Fiscal Note
The proposed resolution authorizes a third renewal option with Verizon Wireless for antennas utilizing the Larkin Tower. The annual payment for this lease is $34,091 and will be deposited into the General Fund.
Title
Authorizing the execution of a Third Amendment to License pertaining to a license with Verizon Wireless Personal Communications LP, d/b/a Verizon Wireless (f/k/a PrimeCo Personal Communications, LP), at the Larkin Communications Tower located at 125 Larkin Street.
Body
WHEREAS, the City is the owner of the communications tower located at 125 Larkin Street (the “Tower”); and
WHEREAS, the City and Verizon Wireless Personal Communications LP, d/b/a Verizon Wireless (f/k/a PrimeCo Personal Communications, L.P.) (hereinafter, “Verizon”) are parties to a license dated June 18, 1997, as amended (the “License”), pertaining to the placement by Verizon of telecommunications equipment on the Tower and an equipment shelter and generator located on land near the base of the Tower (the “Land”). The Land and space on the Tower are hereinafter collectively referred to as the “Premises,” and are depicted on the attached Exhibit A; and
WHEREAS, the original License was authorized by Resolution No. 54,252, File ID No. 21,302, adopted by the Common Council on June 3, 1997; and
WHEREAS, the License was subsequently amended by a First Amendment to License, authorized by Resolution No. RES-08-00814, File No. 11483, adopted by the Common Council on September 2, 2008; and
WHEREAS, the License was further amended be a Second Amendment to License, authorized by Resolution No. 54,252, File ID No. 21,302, adopted by the Common Council on June 3, 1997; and
WHEREAS, the initial term of the License was for the ten (10)-year period commencing on June 1, 1997 and ending on May 31, 2007, and Verizon has exercised its two (2) renewal options such that the current term expired on May 31, 2017; and
WHEREAS, in accordance with the terms of the License, Verizon has r...
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