Broken Arrow City Council
Meeting of: 07-15-2024
Title:
title
Approval of and authorization to execute a Second Amendment for a five-year extension on Lease Agreement at Arrowhead Park with Cellco Partnership DBA Verizon Wireless
End
Background:
Commencing on July 1st, 2026, Cellco Partnership (Verizon Wireless) to utilize the cellular tower located on Arrowhead Park for an additional five (5) years. Rent will be $1672.96 per month and increase 15% every year after. Along with a one-time payment of $15,000 paid to the Landlord upon execution of lease extension.
Cost: $0
Funding Source: None required
Requested By: Scott Carr, Director of Information Technology
Approved By: City Manager’s Office
Attachments: Cellco Partnership D/B/A Verizon Wireless Site Use/Lease Agreement, & 2nd Amendment lease agreement.
Recommendation:
recommend
Approve of and authorize the execution of the Second Amendment for a five-year extension on Lease Agreement at Arrowhead Park with Cellco Partnership DBA Verizon Wireless.
end