Pontiac Discusses Vertical Bridge Cell Tower Lease Buyout
City of Pontiac cityCity · Pontiac, IL- Disclosed value
- Option 1: $250,000 cash; Option 2: $275,000 over 5 years at $55,000 per year; Option 3: $300,000 over 10 years at $30,000 per year; current lease: $1,500 per month for 5 years with a 10% escalator every 5 years
- From minutes
- Document date
- Feb 18, 2026
- Renews
- Free account
The 30-second brief
The City of Pontiac discussed Vertical Bridge’s proposal to buy out its cell tower lease in exchange for a permanent easement at 102 S. Pearl St. Options ranged from $250,000 cash to $300,000 paid over 10 years, but the committee indicated it would consider a $400,000 counterproposal instead.
Vertical Bridge holds this facilities contract with City of Pontiac city. Its other public contracts on record include work for Upper Moreland Hatboro Joint Sewer Authority and City of North Little Rock.
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Contract details
- Contract type
- Facilities
- Amount
- Option 1: $250,000 cash; Option 2: $275,000 over 5 years at $55,000 per year; Option 3: $300,000 over 10 years at $30,000 per year; current lease: $1,500 per month for 5 years with a 10% escalator every 5 years
- Document date
- February 18, 2026
- Term
- Lease options through 2073; proposed buyout terms of cash, 5 years, or 10 years
- Renews
- On record
- Vendor
- Vertical Bridge
- Agency
- City of Pontiac city
- Source document
- Pontiac Finance and Administration Committee Minutes 2026-02-18 (Minutes)
Vertical Bridge's other public contracts
More City of Pontiac city contracts
Questions about this contract
Who was awarded the facilities contract by City of Pontiac city?
Vertical Bridge was awarded this facilities contract by City of Pontiac city, as recorded on February 18, 2026. The contract value is Option 1: $250,000 cash; Option 2: $275,000 over 5 years at $55,000 per year; Option 3: $300,000 over 10 years at $30,000 per year; current lease: $1,500 per month for 5 years with a 10% escalator every 5 years.
How much is the Vertical Bridge contract with City of Pontiac city worth?
The Vertical Bridge contract with City of Pontiac city is valued at Option 1: $250,000 cash; Option 2: $275,000 over 5 years at $55,000 per year; Option 3: $300,000 over 10 years at $30,000 per year; current lease: $1,500 per month for 5 years with a 10% escalator every 5 years, covering facilities work.
What type of contract is this?
This is a Facilities contract, documented as a minutes record.
Where was this contract approved?
This contract appears in Pontiac Finance and Administration Committee Minutes 2026-02-18 (Minutes), dated February 18, 2026 from City of Pontiac city. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Vertical Bridge hold?
Vertical Bridge 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 Pontiac city currently buying?
Explore City of Pontiac city's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.
