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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />MAY 19, 2020 <br />TITLE: <br />APPROVE AN ASSIGNMENT AND <br />ASSUMPTION OF A GROUND LEASE <br />FROM EACH AFFILIATE OF AT&T, INC. <br />TO EACH AFFILIATE OF OCTAGON <br />TOWERS, LLC RELATING TO THE CELL <br />TOWER SITE AT JEROME PARK <br />/s/ Kristine Ridge <br />CITY MANAGER <br />CLERK OF COUNCIL USE ONLY: <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1" Reading <br />❑ Ordinance on 2ntl Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For <br />rK•�►nutn�.ic. <br />FILE NUMBER <br />RECOMMENDED ACTION <br />Authorize the City Manager to approve an assignment and assumption of a ground lease from each <br />affiliate of AT&T, Inc. to each affiliate of Octagon Towers, LLC. relating to the cell tower site at <br />Jerome Park, subject to non -substantive changes approved by the City Manager and City Attorney. <br />DISCUSSION <br />AT&T is the lessee of the cell tower site at Jerome Park and has requested to assign their interest in <br />the lease to Octagon Towers, LLC or one of its affiliates. In connection with the proposed assignment, <br />they are requesting that the City review and execute the Estoppel Certificate. The lease is in full force <br />and effect. The current term of the agreement is a 10-year term from April 19, 2011 to April 18, 2021 <br />with three, five-year extensions (Exhibit 1). The monthly rent for this lease is $3,284.57, with an annual <br />4% increase. The City uses the revenue generated from cell tower lease revenue to address deferred <br />maintenance and improvements at the park where the cell tower is located. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Strategic Plan Goal #5 - Community Health, <br />Livability, Engagement & Sustainability, Objective #4 (support neighborhood vitality and livability). <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />Exhibit: 1. Assignment and Assumption Lease <br />25G-1 <br />