ACTION REQUESTED:
Title
Communication from the City Manager and the Corporation Counsel with a Request to APPROVE the Ground Lease AGREEMENT between SPRINGDALE CEMETERY and PI TOWER DEVELOPMENT, LLC and to Authorize the City Manager to Execute the Necessary Documents.
Body
BACKGROUND: PI Tower has negotiated with Springdale Cemetery Management Authority to construct a monopole cell tower on a leased site located next to the Cemetery main office at 3014 N. Prospect Rd. Said tower project has been previously approved by the Historic Preservation Commission; passed through the Zoning Board with a recommendation to Council for approval. The Springdale Cemetery Management Authority desires to enter into this Agreement.
FINANCIAL IMPACT: The Cemetery will be receiving $24,000.00 annually in rent. Said rent will be annually increased by 3%, and the Cemetery will receive 20% of the rents collected for tower tenants above and beyond the initial tower tenant (Verizon).
NEIGHBORHOOD CONCERNS: N/A
IMPACT IF APPROVED: The Cemetery will receive lease income from the PI Tower Development LLC with little or no impact on Cemetery operations or aesthetics. Mobile technology users will experience better, more consistent signal coverage.
IMPACT IF DENIED: Cemetery will not be able to realize the income from the leased space, and mobile tech users will not experience the improved signal coverage.
ALTERNATIVES: N/A
EEO CERTIFICATION NUMBER: N/A
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL’S 2014 - 2029 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Financially Sound City Government, Effective City Organization
2. Grow Peoria: Businesses, Jobs, and Population
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Invest in our infrastructure and transportation.
2. Keep taxes and fees competitive.
DEPARTMENT: Legal