Board approves first amendment to Sprint Spectrum Realty site agreement on water utility property

The East Troy Village Board approved a first amendment to the site agreement with Sprint Spectrum Realty Company LLC covering a communications site located on village water utility property.

The agreement as amended will continue through an initial term that expires Oct. 7, 2027, followed by renewal options. Under the amendment, rent for the site is set at $7,871 per year for the period described in the agreement through 2027, increases to $8,625.12 in 2028, and thereafter will escalate 4% annually, the board was told. The amendment also updated a notice period for a tax-related modification from 15 to 30 days.

Eileen, a village staff member who presented the item, told trustees the draft before the board matched the version reviewed on Nov. 18 and that the village attorney had reviewed and cleared the tax-section change. The attorney who reviewed the agreement was identified in the meeting as Attorney Potter and was reported to be satisfied with the document.

Board members confirmed the revenue from the site is posted to the village water utility fund because the communications equipment sits on water utility property and the agreement includes an extended-period structure: multiple five-year renewal terms followed by a set of nine one-year extension options.

A motion to approve the first amendment passed without recorded opposition.

The board did not specify the exact vote tally on the record. The agreement documentation on file with the village shows the new rent amounts and the timing of escalators; additional financial details were not provided during the discussion.