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Fair Board declines lump-sum sale offer for Verizon tower, keeps monthly lease revenue
Summary
After reviewing a proposal to sell the Verizon cell-tower lease for a lump‑sum payment, the Fair Board voted to continue receiving the existing monthly payment rather than cashing out the lease.
Board members revisited a prior discussion about whether to accept a lump-sum purchase offer for the Verizon cell-tower lease. The board had earlier asked for time to consider the long-term implications, including technology changes and the risk that cell sites may be less valuable in future years.
Why it matters: Selling a tower lease for a lump sum converts future recurring revenue into immediate funds but eliminates future payments and risks locking the county into an irreversible decision if technology or market conditions shift.
Outcome: A board member moved to continue receiving the current monthly payment (described by staff as $1,684 per month) through the end of the lease rather than accept a one‑time buyout. The motion was seconded and passed by voice vote. The board asked staff to remove the sale option from future agendas unless new information justifies reconsideration.
Ending: The board will continue to receive the recurring monthly revenue from the Verizon tower under the current contract and declined a lump-sum sale at this time.
