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P.H. 2022-13: (PUBLIC HEARING 2ND READING)
AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE A LEASE AGREEMENT AND A MEMORANDUM OF LEASE AGREEMENT BETWEEN THE CITY OF POMPANO BEACH AND CELLCO PARTNERSHIP D/B/A VERIZON WIRELESS; PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE
(Fiscal Impact: $45,600 - Revenue)
FIRST READING: JANUARY 25, 2022
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(Staff Contact: Gene R. Zamoski)
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Summary Explanation/Background:
Verizon leases space on our communication tower at Blount Road. The original agreement was a 25-year agreement from 1996, specifically ordinance 1996-79. This agreement expired this year, with an annual rental fee of $31,992. This new agreement will be for 10 years, starting with an annual rental fee of $45,600. The rent will be increased annually in an amount equal to the change in the annual increase in the Consumer Price Index- All Urban Consumers.
Origin of request for this action: Staff
Fiscal impact and source of funding: $45,600 - Revenue
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