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Council approves terms to negotiate second amendment to tower lease with T-Mobile
Summary
The council approved terms outlined for a second amendment to the village cellular tower lease with T-Mobile, including carry-forward of current rent through the first term starting June 23, 2030, and 15% increases each five-year term thereafter for up to 25 years.
Palos Park councilors on Oct. 13 approved the terms presented for a second amendment to the lease for the village-owned tower at 12250 South Wolf Road with T-Mobile Central LLC.
Village management said T-Mobile proposed that the first term of the forthcoming lease (starting June 23, 2030) carry forward the current monthly rent of $3,017.04 (annualized at $36,204.48); thereafter rent would increase by 15% for each five-year term, and the agreement could continue for up to 25 years. The village would retain the option to cancel the lease by providing at least six months' notice before the expiration of any lease term. Staff said a formal document will be prepared for final council approval if the council endorses the general outline.
Commissioner Reed moved, with a second, to approve the terms contained in the second amendment to the tower lease with T-Mobile Central LLC; the motion passed on a roll-call vote with recorded yes responses from Commissioner Reed, Commissioner Wade and Mayor Milovich Walters.
