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Additional information Council should be aware of, there is an existing Sprint antenna lease
<br />agreement for the South Tower. T-Mobile has recently merged with Sprint. The Sprint site is still
<br />active, it has a final lease end date of 12/31/2044. The terms of the Sprint lease are an annual
<br />increase of 4%, the lease rate for 2024 is expected to be $48,848.06. As of right now, City staff is
<br />not aware of any changes related to the Sprint lease agreement but staff has assumed a decrease
<br />of $30,780 to the budget for 2024 related to this merger.
<br />Budget Impact
<br />Below are tables that represent the current lease agreement with T-Mobile and the proposal from
<br />T-Mobile:
<br />Current Lease (Expires 2025)
<br />Prior Year
<br />15% increase
<br />Current Year
<br />Monthly
<br />2019
<br />$18,250.00
<br />$18,250.00
<br />$1,520.83
<br />2020
<br />$18,250.00
<br />$2,737.50
<br />$20,987.50
<br />$1,748.96
<br />2021
<br />$20,987.50
<br />$20,987.50
<br />$1,748.96
<br />2022
<br />$20,987.50
<br />$20,987.50
<br />$1,748.96
<br />2023
<br />$20,987.50
<br />$20,987.50
<br />$1,748.96
<br />2024
<br />$20,987.50
<br />$20,987.50
<br />$1,748.96
<br />2025
<br />$20,987.50
<br />$3,148.13
<br />$24,135.63
<br />$2,011.30
<br />2026
<br />$24,135.63
<br />$24,135.63
<br />$2,011.30
<br />2027
<br />$24,135.63
<br />$24,135.63
<br />$2,011.30
<br />2028
<br />$24,135.63
<br />$24,135.63
<br />$2,011.30
<br />2029
<br />$24,135.63
<br />$24,135.63
<br />$2,011.30
<br />T-Mobile Proposal
<br />#1
<br />Starting base rent
<br />at $1600
<br />Prior Year
<br />15% increase
<br />Current Year
<br />Monthly
<br />2025
<br />$20,987.50
<br />$19,795.84
<br />New rate effective 5/1/25
<br />2026
<br />$19,200.00
<br />$19,200.00
<br />$1,600.00
<br />2027
<br />$19,200.00
<br />$19,200.00
<br />$1,600.00
<br />2028
<br />$19,200.00
<br />$19,200.00
<br />$1,600.00
<br />2029
<br />$19,200.00
<br />$19,200.00
<br />$1,600.00
<br />2030
<br />$19,200.00
<br />$2,880.00
<br />$22,080.00
<br />$1,840.00
<br />2031
<br />$22,080.00
<br />$22,080.00
<br />$1,840.00
<br />2032
<br />$22,080.00
<br />$22,080.00
<br />$1,840.00
<br />2033
<br />$22,080.00
<br />$22,080.00
<br />$1,840.00
<br />2034
<br />$22,080.00
<br />$22,080.00
<br />$1,840.00
<br />2035
<br />$22,080.00
<br />$3,312.00
<br />$25,392.00
<br />$2,116.00
<br />2036
<br />$25,392.00
<br />$25,392.00
<br />$2,116.00
<br />2037
<br />$25,392.00
<br />$25,392.00
<br />$2,116.00
<br />2038
<br />$25,392.00
<br />$25,392.00
<br />$2,116.00
<br />2038
<br />$25,392.00
<br />$25,392.00
<br />$2,116.00
<br />2038
<br />$25,392.00
<br />$3,808.80
<br />$29,200.80
<br />$2,433.40
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