CITY OF ORLANDO
COUNCIL AGENDA ITEM

Items Types:
Business and Financial Services 		For Meeting of:
January 12, 2015
District: 4 From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No
Subject:
Agreement for Assignment of Lease, Amendment One to Lease Agreement and Memorandum to Lease for Light Pole/Wireless Antenna Communication Facility on City Property located at 1220 E. South St.
Summary:
AT&T executed a lease with the City of Orlando on April 17, 2000 for the erection of a Light Pole/Wireless Antenna facility at 1220 E. South St. and proposes the City accept the assignment of this lease to MPL Tower Holdings, LLC, an entity of AT&T.
AT&T also proposes the amendment of the Lease Agreement to add renewal options.  The current lease is set to expire April 30, 2015.  This amendment will include three (3) five (5) year renewal options ending on April 30, 2030.    When the first option is exercised on May 1, 2015, the annual rent will be Thirty Thousand, Eight Hundred Eighty Six and 94/100 Dollars ($30,886.94) and will escalate 4% annually for the term of the lease options. The Amendment also requires additional consideration in the amount of $5,000.00 to be paid one time within 60 days following the final execution of this Amendment.
Fiscal & Efficiency Data: Attached
Recommended Action:
Approval and authorization for the Mayor/Pro Tem and City Clerk to execute the Agreement, Amendment and Memorandum, substantially in the form attached, and approval and authorization, without further City Council approval, for the Real Estate Division Manager to execute additional extension options referenced herein, so long as such approvals are in conformance with the terms and conditions of the Amendment, all subject to the review and approval of the City Attorney's Office. 
Agenda Item attachment(s) on file in the City Clerks Office.
Note: All agenda items must be in the City Clerk's office by Noon Friday, six(6) business days prior to the regular Monday City Council meeting.
Contact: Rose Melillo
Approved By:

Department Date and Time
Budget Outside Routing Approval 1/2/2015 11:01 AM
City Clerk 1/2/2015 11:19 AM
ATTACHMENTS:
Name: Description: Type:
Assignment_Agrmt_to_Lease_12.2014.pdf Assignment Agrmt to Lease Backup Material
Executed_Amendment_One_Memo_12.2014.pdf Amendment One / Memorandum Backup Material
AT_T-South_St_Lease.pdf Lease Backup Material
Fiscal_Impact_1220_E._South_St.doc Fiscal Impact Backup Material
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