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TO AUTHORIZE THE MAYOR TO ENTER INTO "FIRST AMENDMENT TO PCS SITE AGREEMENT" AND "MEMORANDUM OF AGREEMENT" WITH GLOBAL SIGNAL ACQUISITIONS II LLC, TO EXTEND LEASE ON THE CELL TOWER AT THE GAHANNA SERVICE COMPLEX, 156 OKLAHOMA AVENUE.
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WHEREAS, Global Signal Acquisitions, would like to extend their lease by 15 years on the cell tower located at 156 Oklahoma Avenue so that they can guarantee 30 years when marketing this tower to shared tenants; and
WHEREAS, the City would continue to increase lease revenue in 5 year increments by 15% ; and
WHEREAS, the City would continue to receive 50% of the shared tenant revenue and a one-time extension incentive of $5,000; and
WHEREAS, the Director of Public Service has recommended we proceed to enter into this extension;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, STATE OF OHIO:
Section 1. That the Mayor is hereby authorized to enter into "First Amendment to PCS Site Agreement" and "Memorandum of Agreement" with GLOBAL SIGNAL ACQUISITIONS II LLC, 2000 Corporate Drive, Canonsburg, PA 15317, for a 15 year lease extension on the cell tower at 156 Oklahoma Avenue; said Agreement and Memorandum attached hereto as EXHIBITS A & B and made a part herein.
Section 2. That this Ordinance shall be in full force and effect upon passage by this Council and 30 days after date signature approval by the Mayor.