Department
Real Estate and Asset Management
Requested Action
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Request approval of a Resolution approving the First Amendment to Ground Lease Agreement between Fulton County, Georgia (Landlord) and Cellco Partnership D/B/A Verizon Wireless (Tenant) for the lease of real property located at 266 Rawson Street, Atlanta, Georgia; authorizing the Chairman to execute the First Amendment and related documents; authorizing the County Attorney to approve the First Amendment and related documents as to form and to make modifications thereto prior to execution; and for other purposes.
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Requirement for Board Action
Pursuant to Fulton County Code (“FCC”) § 1-117, the Fulton County Board of Commissioners has exclusive jurisdiction and control over directing and controlling all the property of Fulton County, as they may deem expedient, according to law. FCC § 172-62 also permits the leasing of County-owned property for telecommunication towers upon approval by the Board of Commissioners and pursuant to the provisions of FCC § 172-62.
Strategic Priority Area related to this item
Open and Responsible Government
Commission Districts Affected
All Districts ☒
District 1 ☐
District 2 ☐
District 3 ☐
District 4 ☐
District 5 ☐
District 6 ☐
Is this a purchasing item?
No
Summary & Background
Scope of Work: CELLCO PARTNERSHIP D/B/A Verizon Wireless is seeking approval from the Fulton County Board of Commissioners to modify the terms of its lease of County-owned real property located at 266 Rawson Street, Atlanta, Georgia.
CELLCO PARTNERSHIP D/B/A Verizon Wireless and the Department of Real Estate and Asset Management (DREAM) have negotiated mutually acceptable rental terms that include an increase to the annual escalation rate and the monthly rental rate, a lump sum payment, and an extension to the lease term.
The initial base monthly rental payment will be $4,500.00, as of the effective lease agreement commencement date and for all permitted renewal terms the annual rental rate will increase by 3%, and the rental term will be automatically renewed, upon the same terms and conditions, for five (5) additional five (5) year terms.
Community Impact: CELLCO PARTNERSHIP D/B/A Verizon Wireless can avoid constructing an additional cellular antenna structure within the community by maintaining its cellular communication equipment at this location.
Department Recommendation: DREAM recommends approving the First Amendment to Ground Lease Agreement to formalize the negotiated rental terms with CELLCO PARTNERSHIP D/B/A Verizon Wireless at 266 Rawson Street Atlanta, Georgia.
Project Implications: A market analysis for available antenna space for cellular communications in the surrounding area supports an increase in the monthly rental rate. The approval of the First Amendment to Lease Agreement is required to keep rental revenue and to maintain optimum cellular services within the community.
Community Issues/Concerns: None
Department Issues/Concerns: The First Amendment to Ground Lease Agreement between Fulton County and CELLCO PARTNERSHIP D/B/A Verizon Wireless is a revenue lease agreement for the County.
Fiscal Impact / Funding Source
Annual rental incomes and all payments to be received from CELLCO PARTNERSHIP D/B/A Verizon Wireless will be deposited into Accounting Line 100-333-3333-5216.