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TO: Mayor Richard C. Irvin
FROM: Michael Baker, Optical Network Engineer
DATE: June 22, 2018
SUBJECT:
A resolution approving a tower lease agreement with Chicago SMSA limited Partnership, LLP d/b/a Verizon Wireless (Verizon), an Illinois limited partnership, with its principal offices at One Verizon Way, Mail Stop 4AW100, Basking Ridge, New Jersey 07920, to install and maintain communication equipment on the City-owned communications facility located at 2339 Diehl Rd, Fire Station #9 and a memorandum of the lease.
PURPOSE:
City Council approval is a prerequisite to the sale or lease of any real property or portion thereof owned by the City.
BACKGROUND:
In 2017, Verizon approached City personnel to discuss the possibility of installing communications equipment on the City's communication facility located at Fire Station #9.
DISCUSSION:
The proposed lease has an initial term of five years and affords Verizon the option to extend the lease for up to four additional renewal periods of five years each. During the initial lease period, Verizon will pay the City $33,000 in annual rent or $2,750 per month.
The annual rental shall increase on each anniversary of the Commencement Date by an amount equal to three percent (3%) of the Rent for the previous lease year.
IMPACT STATEMENT:
Approval of this resolution will provide a modest source of revenue and have the ancillary benefit of improving connectivity and service for Verizon's customers within the City.
RECOMMENDATIONS:
That the City Council approve the resolution.
cc: Finance Committee
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
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A Resolution authorizing the approval of a lease agreement and memorandum of the lease agreement between the City of Aurora and Verizon Wireless for the lease of space on a City-owned communication tower located at 2239 Diehl Rd, Aurora, Illinois.
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WHEREAS, the City of Aurora has a population of more than 25,000 pe...
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