AGENDA ITEM REPORT
TITLE:
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AN ORDINANCE AUTHORIZING THE MAYOR TO EXECUTE THE FIRST AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF COCONUT CREEK AND CELLCO PARTNERSHIP D/B/A VERIZON WIRELESS TO ADOPT A NEW ANTENNA LAYOUT AND THE CORRESPONDING INCREASE IN RENT FOR THE ADDITIONAL LOADING ON THE CITY'S TELECOMMUNICATIONS TOWER AT SABAL PINES PARK, SUBJECT TO ALL OTHER TERMS AND CONDITIONS PROVIDED THEREIN. (SECOND READING)(PUBLIC HEARING)
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BACKGROUND:
This item was approved on First Reading at the December 8, 2022, City Commission Meeting.
The City owns the telecommunications tower ("Tower") within the City's Sabal Pines Park, located at 5005 NW 39 Avenue, Coconut Creek, FL 33073, and leases space to several tenants via lease agreements. The parties desire to amend the Lease Agreement dated January 25, 2018, to grant Verizon Wireless the ability to use additional equipment at the site and increase the number of antennas upon the Tower, resulting in an increase of its rent.
DISCUSSION:
In addition to authorizing new equipment on the tower and the corresponding increase in rent, this First Amendment provides Verizon Wireless an additional option to renew the term of the agreement from two (2) to three (3) additional five (5) year renewal options in exchange for other assurances, as stated therein. Of note, City Staff identified some updates that are required within the legal descriptions contained in the original lease agreement, and recommends that the City Commission explicitly condition its approval of any future amendments, sought by Verizon, upon an update and comprehensive review by Verizon of its previously submitted legal descriptions contained in the lease. Verizon has committed to make such a review and promptly deliver the necessary reports to the City for consideration and future steps, as the City deems necessary.
RECOMMENDATION:
Staff recommends approval of this ordinance.
FISCAL IMPACT:
REVENUES: $ 2,200
EXPENDITURES: $ 0
BUDGETED? No
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