By Katie Brace

BOSTON (CBS) – A deal has been reached to keep Boston’s iconic Citgo sign right where it is in Kenmore Square.

“To see that go would have been sad. You can always tell how close you are getting to the city to see that sign,” said Boston resident Tony Arena.

The Citgo sign beacon was in jeopardy until a new deal announced Wednesday.

“It’s a landmark. It’s a sign of Boston,” said Arena.

The sign welcomes Boston Marathon runners to the finish; it signifies a home run at Fenway; and represents Boston to many.

“It’s part of the neighborhood,” said resident Marcy Wells.

After more than 50 years, the sign may be part of the city, but it’s not an official landmark. Its survival is dependent on the Citgo Corporation and building owner agreeing on a leasing deal.

When a new owner bought the building from Boston University last year, a deal was not a given.

“I would miss it,” said resident Jay Bladon.

The owner of 660 Beacon Street, Related Beal, and Citgo finally reached an agreement. The companies will not specify details only saying, “the sign will remain in place for decades,” and “will continue to shine brightly for years to come.”

“I can see it from far away, so I was kind of happy they made that decision,” said Wells.

This is not the first time the sign was in jeopardy. In the early 1980’s, Citgo was going to remove it, but public outcry won.

“Before the days of GPS you could always figure out where you were in the city from the Citgo sign,” said resident Heather Ward.

Visitors and residents can once again count the Citgo Sign as a way to guide them through Boston.

“I’m glad it’s staying. It’s a huge landmark. I always look up at it. It makes me happy,” said Bladon.

Recently another effort began to make the Citgo sign a landmark. The Boston Preservation Alliance tells me they will continue to push for landmark status.

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