title
Consider/Discuss/Act on a Resolution Authorizing Agreement Between T-Mobile West Corporation, a Delaware Corporation and City of McKinney for Placement of a Wireless Communication Antennae on a Water Tower Located at 10153 Westridge
Summary
MEETING DATE: January 5, 2010
DEPARTMENT: Public Works
CONTACT: Hal Cranor, Executive Director for Public Works
RECOMMENDED CITY COUNCIL ACTION:
• Approval of Resolution to authorize City Manager to enter into a lease agreement with T-Mobile West Corporation, a Delaware Corporation.
ITEM SUMMARY:
• Initial Term - Initial term of lease will be five (5) years commencing on the effective date of lease.
• Renewal - Lease may be extended for five (5) additional, five-year terms with an increase of fifteen percent (10%) of the rent paid over the preceding term.
• Rent - Tenant shall pay as rent, eighty one thousand four hundred eight and no/100 dollars ($20,352.00) annually for the initial term
BACKGROUND INFORMATION:
• Currently the City has thirteen (17) wireless lease agreements on five water towers generating an estimated $300,000 per year in additional revenue.
• Documents and agreement have been reviewed by City Attorneys Office and have been found to meet current requirements.
SPECIAL CONSIDERATIONS:
• None
FINANCIAL SUMMARY: N/A
BOARD OR COMMISSION RECOMMENDATION: NA