P.O. Drawer 140, 100 Central Circle

Low Moor, VA  24457

540-863-1809    540-863-1804 fax

 

DATE: July 26, 2017

 

INFORMATION ITEM

SUBJECT

Apex Tower Proposal

RATIONALE

Apex Tower has offered a lease agreement proposing the construction of a cell tower on the CMS/MVES property. The proposed pad site (100’ x 100’) is to be located near the river on the Mountain View Elementary side of the property (see attached map).  Per the proposal, Apex Tower will construct an access road that will extend from Gleason Drive to the pad site.

 

Initial Apex Proposal

 

·        $9,000 annual rent

·        No annual escalation

·        No revenue sharing for revenue generated by Apex for carriers locating on the tower

·        100 year term

 

Final Negotiated  Proposal

 

·        $16,800 annual rent

·        3% annual escalation

·        10% revenue sharing of fees paid to Apex by carriers locating on the tower

·        40 year term

 

The Agreement has been reviewed by our attorney and will receive one final review.

 

ESTIMATED COSTS

N/A

BUDGET CATEGORY

N/A

LEGAL REFERENCE

N/A

STAFF CONTACTS

Keven Rice

SUPERINTENDENT’S

RECOMMENDATION 

 

 

Attachments: Proposed Apex Tower Location