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Jerseyville approves AT&T option and land lease for 200 S. Washington; option set at $1,000/month
Summary
The council approved an option and land lease agreement with AT&T for 200 South Washington St.; City Attorney William Strang said AT&T must pay the option up front and has two years to execute a lease, with a potential 90-year term and 2% annual increases.
The Jerseyville City Council voted unanimously April 29 to approve an option and land lease agreement with AT&T for property at 200 South Washington Street. City Attorney William Strang explained the arrangement is an option lease requiring an upfront payment and giving AT&T two years to execute a full lease; the option payment is $1,000 per month with a 2% increase each year and the lease period could extend up to 90 years.
The motion to approve was made by Commissioner John Miles and seconded by Commissioner Steve Pohlman; roll call showed all present voting aye. The council did not record additional public comment on the lease during the meeting; the agreement will proceed through the city’s standard execution and review steps.
