Agenda - Council - 11/28/2023 - Laserfiche WebLink

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5. 3. CC Regular Session Meeting Date: 11/28/2023 PrimaryStrategic Plan Initiative: Identify and implement operational efficiencies,cost savings and additional g funding sources. Information Title Approval of Alpine Park Cell Tower Lease Extension Purpose/Background: The City entered into a Site Agreement with T-Mobile Central LLC, which was later assigned to SBA Communications Corporation, for the purpose of leasing space at Alpine Park to construct a monopole communications facility. The current lease is set to expire December 31, 2029. In an effort to secure confidence for the carriers located on the pole, SBA is seeking a 25-year lease extension in five (5) year terms. The proposed terms are as follows: 1. 25-year Lease Extension in 5-year terms 2. $25,000 Signing Bonus 3. Increase rent to $2,200/mo on 1/1/2025 in lieu of a CPI increase 4. Keep CPI Escalation every 5 years 5. Right Of First Refusal for Leased area only/no exclusivity Currently,the monthly rent amount is $1,785 or$21,428 per year. In addition to the lease revenue,the City also receives profit sharing from carriers located on the pole (excluding T-Mobile) of approximately $10,000 per year. This profit sharing would continue under the lease extension terms. Observations/Alternatives: Alternative 1: Approve the lease extension Alternative 2: Deny the lease extension Recommendation: Staff recommends extension of the lease agreement per the above terms. Action: Motion to approve a Lease Extension with SBA Communications Corporation at Alpine Park subject to the terms identified. Attachments Proposed Lease Extension 2008 Lease Agreement Form Review Inbox Reviewed By Date Brian Hagen Brian Hagen 11/22/2023 10:53 AM Form Started By:Brian Hagen Started On: 11/22/2023 10:12 AM Final Approval Date:11/22/2023