HomeMy WebLinkAboutItem 06.s
Date: Item No.
AMENDED AND RESTATED COMMUNICATIONS SITE LEASE AGREEMENT
WITH VERIZON WIRELESS
Proposed Action
Staff recommends adoption of the following motion: Move to approve the amended and restated
communications site lease agreement with Verizon Wireless.
Overview
In July of 2015 Verizon Wireless entered into a lease agreement with the City of Lakeville to lease
space on the Fairfield Water Tower for the installation and operation of cellular communications
equipment and antennas. The current lease is due to expire at the end of November 2018. Over
the past year, the City has been working with Verizon Wireless in developing a new 15-year lease
agreement. Attached for City Council consideration is the final version of the new lease as agreed
to by Verizon Wireless.
Primary Issues to Consider
What revisions does the new lease agreement include:
The new lease agreement has been updated to include current standards and best practices
relating to the installation and leasing of cellular communications equipment on City owned
water towers and monopoles. Revisions also include a market rate lease adjustment from the
current rate of $20,312.11 per year to $33,287.28 per year with an ongoing 3% annual increase.
Supporting Information
Amended and restated communications site lease agreement with Verizon Wireless.
Financial Impact: $ n/a Budgeted: Y☐ N☐ Source:
Related Documents: (CIP, ERP, etc.):
Envision Lakeville Community Values: Good Value for Public Services
Report Completed by: Allyn Kuennen, Assistant City Administrator
October 30, 2018