Title/Name/Summary
Proposed Water Tower Lease Agreement - Approval
History
ClearWireless, LLC has approached the Village requesting a lease agreement for the water tower located at 17801 S. Wolf Road. ClearWire was asked to sign the standard agreement the Village has used for the other lease agreements the Village has with other companies. However, they have asked for slight modifications to the agreement, and the Village attorney has reviewed and approved their requested language. This lease incorporates the Board’s recently adopted General Policy for Co-Locating Wireless Communication Facilities on Village Property.
Annual Increase: ClearWire has agreed to a $3,000 per month rent with a 3% annual increase.
Term: An initial term of 5 years plus 3 additional 5-year renewal options.
Public Works staff has reviewed and approved the details for the proposed location.
Financial Impact
The Village would receive a total of $191,028 over the initial five-year period.
Recommended Action/Motion
I move to approve a tower lease agreement with ClearWireless, LLC for the use of the water tower at 17801 S. Wolf Road in the amount of $3,000 per month subject to 3% annual increases and to authorize the Village Manager to execute the agreement.