Grant extension of the lease agreement for the Golden Park Cell Tower to \n \n Columbus Management, LLC for an additional five (5) year term and authorize the \n \n City Manager to enter into the agreement.
Approval
Pending
Background
Columbus Management, LLC has been leasing the Golden Park Cell Tower site from
the City pursuant to an Option and Lease Agreement executed on May 20, 2009.
Per this agreement, the Tenant may extend the lease for an additional 5 year
term with Council Approval and 180 days notice. Staff has received the timely
request for extension. The rent will increase from $6,000 per year to $6,900
per year.
Analysis
There have been no other requests for this space. The tenant appears to have
operated within the parameters of the lease agreement.
Financial Considerations
The City will collect $6,900 in annual revenue.
Projected Annual Fiscal Impact Statement
The City will collect $6,900 in annual revenue.
Legal Considerations
Council must approve all lease agreements.
Recommendations/ Actions
Grant extension of the lease agreement for the Golden Park Cell Tower to
Columbus Management, LLC for an additional five (5) year term and authorize the