TO: Mayor and City Commission
FROM: Cale Curtis, City Manager
DATE: September 16, 2026
Title
RESOLUTION - APPROVING THE SECOND AMENDMENT TO THE PCS SITE AGREEMENT (BUN 878263) WITH NEW STC FIVE, LLC FOR THE EXISTING TELECOMMUNICATION SITE AT 1755 BANKS ROAD (MARGATE SPORTS COMPLEX); PROVIDING FOR TENANT RENT REDUCTION AND SUBTENANT RENT; PROVIDING FOR AN EFFECTIVE DATE.
BACKGROUND: This agenda item is for the Second Amendment to the PCS Site Agreement (BUN 878263) with STC FIVE, LLC through its attorney in fact Global Signal Acquisitions III, LLC, for the telecommunication site located at 1755 Banks Road (Margate Sports Complex). This Amendment reduces the tenant rent from $48,272.57 to $12,000 annually, effective December 1, 2025, and fifty percent (50%) of rent received from subtenants. Sprint was a subtenant on the tower until July 30, 2024, but there are not any subtenants utilizing the tower at this time.
RECOMMENDATION: For approval.
FISCAL IMPACT: Reduction of the guaranteed annual payment from $48,272.57 to $12,000, and fifty percent (50%) of rent received from subtenants.
CONTACT PERSON: Cale Curtis, City Manager