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|May 24, 2018, City Council Regular Meeting|
24. Motion to Approve the Second Amendment to Lease with Sprint at 1801 Kerry Street.
Sprint leases space on the City’s communication tower at 1801 Kerry Street. The lease commenced in 2000 and the current rental rate is $36,534.00 annually. The tenant is seeking to upgrade equipment at the lease premises and has requested a lease amendment. The lease allows the tenant to periodically upgrade equipment subject to the review and consent of the City.
The tenant has agreed to an increased monthly base rent amount of $400.00, equating to $4,800.00 per year. Annual rental rate effective upon installation will increase to $41,334.00. No other terms or conditions of the lease will change.
This 2nd Amendment to Lease has been reviewed by the City’s Department of Information Technology and by Real Estate Services. The following condition(s) are noted:
David Keating, Director of Real Estate Services
No cost to the City. Increased annual revenue by $4,800.00 to total $41,334.00.
2nd Amendment 1801 Kerry Street.pdf