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Council tables vote on cell‑tower lease assignment, asks for full lease and revenue details
Summary
Councilors deferred consideration of a lease assignment for a cell tower behind Fire Station 1 after questions about current payments, escalators and the correct monthly rent figure; the item was tabled pending a full lease and revenue documentation.
The Smithfield Town Council tabled action June 16 on a proposed lease assignment to Vertical Bridge RET LLC for a cell tower located behind Fire Station 1, citing questions about the lease terms and current monthly payments.
Council members asked whether the lease as presented reflected the current rent (the packet showed $270 per month but the town is reportedly receiving $2,070 monthly). Councilors also requested clarity about escalation clauses and whether other carriers could attach to the tower and increase revenue.
Council member (speaker 5) moved to table the item until staff could provide the full, current lease and documentation of monthly revenue; the motion passed. Councilors said they want to ensure the town is receiving a fair market rate for the asset before approving an assignment.
Next steps: staff will bring the current lease, payment history and proposed assignment documentation back to a future meeting for council review.
