Title
Approval of Antenna Lease Agreement with Sprint Spectrum Limited Partnership at the Bush Water Storage Tank Site
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Move to approve the Antenna Lease Amendment No. 1 with Sprint Spectrum Limited Partnership (L.P.) and authorize the City Manager to sign the lease amendment.
Report
Issue:
Whether to approve the antenna lease amendment with Sprint Spectrum L.P.
Staff Contact:
Meliss Maxfield, Director of General Services, Public Works Department/General Services, 360.753.8202.
Presenter(s):
None - Consent Calendar Item.
Background and Analysis:
Sprint Spectrum L.P. has been leasing space from the City of Olympia since 2007. They are requesting to enter into an additional five-year lease term with the City of Olympia.
The property is located at the Bush Street Water Storage Tank, 505 Birch Street, NW, Olympia, Washington.
The City of Olympia enters into this lease amendment with Sprint Spectrum L.P. as Lessor. They will be compensating the City of Olympia for the ground and utilities easement portion of the lease. The Water Utility will receive a total of $101,059 over the next five years. The annual lease rates are consistent with other agencies in our area and other western Washington public agencies.
Neighborhood/Community Interests (if known):
N/A
Options:
1. Approve Antenna Lease Amendment No. 1 with Sprint Spectrum L.P. and authorize the City Manager to sign the lease amendment. The annual rent provides revenue to the Water Utility's annual operating budget.
2. Do not approve Antenna Lease Amendment No. 1 with Sprint Spectrum L.P. The Water Utility would lose approximately $18,658 - $21,827 in annual revenue at this site over the next five years, which would be inconsistent with the City of Olympia's Wireless Telecommunication Master Plan.
Financial Impact:
The revenue to the Water Utility from this lease is $18,658.19 for the first...
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