HomeMy WebLinkAbout25-111 - Resolution - Verizon Lease Agreement - Water Tower 1CITY OF LINO LAKES
RESOLUTION NO. 25-111
RESOLUTION APPROVING FIRST AMENDMENT TO
VERIZON WIRELESS LEASE AGREEMENT FOR WATER TOWER #1.
WHEREAS, the original lease agreement with Verizon (formerly AirTouch Cellular)
began in May, 2008, and expired in December, 2019, and
WHEREAS, a new lease agreement was approved by the City Council on September 24,
2018 via Resolution 18-126, and
WHEREAS, the First Amendment Lease Agreement reflects a new lease rate of
$3,430.72 per month commencing on January, 1, 2026. Beginning on January 1, 2027 the
monthly rent will increase by 2% over the monthly rent then in effect on each one-year
anniversary of January 1, 2027 thereafter, and
WHEREAS, in addition, the First Amendment Agreement includes a clause for the Right
of First Refusal. All the other terms and conditions of the 2019 Agreement will remain in full
force and effect.
NOW, THEREFORE, BE IT RESOLVED by the City Council of Lino Lakes, Minnesota that the
Mayor and City Clerk are hereby authorized to execute such agreement on behalf of the City.
Adopted by the Lino Lakes City Council this 25th day of August, 2025.
Rob Rafferty, Mayor
ATTEST:
Roberta Colotti, City Clerk