COUNCIL COMMUNICATION
TO: Honorable Mayor and Council
FROM: Kelly Garry, City Attorney
SUBJECT:Title
Action: Amendment No. 2 to the Land Lease Agreement with Steven Greeley, d/b/a KJJJ/KNTR AM Radio, to Renew the Lease for the Operation and Maintenance of an Existing Broadcast Tower Located at 900 London Bridge Road (Kelly Garry)
Body
FUNDING SOURCE:
N/A
PURPOSE:
To consider approving Amendment No. 2 to the Land Lease Agreement for an additional five-year term for the operation and maintenance of an existing 250’ lighted guyed AM broadcast tower located at 900 London Bridge Road.
BACKGROUND:
On July 1, 2004, Mr. Greeley entered into a Sub-Lease Agreement with the Lake Havasu Unified School District No. 1 (“District”) to build, operate, and maintain a Broadcast Tower at 900 London Bridge Road. On December 31, 2015, the Lake Havasu Unified School District No. 1 vacated the premises at 900 London Bridge Road, owned by the City and leased to the District, resulting in the City negotiating a lease agreement directly with Mr. Greeley for the tower.
The Land Lease Agreement was for an initial term of five years with an option to renew for up to three additional five-year terms. Amendment No. 1 extended the Land Lease Agreement until May 24, 2026. Mr. Greeley would like to exercise the second renewal. The proposed Amendment No. 2 would extend the Land Lease for another five-year term until May 24, 2031. All other terms and conditions of the Agreement will remain the same.
COMMUNITY IMPACT:
Renewal of this lease allows the continued operation of the broadcast tower.
FISCAL IMPACT:
The current rent is $1,381.73 per month, which will increase to $1,437.00 in June. A four percent increase is applied on each annual anniversary.
ATTACHMENTS:
Amendment No. 2
Land Lease Agreement
SUGGESTED MOTION:Recommended Action
I move to appove Amendment No. 2 to the Land Lease Agreement with Steven Greeley, d/b/a KJJJ/KNTR AM Radio, to renew the lease for an additional five years.