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Selectboard weighs Verizon proposal to lower rent or take lump-sum payout for town tower
Summary
Board members discussed a proposal from Verizon to reduce monthly rent starting in 2028 or to pay a lump sum of $281,000 for a perpetual easement on the town's tower. No action was taken; members raised concerns about perpetual easements, annual escalators, assignment rights and the tradeoff between cash today and ongoing revenue.
Rangely Selectboard members discussed a lease proposal from Verizon that offered either a lower monthly rent beginning in 2028 or a lump-sum payment of $281,000 for a long-term/perpetual easement. Staff presented the options and solicited direction on whether to pursue negotiations or schedule an executive session for negotiation advice.
Staff said Verizon's proposal reflects industry changes as carriers adapt to smaller-cell 5G deployments and that Verizon is offering a reduced monthly payment in exchange for a long-term agreement; an alternative would be a one-time payment. One staff member noted the current annual rent under the existing agreement runs through 2028.
Selectboard members emphasized negotiating annual escalators tied to CPI rather than infrequent larger step increases, and asked for clear assignment and maintenance provisions so the town retains control if the lease or tower changes hands. One member said, "I have no interest in giving a perpetual easement on our property," expressing concern about permanent assignments that might limit future options.
No formal vote was taken; staff was asked to gather more information and, if the board wishes to negotiate, the board may consider executive session to discuss negotiation strategy.
