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Additional information Council should be aware of, the Sprint antenna lease agreement for the <br />South Tower will terminate on August 31, 2024. T-Mobile has recently merged with Sprint and <br />has initiated decommissioning of their equipment on the tower. Staff had anticipated this change <br />last year while budgeting for 2024 and assumed a revenue decrease of $30,780. The terms of the <br />Sprint lease were an annual increase of 4% with the lease rate for 2024 set at $48,848.06, and <br />prorated actual earnings of $32,565.37. <br />Budget Impact <br />Within Attachment A, are different lease options to review which consist of different <br />combinations of the following parameters: <br />• Continue current rate at $2,011.36 with existing terms of 15% escalator every 5 years <br />• $3,000 - $4,000 monthly <br />• Escalator 4 - 5% annually or 7.5 - 15% every 5 years <br />• Each option is shown for 25 years, this can be adjusted <br />Council may determine any values they would like for the given terms, the tables provided are <br />only to give a reference of what different combinations look like. City staff is looking for <br />direction from Council on what proposed terms should be brought back to T-Mobile for <br />negotiation. <br />Attachments <br />Attachment A: T-Mobile Site Lease Agreement Options <br />Attachment B: First Amendment to Site Agreement <br />Page 2 of 2 <br />