Spencer Weighs 25-Year Cell Tower Ground Lease
Town of SpencerCity · NC- Disclosed value
- $1,200/month, increased by 3% per year, for a potential 25-year revenue stream; $1,000 initial option consideration plus $1,000 for any 18‑month option renewal term
- From agendapacket
- Document date
- Apr 14, 2026
The 30-second brief
The Town of Spencer is considering an option and ground lease with Diamond Towers V LLC for a wireless communications tower on Town-owned land at 600 Sowers Ferry Road. The agreement would provide approximately $1,200 per month in rent with 3% annual increases over a potential 25-year term, in exchange for leasing roughly 5,625 square feet plus access and utility easements.
Diamond Towers V LLC holds this facilities contract with Town of Spencer. Its other public contracts on record include work for Township of Long Hill and Anna Independent School District.
Term as filed: Option: initial 18 months with one 18‑month renewal; Lease: initial 5-year term with four 5-year renewal terms (potential total 25 years) plus any month‑to‑month holdover.
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Contract details
- Contract type
- Facilities
- Amount
- $1,200/month, increased by 3% per year, for a potential 25-year revenue stream; $1,000 initial option consideration plus $1,000 for any 18‑month option renewal term
- Document date
- April 14, 2026
- Term
- Option: initial 18 months with one 18‑month renewal; Lease: initial 5-year term with four 5-year renewal terms (potential total 25 years) plus any month‑to‑month holdover
- Vendor
- Diamond Towers V LLC
- Agency
- Town of Spencer
- Source document
- Town of Spencer Board of Aldermen Regular Meeting Agenda Packet April 14, 2026 (AgendaPacket)
Diamond Towers V LLC's other public contracts
More Town of Spencer contracts
Questions about this contract
Who was awarded the facilities contract by Town of Spencer?
Diamond Towers V LLC was awarded this facilities contract by Town of Spencer, as recorded on April 14, 2026. The contract value is $1,200/month, increased by 3% per year, for a potential 25-year revenue stream; $1,000 initial option consideration plus $1,000 for any 18‑month option renewal term.
How much is the Diamond Towers V LLC contract with Town of Spencer worth?
The Diamond Towers V LLC contract with Town of Spencer is valued at $1,200/month, increased by 3% per year, for a potential 25-year revenue stream; $1,000 initial option consideration plus $1,000 for any 18‑month option renewal term, covering facilities work.
What type of contract is this?
This is a Facilities contract, documented as a agendapacket record.
Where was this contract approved?
This contract appears in Town of Spencer Board of Aldermen Regular Meeting Agenda Packet April 14, 2026 (AgendaPacket), dated April 14, 2026 from Town of Spencer. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Diamond Towers V LLC hold?
Diamond Towers V LLC may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Town of Spencer currently buying?
Explore Town of Spencer's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.
