AGENDA ITEM REPORT
TITLE:
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AN ORDINANCE AUTHORIZING THE MAYOR TO EXECUTE THE LEASE AGREEMENT WITH VERIZON WIRELESS PERSONAL COMMUNICATIONS LP D/B/A VERIZON WIRELESS COMMUNICATIONS (“VERIZON”) TO PROVIDE FOR THE LEASING OF CITY LAND AND A TELECOMMUNICATIONS TOWER AT SABAL PINES PARK. (SECOND READING)(PUBLIC HEARING)
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BACKGROUND:
This item was approved on First Reading at the December 14, 2017, City Commission Meeting.
Verizon Wireless Personal Communications LP d/b/a Verizon Wireless (“Verizon”) has applied to lease a portion of city-owned land and a telecommunications tower from the City located at 5005 NW 39th Avenue (“Sabal Pines Park”) for the purpose of constructing and maintaining a communications facility on the existing tower.
DISCUSSION:
The City is committed to increasing its revenue by permitting Verizon to construct and maintain a communications facility on the existing tower located on its property in exchange for a rental payment of $39,900 per year with annual increases in the amount of three percent (3%). The original lease term is ten (10) years from the effective date with two successive five (5) year renewals unless Verizon advises the City of its intent not to renew at least six months prior to the end of the current term.
RECOMMENDATION:
Staff recommends approval of this Ordinance.
FISCAL IMPACT:
REVENUES: $ 39,900
EXPENDITURES: $ 0
BUDGETED? No
NOTES: This item will increase revenue by $39,900 in General Fund Account 01-V36220, Tower Leases.