TITLE
Title
LEASE OF ANTENNA SPACE AT 1002 MEADOWOOD STREET, GREENSBORO, NC
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SPONSOR
Sponsor
Robert McNiece
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BACKGROUND
Background
SPRINTCOM Inc. and Guilford County entered into a lease of antenna space on the tower located at the Guilford County Emergency Services and Juvenile Detention Home property, located at 1002 Meadowood Street in Greensboro, NC, with an initial term of five (5) years and two (2) five-year extensions on August 23, 2001, with the final extension expiring on August 23, 2016. SPRINTCOM Inc. wishes to continue this arrangement with a new five (5) year lease agreement, with two (2) five-year renewal options. The new lease rate ($23,870.19/annually) represents a 15% increase in compensation from the current lease rate ($20,756.69/annually). In addition, each five (5) year renewal option will have a 2.5% rate escalation.
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BUDGET IMPACT
Budget Impact
NO ADDITIONAL COUNTY FUNDS REQUIRED
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REQUESTED ACTION
Requested Action
Approve, in substantial form, a five (5) year lease agreement, with the option for two (2) five-year renewals, for rental of antenna space on the existing tower located at 1002 Meadowood Street, Greensboro, NC, and authorize staff to take all reasonable actions to finalize and execute said lease.
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