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Finance committee to refer American Tower lease extension to full council
Summary
Golf Manor Village finance committee voted to send a proposed 30-year extension of the village's cell-tower lease with American Tower to the full council after discussing payment terms, tenant rights and park encroachment language.
The Golf Manor Village Finance Committee on Jan. 14 voted to refer to full council a proposed extension of the village's agreement with American Tower that would extend the company's lease on village property for an additional 30 years.
The committee's discussion focused on financial terms and protections for village land. The committee heard a summary from committee member Eric Prenov, who said the property that hosts the tower is owned by the village while the tower infrastructure is under contract with American Tower.
Prenov said the company offered a signing bonus of $25,000 and a 3% annual escalation clause on monthly rent. "The competitive offer…
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