Medina finance committee approves cell-tower lease amendment, advances, grants and multiple contracts

The Medina City Council finance committee on an administrative consent record approved an amendment to a cell-tower lease, rolled forward several interfund advances and budget amendments, accepted an increased municipal-court grant, authorized a body-worn camera grant application and cleared a series of engineering, easement and purchasing agreements.

The largest individual change was to the lease on a cell tower south of town. Mr. Hubert, staff member, said the amendment increases the monthly rent from $1,422 to $2,200, provides a $10,000 signing bonus, raises the annual rent escalation from 3% to 4% and entitles the city to 25% of rent collected from any subtenants. Committee members asked staff to add language preventing the tower owner from increasing the tower height; Mr. Hubert said staff would request that change before final legal review.

The committee also approved several routine financial items. Keith, staff member, reported that general-fund advances outstanding will total about $11,600,000 after the items approved at the meeting and explained that auditors require the council to roll individual advances annually to show intent to repay. The committee approved rollover and new advance requests tied to the TIF fund and multiple grant-funded projects.

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