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Lease Agreement with Verizon Wireless at Jerome Park <br />October 1, 2012 <br />Page 2 of 3 <br />The lease agreement is for $1,400 per month ($16,800 per year). The term of the lease is for 10 <br />years, with option for three 5 year extensions. The agreement includes a $30,000 one-time payment <br />for park improvements and a 4% annual increase each year. Verizon Wireless will provide all the <br />proper insurances and obtain the necessary city permits prior to construction. <br />On January 18, 2012, staff presented Verizon Wireless proposal to the Bella Vista and New Horizon <br />Neighborhood Associations. Both neighborhood associations approved the co-location and <br />requested the annual revenue be put into an account for Jerome Park improvement and repair. At <br />the next Park, Recreation, Education and Youth (PREY) Council committee meeting, committee <br />members will be discussing the best use of cell tower funding, including revenue generated by this <br />agreement. <br />ENVIRONMENTAL IMPACT <br />In accordance with the California Environmental Quality Act, the recommended action is exempted <br />from further review. Categorical Exemption Environmental Review No. 2012-59 (Jerome Park) will be <br />filed for this project. <br />FISCAL IMPACT <br />This appropriation adjustment will recognize $46,800 in the Capital Outlay Fund Miscellaneous <br />Recovery account (no. 05102002 57010) and appropriate same to the Capital Outlay Fund <br />Improvements other than Building Expenditure account (no. 05113263 66220). <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />Gerardo Mouet <br />Executive Director <br />Parks, Recreation and <br />Community Services Agency <br />A M Z N I-A 1: ?\_ L., <br />Francisco Gutierrez <br />Executive Director <br />Finance & Mgmt Services Agency <br />20A-2