File #: ID 2018-645    Version: 1 Name:
Type: Consent - Resolution Status: Agenda Ready
File created: 11/14/2018 In control: Regular City Commission Meeting
On agenda: 2/20/2019 Final action:
Title: RESOLUTION - APPROVING AMENDMENT NO. 2 TO CELL PHONE TOWER (VINSON FIELDS) LEASE AGREEMENT (BU 828746) EXTENDING TERMS OF THE AGREEMENT FROM JANUARY 31, 2021, THROUGH JANUARY 31, 2051; PROVIDING FOR AN EFFECTIVE DATE.
Attachments: 1. RESOLUTION, 2. BACKGROUND - New Amendment No.pdf, 3. BACKGROUND - Amendment No. 1
Date Ver.Action ByActionResultAction DetailsMeeting DetailsAudio/Video
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TO:                     Mayor and City Commission

 

FROM:                     Samuel A. May, City Manager

 

DATE:                     February 20, 2019

 

 

Title

RESOLUTION - APPROVING AMENDMENT NO. 2 TO CELL PHONE TOWER (VINSON FIELDS) LEASE AGREEMENT (BU 828746) EXTENDING TERMS OF THE AGREEMENT FROM JANUARY 31, 2021, THROUGH JANUARY 31, 2051; PROVIDING FOR AN EFFECTIVE DATE.

 

Body

 

 

BACKGROUND:                                          The current cell phone tower lease agreement located at Vinson Fields located along 851 NW 66th Avenue, commenced contractual terms on February 1, 1998 with contact terms expiring January 31, 2021. Amendment No. 1 authorized Omni Point Holdings, Inc. to sub lease to Verizon Wireless. This Amendment will extend terms an additional thirty (30) years including the automatic 5% renewal in annual rent.

 

 

RECOMMENDATION:                     To Approve

 

 

FISCAL IMPACT:                     Rent year 1: $58,505.21

                     Rent year 30: $240,815.40

                     Total contract: $3,887,019.02

 

 

CONTACT PERSON:                     Michael A. Jones, Director of Parks and Recreation