City Plans 15-Year Extension of Tower Lease
City of Burlington cityCity · NC- Disclosed value
- $17,622.12 per year with 3% annual increase plus one-time $30,000 payment and 50% of sublease rents
- From agenda
- 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 tower, adding three five-year renewal options from 2027 to 2042. The amended lease will pay the City $17,622.12 per year with 3% annual increases, plus a $30,000 one-time payment and 50% of sublease rents.
American Tower Asset Sub LLC holds this facilities contract with City of Burlington city. 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 City of Burlington city contract.
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Contract details
- Contract type
- Facilities
- Amount
- $17,622.12 per year with 3% annual increase plus one-time $30,000 payment and 50% of sublease rents
- Document date
- April 5, 2022
- Term
- Existing lease extended with three additional five-year renewal terms from July 1, 2027 through June 30, 2042
- Renews
- Free account
- Agency
- City of Burlington city
- Source document
- City of Burlington City Council Meeting Agenda April 5, 2022 (Agenda)
American Tower Asset Sub LLC's other public contracts
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Questions about this contract
Who was awarded the facilities contract by City of Burlington city?
American Tower Asset Sub LLC was awarded this facilities contract by City of Burlington city, as recorded on April 5, 2022. The contract value is $17,622.12 per year with 3% annual increase plus one-time $30,000 payment and 50% of sublease rents.
How much is the American Tower Asset Sub LLC contract with City of Burlington city worth?
The American Tower Asset Sub LLC contract with City of Burlington city is valued at $17,622.12 per year with 3% annual increase plus one-time $30,000 payment and 50% of sublease rents, covering facilities work.
What type of contract is this?
This is a Facilities contract, documented as a agenda record.
Where was this contract approved?
This contract appears in City of Burlington City Council Meeting Agenda April 5, 2022 (Agenda), dated April 5, 2022 from City of Burlington city. 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 City of Burlington city currently buying?
Explore City of Burlington city's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.