LICENSEAPPROVED

Yutan City Council Agenda April 21 2026

Yutan approves Verizon water tower lease agreement

$18,000.00 per year, with 1.5% annual escalationCity of YutanALLTEL CORPORATION DBA VERIZON WIRELESSApril 18, 2026

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Description

The Yutan City Council is set to approve Resolution 2026-06 authorizing a Water Tower Lease Agreement with Alltel Corporation d/b/a Verizon Wireless for wireless communications equipment on the City’s water tower at 403 5th Street. Verizon will pay initial annual rent of $18,000 with 1.5% yearly increases over an initial 5-year term, with four optional 5-year renewals for a total potential 25-year lease.

Contract Details

Contract Amount

$18,000.00 per year, with 1.5% annual escalation

Vendor

ALLTEL CORPORATION DBA VERIZON WIRELESS

Agency

City of Yutan, NE

Contract Type

LICENSE

Document Date

April 18, 2026

Contract Term

Initial 5-year term beginning on the first day of the month after equipment installation, with four additional 5-year extension options (total potential term of 25 years)

Renewal Info

Lease has an initial 5-year term starting the month after equipment installation, with four automatic 5-year extension terms unless Verizon gives 3-month written notice before the end of a term. Rent escalates 1.5% annually throughout the term, and Verizon may terminate at each annual anniversary with 3 months’ notice.

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