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Palos Park manager presents negotiated Verizon lease terms; council approves sending addendum for attorney review
Summary
Village Manager Behm summarized months of negotiations with Verizon over a cell-site lease at 12150 South Wolf Road and presented staff-recommended retention terms (staff said $5,000/month beginning 11/01/2031 with 15% escalators every five years); council approved sending the Verizon-prepared addendum to the village attorney for review.
Village Manager Behm told the Palos Park Council on Aug. 25 that negotiations with Verizon Wireless over the village’s cell-site lease had produced terms staff recommends the village accept and return to the village attorney for review.
Behm said Verizon’s existing lease for the monopole at 12150 South Wolf Road currently pays $4,761 per month and runs through Oct. 31, 2031. After rejecting an earlier Verizon proposal that would…
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