City Extends Communications Tower Ground Lease
Burlington Housing AuthorityLocal Housing Authority · Burlington, NC- Disclosed value
- $17,622.12 per year with 3% annual increase, one-time payment of $30,000, plus 50% of sublease rents
- From agendapacket
- Document date
- Apr 5, 2022
- Renews
- Free account
The 30-second brief
The City of Burlington plans to amend its ground lease with American Tower Asset Sub, LLC for the Hawkins Street communications site, extending the term through 2042. The lease will generate annual rent with a 3% escalator, a $30,000 one-time payment, and 50% of sublease rents for the City.
American Tower Asset Sub LLC holds this facilities contract with Burlington Housing Authority. Its other public contracts on record include work for Borough of Somerdale and Kent County.
The renewal date is on record. A free account shows it, with the renewals for every Burlington Housing Authority contract.
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Contract details
- Contract type
- Facilities
- Amount
- $17,622.12 per year with 3% annual increase, one-time payment of $30,000, plus 50% of sublease rents
- Document date
- April 5, 2022
- Term
- Existing ground lease extended with three additional five-year renewal terms from July 1, 2027 to June 30, 2042
- Renews
- Free account
- Source document
- City of Burlington City Council Meeting Agenda Packet April 2022 (AgendaPacket)
American Tower Asset Sub LLC's other public contracts
More Burlington Housing Authority contracts
Questions about this contract
Who was awarded the facilities contract by Burlington Housing Authority?
American Tower Asset Sub LLC was awarded this facilities contract by Burlington Housing Authority, as recorded on April 5, 2022. The contract value is $17,622.12 per year with 3% annual increase, one-time payment of $30,000, plus 50% of sublease rents.
How much is the American Tower Asset Sub LLC contract with Burlington Housing Authority worth?
The American Tower Asset Sub LLC contract with Burlington Housing Authority is valued at $17,622.12 per year with 3% annual increase, one-time payment of $30,000, plus 50% of sublease rents, 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 City of Burlington City Council Meeting Agenda Packet April 2022 (AgendaPacket), dated April 5, 2022 from Burlington Housing Authority. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does American Tower Asset Sub LLC hold?
American Tower Asset Sub 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 Burlington Housing Authority currently buying?
Explore Burlington Housing Authority's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.