Fiscal Note
The proposed resolution has no fiscal impact. The Licensee will continue to pay an annual license fee. The License Fee shall continue to be subject to a 4% annual escalation. The revenues from this license, less any direct costs incurred by the Water Utility in the administration of the license, are deposited in a special reserve fund (Munis charge code 63028). In addition to normal direct costs, there is a payment to Dane County equal to 50% of the net proceeds of the license revenues to pay for the use of County-owned land to site the telecommunications facilities.
Title
Authorizing the execution of a Third Amendment to License pertaining to a license with Sprint Spectrum Realty Company, LLC at the Lake View Water Tower, located at 1202 Northport Drive.
Body
WHEREAS, the City and Sprint Spectrum Realty Company, LLC (f/k/a Sprint Spectrum L.P.) (“Sprint”) are parties to a license, dated March 19, 1998, as amended by Amendment to License dated March 25, 2004, and as further amended by Second Amendment to License, dated January 22, 2007 (collectively, the "License") pertaining to the placement by the Licensee of telecommunications equipment on the City-owned Lake View Water Tower (“Tower”) located on at 1202 Northport Drive in the City of Madison, as well as the placement of a telecommunications shelter located on land near the base of the Tower (“Land”). The Land and the space on the Tower are hereinafter collectively referred to as the “Premises”; and
WHEREAS, the Premises are located on the property owned by Dane County (“Property”) and described on attached Exhibit A - Revised 2016, and the City has an easement over the Property from Dane County, which allows for the Licensee’s use of and access to the Premises; and
WHEREAS, the initial term of the License was for the five (5)-year period commencing on March 1, 1998 and ending on February 2003, and the Licensee has exercised all three renewal options such that the current expiration date of th...
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