Site License Agreement with Verizon for Talbert Park Cell Site City Council
December 17, 2024
Background
In 2002, the City, Verizon, and SCE agreed to let Verizon install cell equipment at Talbert Park.
SCE withdrew from the agreement in 2022.
The previous agreement expired on November 18, 2023.
A new agreement was negotiated over two years to reflect updated terms and conditions.
Summary of the New Agreement
Term: 5 years, starting November 18, 2023, with four 5-year extension options.
Rent: Increases from $1,471.36 to $3,500.00 per month, with a 4% annual increase.
One-Time Payment: $20,000 at signing.
Verizon must maintain a separate agreement with SCE for antenna use.
Financial Impact
Increased Revenue:
Monthly rent: $3,500.00, generating $42,000 annually.
One-time payment: $20,000.
Total projected revenue over the agreement’s lifetime: $1,769,128.15.
Recommended Action
Approve the updated Site License Agreement.
Authorize the Mayor and City Clerk to sign the agreement.
Questions?