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Board approves 25-year amendment to cell-tower ground lease with T‑Mobile; $18.50 monthly payment with 15% increases every five years
Summary
The board approved a first amendment extending the ground lease with T‑Mobile Central LLC for 25 years; district staff said the arrangement provides a steady revenue stream and must be board‑approved because it exceeds the state's $1,000 threshold for contracts generating revenue.
The Board of Education on July 28 approved a first amendment to the ground lease with T‑Mobile Central LLC extending the district’s cell‑tower lease for 25 years. District staff said the amendment sets the monthly payment at $18.50 and includes 15% rent increases every five years.
Why it matters: The tower lease is a…
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