...title
ITEM: RESOLUTION NO. R2024-20 (AMENDMENT TO THE COMPREHENSIVE AGREEMENT WITH ARCADIA INFRASTRUCTURE 1, LLC)
A RESOLUTION OF WELLINGTON, FLORIDA'S COUNCIL AUTHORIZING THE MAYOR TO EXECUTE AN AMENDMENT TO THE COMPREHENSIVE AGREEMENT WITH ARCADIA INFRASTRUCTURE I, LLC, A WHOLLY OWNED SUBSIDIARY OF ARCADIA TOWERS GROUP, LLC FOR THE MARKETING AND LEASE OF PROPERTIES OWNED BY WELLINGTON OR ACME IMPROVEMENT DISTRICT FOR THE PURPOSE OF DEVELOPING, CONSTRUCTING AND MAINTAINING COMMUNICATIONS FACILITIES; AND PROVIDING AN EFFECTIVE DATE.
REQUEST: Approve Resolution No. R2024-20, Amendment No. 1 to the Comprehensive Agreement with Arcadia Infrastructure 1, LLC, amending the terms of the agreement by reducing the revenue share for four tower locations from 30 percent to 20 percent.
...body
EXPLANATION: Wellington entered into a comprehensive agreement for the marketing and leasing of Village of Wellington or Acme Improvement District properties to develop, construct, and maintain communications facilities with Arcadia Infrastructure I, LLC, on May 10, 2023. One of the terms of the agreement is a revenue share for the lease rental to the carriers equal to 30 percent of the Monthly Gross Rental Revenue. Wellington has requested an enhanced design as a "stealth tripod" tower (vs a "slimline monopole" tower) for a better aesthetic for the proposed towers at Town Center, Greenbriar Park, Forest Hill Boulevard/Stribling Road, and Wellington Community Park. This stealth tower type is significantly greater in cost than a conventional stealth tower. The goal is to improve cellular coverage in Wellington and achieve a better aesthetic at certain locations. The proposed change to the revenue share from 30 percent to 20 percent for the three locations is supported by staff and represents a small reduction in the revenue share for these locations.
BUDGET AMENDMENT REQUIRED: NO
PUBLIC HEARING: NO QUASI-JUDICIAL:
FIRST READING: YES SECOND READING:
LEGAL SUF...
Click here for full text