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St. Paul council agrees to extend tower lease pending drafted amendment from American Towers
Summary
The St. Paul City Council voted 4-0 Dec. 15 to move forward with extending its lease with American Towers LLC and requested a red-lined amendment that would add seven five-year renewal terms, raise future revenue shares by 20%, allow up to 800 sq ft of additional tower use, add a gate, and include a limited ROFR; final approval remains subject to a future council vote.
The St. Paul City Council voted unanimously on Dec. 15 to proceed with an amendment to its agreement with American Towers LLC that would extend the lease and add several new provisions.
During a telephone conference with Shannon Walsh of American Towers, council members discussed five proposed changes: seven additional five-year renewal terms; a 20% increase to future revenue shares; up to 800 square feet of additional space for American Towers use; installation of a gate or fence for exclusive access to the tower property; and a limited right-of-first-refusal. Council member Mark Wilson moved to extend the current agreement with those listed amendments; Council member Jerry Woodgate seconded and the motion passed 4-0.
Mayor Mike Feeken noted the city's current rent and escalation schedule will continue throughout any extension. Shannon Walsh told the council American Towers will draft a red-lined version of the amendment for the city's review; the minutes state that approval of the final amendment will be subject to a future City Council vote.
The council'approved motion advances negotiations but does not represent final contractual approval. The amendment's financial and operational details will be finalized when the company submits the red-lined language and the council considers the final document at a later meeting.
