Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Real Estate Revenue topic
No spam. Unsubscribe anytime.
Council OKs moving forward with lease amendment to place generator at Verizon tower site
Summary
Staff described a first amendment to a Cellco (Verizon) lease to enlarge premises by a 10x10 area for a backup generator; the change would increase lease revenue (noted by staff at roughly $2,000/month) and receipts will go into the general fund.
Councilors discussed a proposed first amendment to an option and lease agreement between the village and Cellco (Verizon) to expand a lease premises at a water-tank tower to accommodate a 10-by-10 emergency backup generator. Staff said the amendment increases the lease payment and estimated the site brings roughly $2,000 per month in rent.
"So I think they were both, negotiated about 2,000 a month for each one of them separate," staff said while describing negotiations over tower leases. A village councilor asked whether the revenue would be deposited into the general fund and staff confirmed that it would. Staff noted that any additional changes to the leased area that materially alter the footprint would require attorney review and possible renegotiation.
The item was handled by consent and staff will proceed with the contractual steps and attorney review as necessary before executing amendments.
