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Hoyt Lakes approves Verizon land-lease for new cell installation, secures $10,200 annual rent
Summary
Council approved a five-year land-lease with Verizon for a cell installation adjacent to an existing tower; the deal sets annual rent at $10,200 with a 2% annual escalator and includes environmental/site review notes.
Councilors reviewed and approved a proposed Verizon land-lease that would allow installation of a cell facility near an existing tower outside of town. Staff said the parties countered to an agreed monthly rent of $850, producing $10,200 in annual revenue with a 2% annual increase for the five-year term. The city attorney and staff reported an environmental/site survey had been completed and legal review identified standard title-language to monitor in future deals.
Councilor Jarvala moved to approve the agreement and Councilor Ecman seconded. The council voted and the motion carried.
Mayor Scott and staff noted the income will flow to the general fund and the fee structure mirrors treatment of other communications fees; staff said final signatures and prorating arrangements would be handled when the agreement is executed.
