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THE CITY OF <br /> { - °- CITY COUNCIL AGENDA REPORT L <br /> pL E ASANTON, <br /> July 17, 2012 <br /> City Manager <br /> City Attorney <br /> TITLE: APPROVE LEASE WITH VERIZON WIRELESS FOR CELLULAR <br /> ANTENNA FACILITIES ON CITY PROPERTY LOCATED AT 8251 <br /> SANTOS RANCH ROAD <br /> SUMMARY <br /> Verizon Wireless seeks to lease a portion of City property located on Santos Ranch <br /> Road where the City has a water tank and receives rental income from two other <br /> wireless carriers. City staff and Verizon have worked together to come up with a design <br /> that will allow Verizon to fill gaps in cell phone coverage for its customers while not <br /> creating a negative visual impact on the surrounding area. The property is within the <br /> County of Alameda and the County approved Verizon's Design Review application on <br /> June 28, 2012. The lease provides for annual rent of $21,600 (excluding the first 6 <br /> years) plus a 3% annual rent increase (beginning on year 7). The lease term is 20 <br /> years. <br /> RECOMMENDATION <br /> Authorize the City Manager to execute a lease agreement with Verizon Wireless for <br /> cellular antenna facilities on City property. <br /> FINANCIAL STATEMENT <br /> Over a 20 year term, the lease will generate $369,070.60. <br />