2024-O-003
Authorizing the City Manager to execute a First Amendment to the ground lease between the City of Laredo (“Landlord”) and American Towers LLC, a Delaware limited liability company (“Tenant”), as predecessor in Interest to Nextel WIP Lease Corp., for ground space at 3019 Cortez, Laredo, Webb County, Texas, for the continued maintenance and operation of a 100 ft. high self-supporting type tower and related ground facilities for use in their communications business. Term of the Amendment is one (1) initial term of five (5) years commencing November 21, 2025 and ending November 20, 2030, with four (4) additional five (5) year renewal options. The annual fee will increase from $15,652.91 to $45,000.00 with a three percent (3%) annual escalator. The City will also receive a $25,000.00 one-time payment within 30 days of Licensee’s receipt of this amendment executed by Landlord for processing and documenting this Amendment.
- Committee
- City Council
- Requested by
- Information Services & Telecommunication
- Introduced
- January 23, 2024
- On agenda
- February 5, 2024
- Passed
- February 5, 2024