FACILITIESPENDING

Kenai Peninsula Borough Planning Commission Meeting Agenda May 2026

Borough Weighs Tower Site Lease With Vertical Bridge

$4,000/month (approximately $48,000 annually), 3% annual escalation plus 33% of sublease rents (excluding one anchor tenant)Borough of Kenai PeninsulaVERTICAL BRIDGE S3 ASSETS LLCMay 11, 2026

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Description

The Kenai Peninsula Borough is considering a new communications site lease with Vertical Bridge S3 Assets, LLC for an existing tower site in Kenai at $4,000 per month plus revenue sharing. The agreement would run for five years with four optional five‑year renewals and reserves tower space for borough communications needs.

Contract Details

Contract Amount

$4,000/month (approximately $48,000 annually), 3% annual escalation plus 33% of sublease rents (excluding one anchor tenant)

Vendor

VERTICAL BRIDGE S3 ASSETS LLC

Agency

Borough of Kenai Peninsula, AK

Contract Type

FACILITIES

Document Date

May 11, 2026

Contract Term

Initial 5-year term commencing on Effective Date with four consecutive 5-year renewal options; holdover up to 12 months at 150% rent

Renewal Info

Lessee may exercise four additional 5-year renewal terms automatically unless notice of non-renewal is given at least 30 days before term end. Holdover tenancy allowed up to 12 months at 150% of the then-current rent while parties negotiate further extension or renewal.