Southeastern Oakland County Water Authority Regular Meeting Agenda February 2026
TowerPoint Proposes Wireless Lease Buyout for SOCWA Samoset Tank
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Description
TowerPoint Acquisitions has submitted a proposal to SOCWA to purchase its AT&T wireless site lease on the Samoset tank, offering $250,000 lump sum or multi-year payments and revenue sharing over a 99-year easement. The agreement is pending Board consideration and due diligence.
Contract Details
Contract Amount
$250,000 (lump sum), $275,000 over 5 years, or $300,000 over 10 years (pending)
Vendor
TOWERPOINT ACQUISITIONS LLC
Agency
Southeastern Oakland County Water Authority, MI
Contract Type
OTHER
Document Date
February 11, 2026
Contract Term
99 years (proposed telecommunications easement)
Renewal Info
Current AT&T lease continues until assignment; if deal is consummated, TowerPoint holds a 99-year easement and administers lease. Proposal includes revenue share for new tenants.
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approvedIssuing Agency
Southeastern Oakland County Water Authority
Special District
Royal Oak, MI
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