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  Item No. 25.       
Meeting Date: 04/08/2021  
COMMITTEE: Legal  
CONTACT: Parker Patterson CHAIR: Judy Stubbs

ACTION REQUESTED:
Telecommunications Tower Lease - Consider approval of a Lease Agreement for Gravity Partners II, LLC. (Stubbs/Stark)
BACKGROUND:
Initiated by: Scott Stark 
 
Gravity Partners II, LLC requests land located at the RAC, consisting of 2,500 square feet, more or less, for the purpose of transmission and reception of communication signals and the installation, construction, modification, replacement, maintenance, operation, repairs and removal of communications fixtures and related equipment cables. 

The Lease has a term of Five (5) years from the Commencement Date, with option to renew seven (7) additional five (5) year terms. 
FINANCIAL CONSIDERATION
Rent amount is $1,020 monthly. In addition, the tenant is required to pay to the City twenty percent (20 %) of any rents received from subleases. 
LEGAL REVIEW:
The City Attorney has reviewed the proposed Lease.
 
Leases and other contractual agreements generally require approval by a majority of the City Council. 
BOARD AND COMMITTEE ACTION:
The Legal Committee recommended (2-1) approval at their meeting on April 1, 2021.
STAFF RECOMMENDATION:
Consider approval of a Lease Agreement for Gravity Partners II, LLC.
Attachments
ATT 1 - Telecommunications Tower Lease
ATT 2 - Telecommunications Tower Lease (REDLINE)


    

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