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EDTA recommends city decline $177,000 buyout offer for cell‑tower lease
Summary
Trustees reviewed a buyout offer from the tower lessee to purchase the remaining lease for about $177,000 and voted to recommend that city council not accept the offer, citing the longer‑term value of the existing lease payments and uncertainty about maintenance costs for adjacent parkland
Pryor Creek EDTA trustees recommended that the City Council reject an offer from the cell‑tower lessee to purchase the lease for approximately $177,000 and instead continue the existing lease arrangement.
The current tower lease, which began in 2016, started at $600 per month and escalates periodically; trustees said the 50‑year agreement’s total payments would amount to $573,744.18. To date the lessee has paid $67,680, leaving approximately $506,064.18 under the current 50‑year schedule, trustees said.
The lessee’s one‑time purchase offer of $177,000 would extend a new term for 99 years but would remove the lessee’s obligation to mow and maintain the nearby Hidden Park. Trustees noted that if the city assumed park maintenance, that would create an ongoing municipal cost; one trustee estimated mowing could cost roughly $500–$750 per month for the larger area outside the fence.
Board members expressed skepticism that the upfront $177,000 would compensate the city for future lease revenue and maintenance obligations. “I personally don't see how we can recommend to the city that they take that buyout offer,” one trustee said. After discussion, the EDTA moved and approved a recommendation to the City Council to decline the purchase offer and continue under current terms.
Trustees asked staff to record the recommendation for the council and to continue discussions if the lessee returns with a revised offer or better terms that address maintenance liability.
