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| March 26, 2020 City Council Regular Meeting | |
| Title 30. Approval to Authorize the City Manager to Execute a Fifth Amendment to the Existing Lease Agreement to allow Alltel Communications, LLC (“Verizon”) to Upgrade Their Equipment on a City-Owned Water Tower. | |
| Strategic Priority Infrastructure | |
| Description Verizon, as a successor in interest to Alltel Communications, LLC currently leases space from the City of Savannah on the City’s Water Tank at 100 James B. Blackburn Drive at Savannah International Airport. Verizon began leasing space from the City on June 1, 2004 and currently pays an annual rental rate of $73,844.74. The tenant is seeking to upgrade equipment at the lease premises and has agreed to an increased rental rate of $6,000 per year. New annual rental rate will be $79,844.74 with a 4% escalation each year. No other terms or conditions will change. This Fifth Amendment to Lease has been reviewed by the City’s Information Technology Department (IT) and by Real Estate Services. The following condition(s) are noted:
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| Recommendation Approval | |
| Contact David Keating, Senior Director of Real Estate Services | |
| Financial Impact $79,844.74 to Water/Saver Enterprise Fund + 3% escalator | |
| Review Comments | |
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Attachments Exhibit 1: Map - 100 James B. Blackburn Drive.pdf Exhibit 2: Agreement - 100 James B. Blackburn Drive.pdf |
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