HomeMy WebLinkAbout08-126 - ADMIN Resolution - City Council - 2008/10/06RESOLUTION NO. 08-126
RESOLUTION APPROVING LEASE AGREEMENT
FOR COMMUNICATIONS ANTENNA
WHEREAS, the City Council of the City of St. Louis Park wishes to enter into a non-
exclusive lease agreement with TTM Operating Corporation, Inc., (TTM) for the use of space at the
City water tower at 2541 Nevada Avenue; and
WHEREAS, the Director of Public Works or designee has negotiated a lease agreement with
terms acceptable to the City Council;
NOW, THEREFORE, BE IT RESOLVED that the Mayor and City Manager are hereby
authorized to enter into a lease agreement with TTM for the leasing of space at the City water tower
site located at 2541 Nevada Avenue for the purposes of a communication antenna and related base
equipment; and
BE IT FURTHER RESOLVED that such lease term shall be for a period of five (5) years
commencing immediately with the right of TTM to extend the initial term for four (4) additional
five (5) year terms with an initial term annual rent amount of $7,333 and a 5% annual escalation
each following year of the contract.
Reviewed ' • r Administration:
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Attest:
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ager
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Ciry Clerk
Adopt-• by the City Council October 6, 2008
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