Verizon Water Tower Lease

Context

Verizon Wireless leases space on a city water tower; the current lease runs to 2030 at about $35,000 a year with 2% annual increases. Verizon asked to extend because carriers are shifting to smaller local antennas and the big tower sites are becoming less valuable.

Status

First amendment approved 7-0 on September 21, 2026: rent starting at $36,000 after September 15, 2030, rising 3% a year for ten years. The city manager said the city gets about $3,400 less over the ten years but a guaranteed longer term.

Log

• 2026-09-21 - City Council - First amendment to the lease approved 7-0.
• 2026-09-09 - Personnel and Finance Committee - Committee heard the proposed extension ($36,000 start rising to $38,000; $412,000 over 10 years versus $416,000) and moved it to briefing.