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District recommends 20-year Verizon cell-tower extension with $30,000 signing bonus
Summary
District staff recommended extending the High School East cell-tower lease with Verizon, which would pay a $30,000 signing bonus, allow up to 20 years of five-year renewal blocks, raise rents annually by CPI up to 3%, and preserve 35% colocator revenue sharing; legal counsel said it meets requirements.
The district recommended extending the Verizon Wireless lease at High School East, offering a $30,000 signing bonus and contractual provisions that would allow up to 20 years of renewals in five-year blocks.
District staff said the new agreement would raise rents annually by the consumer price index up to 3% (capped at 3%), and would continue to permit colocations, with the district receiving 35% of colocator revenue. Administration presented month-to-date rental and sponsorship revenue totals of $119,700 and year-to-date totals of $588,484 as context for ongoing leasing activity.
From a legal perspective, counsel concurred with the administration’s approach and said the revised rent schedule would generate revenue faster than the current contract, which adjusts every five years. Counsel noted the district had sought Department of Education input earlier in negotiations but was told by a deputy commissioner that the department does not routinely review these agreements and typically requests a copy after execution.
The recommendation was offered for board consideration; no final decision on execution was recorded in committee discussion.
