OTHERAMENDED

placentia_city_council_regular_meeting_agenda_dece.pdf

City Amends Verizon Wireless Lease at Wagner Park

$75,000 one-time prepayment; $2,300/month starting 1/1/2028 with 10% increases every five years starting 7/1/2030City of PlacentiaLOS ANGELES SMSA LIMITED PARTNERSHIP DBA VERIZON WIRELESSDecember 16, 2025

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Description

The City Council will amend its lease with Los Angeles SMSA Limited Partnership dba Verizon Wireless for a wireless facility at Wagner Park, adding a $75,000 rent prepayment for 2026–2027 and setting monthly rent at $2,300 from January 1, 2028 with 10% increases every five years. The agreement preserves four additional five-year renewal options for the wireless carrier.

Contract Details

Contract Amount

$75,000 one-time prepayment; $2,300/month starting 1/1/2028 with 10% increases every five years starting 7/1/2030

Vendor

LOS ANGELES SMSA LIMITED PARTNERSHIP DBA VERIZON WIRELESS

Agency

City of Placentia, CA

Contract Type

OTHER

Document Date

December 16, 2025

Contract Term

One-time rent prepayment covering January 1, 2026 through December 31, 2027; updated rent terms beginning January 1, 2028; four additional five-year renewal options

Renewal Date

2050-07-01

Renewal Info

Existing lease is amended to include a $75,000 rent prepayment for 2026–2027 and updated rent schedule from 2028 onward while maintaining four additional five-year renewal options.

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