Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Telecom Easement topic
No spam. Unsubscribe anytime.
Two bidders press rival offers for Harbor Island Park tower easement; trustees defer decision
Summary
John Arthur of Wireless Edge said his company offered $1.8 million and completed expedited due diligence; Wireless PropCo representatives said they are ready to close. Trustees asked for documents and later removed the wireless easement item from the consent agenda for further discussion.
John Arthur, president and owner of Wireless Edge, told trustees his company returned with an $1,800,000 offer to purchase the Harbor Island Park tower easement and had expedited due diligence, including title and environmental reports, because the village wanted not to delay the transaction. Arthur said Wireless Edge would accept transactional documents identical to a rival buyer’s contract, differing only in price.
Trustees asked whether Wireless Edge’s reports had been shared with the village and committee; Arthur said the reports had been completed and he would provide them but noted those documents can be hundreds of pages. Board members questioned the relationship of that proposal to a separate Fenimore site transaction; Arthur said the Fenimore transfer had been concluded earlier in the year and that Wireless Edge still operates the Fenimore site as a lessee.
Representatives for Wireless PropCo, including Anthony Tabaccino of Symphony Towers, attended and told the board they had completed due diligence and were prepared to close immediately if the board approved their offer. Trustees and members of the public pressed for a memorandum justifying price differences between the offers and for more documentation before voting.
Later in the meeting trustees agreed to pull the wireless easement item off the consent agenda for further discussion and possible executive-session review; the item was not approved at this meeting.
