Label
American Tower/Verizon Lease Amendment-Detweiler Park
Department of Parks & Youth Services
J. Fausnaugh (x3884), B. Sehlhorst (x1692), C.Watkins (x1154)
Revised
Title
Authorizing the Mayor to enter into a five-year Lease Amendment, with Cellco Partnership d/b/a Verizon Wireless, an American Tower Delaware Corporation, for the lease of a portion of real property located at City of Toledo Detwiler Park; accepting and depositing rent proceeds into the Parkland Replacement Fund; waiving the 30-day notice requirement of Toledo Municipal Code Chapter 187; making certain findings with respect thereto; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The City of Toledo entered into a Lease Agreement with Toledo MSA Limited Partnership, a Delaware Limited partnership, (New Par, a Delaware Partnership dba Airtouch Cellular/Cellco Partnership dba Verizon Wireless), pursuant to Ordinance 44-93, passed by the Council of the City of Toledo, January 26, 1993, for the lease of a 27 ft by 52 ft section of land located at Detwiler Park, 3900 Summit St., for a self-supporting telecommunications tower, equipment shelter and fence. The original lease was for an initial twenty (20) years with two additional, five (5) year renewal options, expiring March 31, 2023.
This legislation seeks to authorize the Lease Amendment of original agreement and the acceptance and deposit of a one-time renewal fee in the amount of $50,000. In addition, this Lease Amendment incorporates six additional 5-year renewal options. Said Lease Amendment shall provide that Cellco Partnership d/b/a Verizon Wireless pay an annual fee of $13,504, for the 1st additional 5-year term (2023-2028) and an increase of 20% per term thereafter for the duration of this Lease Amendment.
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the Mayor is authorized to execute a Lease Amendment with Cellco Partnership d/b/a Verizon Wireless, an American Tower De...
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