SUBJECT
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Approval of a First Amendment to Rooftop License Agreement between Pinnacle Towers III, LLC, a Delaware limited liability company, and the City of Laredo for the use of space at the Hamilton Hotel for the purposes of IT connectivity.
The initial term of this agreement will be five years commencing on July 31, 2024 and ending on July 30, 2029; term shall automatically extend for two renewal periods of five years each unless either party provides written notice to the other of its election not to renew 180 days prior to the end of the current term. Rent shall be 718.92 cents per month with a CPI increase on every anniversary of such date thereafter.
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PREVIOUS COUNCIL ACTION
City Council on 09/08/09 approved this License Agreement.
BACKGROUND
Request to approve the renewal of a License Agreement with Pinnacle Towers, III, LLC in the amount of $718.92 per month for telecom space on the roof of the Hamilton Hotel. Leased space is used to place network antennas that interconnect City of Laredo facilities with one another for the purposes of IT connectivity.
COMMITTEE RECOMMENDATION
N/A
STAFF RECOMMENDATION
recommendation
Staff recommends approval.
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Fiscal Impact
Fiscal Year: 2025
Budgeted Y/N?: Y
Source of Funds: Information Technology Fund
Account #: 595-5536-513-3710
Change Order: Exceeds 25% Y/N: N
FINANCIAL IMPACT:
Rent shall be seven hundred eighteen and 92/100 ($718.92) per month with a CPI increase on the first anniversary of the term commencement date and every anniversary of such date thereafter. Funding is available in the Information Technology Fund Account Number 595-5536-513-3710.