Cell Tower Lease Tabled
Panel Holds Off On Extention
Posted: January 10, 2013 at 5 a.m.
A cell tower in the middle of the aquatic center parking lot is distracting from the aesthetic view of the multimillion dollar project, some city officials said.
At A Glance
Cell Tower
City leaders tabled Tuesday a proposed extension of a lease agreement for a cell tower in the parking lot of the new aquatic center on South 26th Street. Three companies are bidding on the lease scheduled to expire in 2017.
• American Tower Corp. holds the current lease and pays the city $18,885 per year for the lease. The company is offering to raise the annual payment to $43,885 with a 3 percent increase per year for a 30-year lease.
• Tristar Investors Inc. is offering the city $25,000 now and $33,000 per year or 50 percent of the tower revenue, whichever is higher, for a perpetual land lease.
• Communications Capital Group offered the city a $301,000 lump sum payment for a perpetual lease, or a $271,000 lump sum payment for a 25-year lease.
Source: Staff Report
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