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Council accepts $170,000 buyout from Tower Alliance and will set funds aside
Summary
The council accepted Tower Alliance’s $170,000 buyout offer for a tower lease, ending future monthly lease payments; members agreed to place the proceeds in a separate account for future projects.
The Ainsworth City Council voted unanimously to accept a $170,000 buyout offer from Tower Alliance to end the town’s perpetual lease arrangement for a communications tower.
Council discussion noted the existing lease yields $780.35 per month and includes a 3% annual escalator; staff indicated the lease escalation and term mean the monthly payments may take many years to equal a lump-sum buyout. A council member said the buyout could be placed into a separate account and used as seed money for future projects or grants.
After brief remarks weighing a continuing revenue stream against a guaranteed lump sum, a motion to accept the $170,000 buyout and deposit the money in a separate account for future projects passed on a unanimous roll call.
The council did not set a specific spending plan for those funds but directed staff to segregate the proceeds. No amendment to the land lease provisions was recorded at the meeting; staff explained the perpetual lease is tied to the physical tower and decommissioning or replacement would be handled under the lease terms.
