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Dolton approves sale of two cell-tower easements to Tower Point for $564,000 upfront
Summary
The Dolton Board of Trustees approved ordinances selling easement rights at two sites to Tower Point, a deal the village’s attorney said will deliver $564,000 within 30 days and roughly $1,666 monthly in rent.
The Dolton Board of Trustees approved two ordinances at its July 1 special meeting that authorize letters of intent to sell easement rights for cell towers to Tower Point, the village read into the record as Ordinance No. 25-003.
Attorney Alderson told the board the two sales will bring the village $564,000 within 30 days and provide about $1,666 (roughly $1,700) per month in rental income thereafter.
Mayor (unnamed) read the ordinances into the record as items B and C, which covered easement rights and leasing terms for sites at 401 East 140th Street and 14440 South Greenwood Road. Trustee Edward Steve moved to bundle and approve the two items; Trustee Belcher seconded. Clerk Key called the roll and all five trustees present voted aye; the ordinances passed.
Trustee Belcher described the sales as part of a broader effort to restore steady revenue to the village after several years during which Dolton “fell behind on handling the business,” saying the easement sales will create “steady income coming in forever because those towers can’t be moved.” Attorney Alderson quantified the immediate and recurring revenue and said the funds are the type of receipts the mayor and trustees have been pursuing to address short-term fiscal needs.
The board did not present a detailed line-item breakdown of how the $564,000 would be allocated in the municipal budget during the meeting. Trustees said the revenue will help the village address overdue bills and support operational needs while they pursue other revenue and cost-saving measures.
Motion and vote: Trustee Edward Steve moved to approve the two ordinances (items B and C) and Trustee Belcher seconded. Roll call votes recorded Tammy Brown, Britney Norwood, Stan Brown, Belcher and Edward Steve voting aye; motion passed.
The ordinances approve letters of intent and the sale of easement rights; specific contractual closing dates, terms and final payment schedules were not provided in the meeting record beyond Attorney Alderson’s statement on expected timing and monthly rent.
