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Board approves Verizon addendums for Montross and Nashtown towers with 15% rent increases
Summary
The board approved two addendums extending Verizon leases at Montross and Nashtown for four additional five‑year terms starting Jan. 1, 2025, with a 15% rent increase at the first term start and at each subsequent five‑year renewal.
County staff presented two addendums from Verizon seeking to extend leases at the Montross and Nashtown tower locations. Staff said Verizon requested four additional five‑year terms to begin Jan. 1, 2025, and agreed to a 15% rent increase effective 01/01/2025 and a subsequent 15% increase at the start of each five‑year renewal.
The addendums had been discussed previously and, after a short recap from staff, a supervisor moved to approve the agreements. The motion was seconded and the board voted in favor by roll‑call voice responses.
County staff said the addendums were the result of prior negotiations in which a smaller increase had been rejected by the board; the current terms were presented as the settled offer. The board did not expand the discussion beyond the rent terms, and staff characterized the documents as standard lease addendums that had been reviewed by counsel.
The board approved the addendums and directed staff to complete the administrative signatures and recordkeeping necessary to effect the renewals.
