BOSTON (CBS) — The Citgo sign is another step closer to becoming an official Boston landmark.

The Boston Landmarks Commission says the iconic illuminated sign in Kenmore Square should receive landmark status and all the protections that come with it.

The move would help protect the sign from future development projects, which is a concern to some local business leaders.

Earlier this year the commission released a 51-page report on the sign. It recommended making the sign itself a landmark, but not extending that status to the Beacon Street building it sits atop.

“The Citgo sign is one of the few remaining local examples of ‘spectacular’ lighting displays that represent a specific era in America’s cultural history,” the report states. “It is also ‘a key visual landmark on the Boston skyline.’”

In 2017, Citgo and the building owner reached an agreement that they said would keep the sign, built in 1965, in place for “decades.”

A landmark designation for the Citgo sign would ultimately have to be OK’d by the Boston City Council and Mayor Marty Walsh.