Title
Consider and take action on a resolution authorizing a license agreement with SprintCom, Inc. for the continued placement of an antenna and related equipment on the Brittany Bay Water Tower located at 5123 ½ Candlewood (Director of Public Works)
Background:
Approval of this resolution will replace the existing agreement with SprintCom, Inc. for continued use of the Brittany Bay Water Tower. The initial agreement was originated on April 2, 2004 and will expire on April 14, 2019. The new term of the cell tower lease agreement is for sixty (60) months, commencing on April 15, 2019, and is subject to two (2) renewal terms of sixty (60) months each. Total revenue income for the initial sixty (60) month term, including the annual three percent (3%) escalator, is $165,645.
Starting on the first day of the New Initial Term, April 15, 2019 and on the fifteenth (15th) day of every month thereafter, SprintCom, Inc. will pay in advance a monthly license fee of Two Thousand Six Hundred and 00/100 Dollars ($2,600.00). Commencing on April 15, 2020, the license fee will be automatically increased annually by three percent (3%) of the then current license fee. The approval of the agreement will update the current rate from approximately $1,890.74 to $2,600 monthly. The City currently has four similar PCS agreements ranging from $1,890.75 to $3,120.00 per month.
The City may terminate the License at any time by giving SprintCom, Inc. at least 180 days prior written notice for termination without default and 30 days written notice for termination with default.
CONTRACT ORIGINATION: The City Attorney's Office has reviewed and approved the agreement attached to this data sheet.
Attachments:
1. Data Sheet
2. Proposed Resolution
3. Agreement with SprintCom, Inc.
4. Original Agreement 4.2.2004
FUNDING:
{X} Billings will use charge code CTLEW (Cell Tower Lease Fees - Water) with revenue hitting fund 1020 Org 44100 Water/Wastewater Proceeds from Lease
ST...
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