Title
Authorization to Amend License Agreement 141668 with Cellco Partnership (Ordinance S-52065) - District 7
Description
Request to authorize the City Manager, or his designee, to amend License Agreement 141668 with Cellco Partnership, successor-in-interest to Verizon Wireless (VAW), LLC, to extend license for occupancy at 305 W. Washington Street, a City-owned property, for five years and to provide for two additional five-year automatic renewal options to extend. Further request authorization for the City Treasurer to accept all funds related to this item.
Report
Summary
Cellco Partnership, successor-in-interest to Verizon Wireless (VAW), LLC, currently licenses approximately 313 square feet and eight wall-mounted antennas on City-owned property located at 305 W. Washington Street, to maintain and operate telecommunications equipment and related facilities. The monthly rental rate per antenna is $1,150. Base rent during the first year of the extended term is $9,200 per month, plus applicable taxes, which is within the range of market rents as determined by the Real Estate Division. Base rent will be adjusted three percent annually on each anniversary of commencement date.
All other terms and conditions will remain the same.
Contract Term
The term of the License Agreement will be for five years beginning on November 1, 2025, through October 31, 2030 with two additional five-year automatic renewal options to extend.
Financial Impact
Revenue during the first year of the extended term will be $110,400, plus applicable taxes, with an adjustment of three percent annually on each anniversary of commencement date.
Concurrence/Previous Council Action
Agreement 141668, Ordinance S-41634 adopted April 22, 2015.
Agreement 141668-1, Ordinance S-48577 adopted May 11, 2022.
Location
305 W. Washington Street
Council District: 7
Department
Responsible Department
This item is submitted by Deputy City Manager Mario Paniagua and the Public Works and Finance departments.