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Hudson Falls approves 99-year easement LOI for water-tower telecom site worth $900,400
Summary
The Hudson Falls Board of Trustees approved a letter of intent with MD7 (a Verizon affiliate) to acquire a permanent 99-year telecommunications easement on the village water tower for a lump-sum payment of $900,400; trustees said existing leases with Verizon and AT&T remain in effect.
The Hudson Falls Board of Trustees unanimously approved a letter of intent with MD7 (and affiliates) to acquire a permanent 99-year telecommunications easement at the village water tower at 53-57 Ferry Street.
Mayor John Barton told trustees the company offered a lump-sum payment of $900,400 and that existing lease terms with Verizon and AT&T would continue under certain parameters. "They will pay us a lump sum amount of $900,400," Barton said, adding that DPW staff had reviewed the proposal and supported moving forward with the agreement.
Trustee Daniel Hogan moved to approve the Letter of Intent; Trustee James Gallagher Jr. seconded, and the motion carried unanimously. The Board did not set a final closing date and described the action as approval of the LOI to pursue the easement rather than execution of a final contract.
