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Background: <br />In 1998 the City leased to Pagemart Wireless Inc. a 50 square feet of space within the base of the <br />City's water tower on Dysprosium Street (City Water Tower No. 1). The lease also includes <br />space on the tower itself for the antenna. The antenna use is for pager signals and not cell <br />phones. The lease will expire on December 31, 2008. Pagemart's successor, USA Mobility, <br />would like to, renew the lease for a five (5) year term with an additional five year option. The <br />current rent required by the existing lease is $1,304.77/mo. Staff recommends extending the <br />lease as above described with rent at $1,350.00 /mo increased by three percent (3 %) annually as <br />with the existing lease. <br />Recommendation: <br />Extend lease as above described. <br />Funding Source: <br />None required <br />Council Action: <br />Motion to enter into a Site Lease with USA Mobility with those terms as the existing lease for <br />space at the Dysprosium Street Water Tower. Rent to increase to $1,350.00 /mo and rent to <br />increase three percent annually. The initial term of the Lease to be five years with one five year <br />extension option and subject to such other legal term modifications as recommended by City <br />Attorney upon negotiation with the enant. <br />Review Checklist: <br />CONSENT # 9 <br />CONSIDER RENEWAL OF SITE LEASE AGREEMENT <br />AT DYSPROSIUM STREET WATER TOWER RE USA MOBILITY <br />By: William K. Goodrich, City Attorney <br />City Administrator <br />Finance Director <br />Public Works Director <br />