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|September 26, 2019, City Council Regular Meeting|
17. Motion to Authorize the City Manager to Execute Amendment No. 2 with T-Mobile for Lease of the City's Water Tank at 29 Sapelo Road
T-Mobile South LLC (T-Mobile) currently pays an annual rental rate of $53,444.79 for placement of telecommunication equipment on the City’s Water Tank at 29 Sapelo Road on Wilmington Island. The current lease ends in August 23, 2020 and the tenant is seeking an amendment in which to add the option of four (4) additional five (5) year extensions. Upon renewal, rental rate will be $55,057.55 per year with an annual escalator of 4%. This request has been reviewed and approved by the City's GMA telecommunications consultant.
David Keating, Director of Real Estate Services
Revenue of $55,057.55 to the Water and Sewer Fund
Exhibit 1: Map - T-Mobile Lease of City Water Tank.pdf
Exhibit 2: Executed Amendment - T-Mobile Lease of City Water Tank.pdf