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annual return. If you assume our property is worth $400,000, that $30,000 annual income still yields a <br />7.5% return. <br />One could argue that tieing this property up for such a long term may result in loss economic <br />opportunity in the future. However, the 3% escalator and the fact we made the lease a flat payment <br />versus one that had 10% add on payments for each sublease on the tower, we have muted some of the <br />risk. <br />We are still finishing our due diligence with our tower consultant. Once that info is received, we will <br />also review the final program with the City Attorney. This may occur by Monday's meeting, but that <br />might be rushing it a bit. <br />Staff is looking for the Council's position on the options presented and authority to finalize the <br />lease pursuant to the terms discussed and subject to review by the City Attorney. <br />