Title
Joint committee action authorizing the amendment of a five year lease agreement, with an option to renew, with T-Mobile Central LLC of Downers Grove, Illinois, for telecommunications equipment at the water tower at 30109 N. Park Road, Libertyville, Illinois.
Staff Summary
• Lake County owns the water tower located at 30109 N. Park Road, Libertyville, Illinois.
• Lake County has leased space to T-Mobile Central LLC of Downers Grove, Illinois, for cell antennas on the water tower since December 2007.
• T-Mobile Central LLC has requested an amendment to the existing lease to maintain telecommunications equipment on the water tower to provide wireless phone and data services to its customers.
• The current lease, in the amount of $35,821.56, includes a provision for an annual increase of three percent.
• The amendment to the lease establishes an initial lease payment of $36,000 per year with a 10 percent increase at the five year renewal period.
• It is hereby requested that the County Board Chair be authorized to execute the amendment to the lease agreement with T-Mobile Central LLC of Downers Grove, Illinois.
Body
TO: Public Works and Transportation Committee and the Finance and Administration Committee
FROM: Peter Kolb Director Lake County Public Works
DATE: August 3, 2016
RE: Contract Modification - Lease Agreement with T-Mobile Central LLC of Downers Grove, Illinois.
1. Lake County owns the water tower located at 30109 N. Park Road, Libertyville, Illinois.
2. Lake County has leased space to T-Mobile Central LLC of Downers Grove, Illinois, for cell antennas on the water tower since December 2007.
3. T-Mobile Central LLC of Downers Grove, Illinois, has requested an amendment to the existing lease to maintain telecommunications equipment on the water tower to provide wireless phone and data services to its customers.
4. The current lease, in the amount of $35,821.56, includes a provision for an annual increase of three percent.
5. The amendment to the lease establishes an initial lease payment of $36,000 per year with a ten percent increase at the five year renewal period.
6. An amendment to the lease agreement has been prepared, which sets forth the terms and conditions of the lease including a $36,000 annual lease payment with a 10 percent increase each additional renewal period.
7. It is hereby requested that the County Board Chair be authorized to execute the amendment to the lease agreement with T-Mobile Central LLC of Downers Grove, Illinois.
8. This modification provides for the revenue of the lease with T-Mobile Central LLC of Downers Grove, Illinois, in the amount of $36,000 to be deposited in account number 610-4811199-44020-000-000-000-48120.