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District staff recommend extending Verizon cell-tower lease with $30,000 signing bonus and CPI increases
Summary
Staff recommended a Verizon Wireless lease extension at High School East that would include a $30,000 signing bonus, extensions through 2052 in five‑year blocks, annual CPI rent increases up to 3%, and continued colocation revenue sharing (district to receive 35%).
District staff recommended approving a lease extension with Verizon Wireless at High School East that would provide a $30,000 signing bonus and successive five-year extension options extending the contract through 2052. "What's being recommended is, Verizon Wireless, would be paying us a $30,000 signing bonus, to have basically an additional 20 years of 5 year blocks of extensions through 2052," Speaker 4 said, describing annual CPI adjustments to rent (capped at 3%) and continued colocation revenue sharing where the district receives 35% of additional tenant revenue. Legal counsel (Speaker 5) said the district negotiated repeatedly and that the state Department of Education does not perform pre-approval reviews for this type of lease; counsel recommended proceeding from a legal perspective.
