Finance committee to refer American Tower lease extension to full council

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 that American Tower was willing to grant us [includes] a 3% escalation clause with a $25,000 signing bonus," Prenov said. He described the combined value as "several $100,000 more to the village" across the extended term than comparable offers the village received from other firms.

The committee discussed alternatives. Prenov told the committee that other firms had offered larger up-front lump sums but would have required permanent easements that could limit village control of the site. He said some firms often re-sell contracts back to American Tower, and that American Tower's proposal appeared competitive in long-term value.

Committee members asked about tenants on the tower. Prenov said American Tower informed the village that Verizon is the current tenant and that additional tenants could be added behind the tower's security fence under the proposed contract. Prenov described an additional payment to the village tied to new tenants: "It's $300 increase per tenant per month," he said, after correcting an earlier statement.

Committee members also requested language preventing encroachment on park property. Prenov said Deputy Solicitor Butler sought and agreed to contract language that would limit expansion to areas behind the existing fence and would prevent expansion eastward into the park.

Committeemembers discussed using some or all of the signing bonus to finish a long-planned walking path in the park. Prenov said he had pressed for concessions or improvements during negotiation but that American Tower did not agree to non-monetary park improvements in the current offer.

After discussion, a motion to refer the lease extension to full council for final consideration was moved and seconded; the committee voted in favor. The committee also asked staff to provide a clearer scanned copy of the contract for review by full council.

The committee did not take final action on the lease itself; it only voted to send the matter to the full council for final approval.