From high atop the Minnesota community’s water tower, a collection of cell tower antennas keep the region connected. Thanks to the renewal of the cell carriers’ leases, the relationship will continue.
The Roseville City Council voted to extend the leases, a move that will also guarantee a healthy revenue stream for the city, reports LillieNews.com.
Verizon, for example, pays a rental fee of approximately $60,000 per year for its equipment. Thirteen other carriers also occupy the water tower.
Current fees are being negotiated, with a suggestion to set the starting rate around $38,400, subject to annual increases up to the ten year mark. A thirty year lease is also being presented as an option. The 140-foot tower is the highest point in the area by a large margin. Finance Director Chris Miller noted that Sprint and Verizon occupy the prime spots.
Council members discussed the town’s future needs and speculated about building additional structures. The existing water tower skirts the issue of zoning heights and variances, a topic that will surely come into play with further development. For now, the town figures to earn up to $440,000 for the next decade with just the water tower tenant fees.
May 2, 2019