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CITY COUNCIL <br />AGENDA ITEM 5A <br /> <br /> <br />STAFF ORIGINATOR: Rick DeGardner, Public Services Director <br /> <br />MEETING DATE: December 11, 2017 <br /> <br />TOPIC: Consider Resolution No. 17-140, Approving Sprint Spectrum L.P. <br />Lease Agreement – Water Tower #1 <br /> <br />VOTE REQUIRED: 3/5 <br /> <br /> <br />INTRODUCTION <br /> <br />The existing lease agreement with Sprint Spectrum L.P. to operate telecommunications <br />equipment on the water tower located at 7470 Fourth Avenue has expired. City staff and the City <br />Attorney have negotiated the attached lease agreement with Sprint Spectrum. The City Council is <br />now being requested to approve this lease agreement. <br /> <br />BACKGROUND <br /> <br />The term of the agreement is for five (5) years. This Agreement will be automatically renewed <br />for three (3) additional five-year terms unless one party provides the other party with 180 day <br />written notice of its intention not to renew prior to the expiration of the Initial Term or any <br />Additional Term. <br /> <br />The rent has been increased to a monthly fee of $2,900.00. The monthly rent payment will <br />increase by 4% of the monthly fee each year of this Agreement beginning March 1, 2018 and on <br />each anniversary of March 1 thereafter. <br /> <br />RECOMMENDATION <br /> <br />Approve Resolution No. 17-140. <br /> <br /> <br />ATTACHMENTS <br /> <br />Resolution No. 17-140 <br />Water Tower Lease Agreement