained, construction could begin with the estimated completion date of spring 2025.

At its previous meeting, the council voted 4-0 (with Councilmember Namquan Nguyen absent) to place a one-half cent sales tax measure on the ballot before Westminster voters in March.

Also on Wednesday, the council chose Councilmember Kimberly Ho as the new mayor pro tem. The vote was three to one with Councilmember Amy Phan West abstaining.