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<br />e <br /> <br />e <br /> <br />e <br /> <br />CITY OF ARDEN fiLLS <br /> <br />MEMORANDUM <br /> <br />DATE: <br /> <br />January 27, 2000 <br /> <br />TO: <br /> <br />Joe Lynch, City Administrator <br /> <br />Terrance R. Post, City Accountant@ <br />Sprint PCS Lease Recommendation <br /> <br />FROM: <br /> <br />SUBJECT: <br /> <br />Backl!:round <br />In conjunction with Planning Case #00-05 moving through the planning cycle, I have <br />concurrently been involved with City Attorney Jerry Filla in reviewing the proposed Sprint PCS <br />lease document with Sprint PCS Agent, Steven Carlson, of Carlson and Harrington, Inc, After <br />several alterations, Attorney Filla is comfortable with the language in the January 24, 2000 lease <br />version supplied by Mr. Carlson (enclosed). <br /> <br />Discussion <br />With regards to the economics of the proposed lease, it is comparable with the elements of the <br />other two (2) executed leases the City currently has with AT&T Wireless and Nextel. The <br />agreement's initial term, renewable term, and rent escalator are competitive with provisions of <br />the other leases. <br /> <br />As a financial benchmark, the AT&T Wireless lease is currently in its second five-year renewal <br />term with a current monthly lease payment of $792,78; and the Nextellease is currently in its <br />initial five-year term with a monthly lease payment of $750,00 per month, The monthly lease <br />payment for the initial five-year term of the proposed Sprint PCS lease is $1,000.00 per month, <br /> <br />Recommendation <br />Assuming the City Council approves Planning Case #00-5 at their regular Council meeting of <br />January 31, 2000; staff recommends that Council also authorize the Mayor and City <br />Administrator to execute the PCS Site Agreement between the City of Arden Hills and Sprint <br />Spectrum 1. p, <br />