| | | | | | | |  | CITY OF PLANO
COUNCIL AGENDA ITEM |
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| | | | | | | | Council Meeting Date: 7/24/2017
Department: Gov Relations
Department Head: Brandi Youngkin
Agenda Coordinator: Jennifer Morvant |
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CAPTION
To approve the terms and conditions of a Second Amendment to Communications Facilities License by and between the City of Plano, Texas, and Sprint Spectrum Realty Company, LLC, a Delaware limited liability company, authorizing its execution by the City Manager; and providing an effective date. Approved |
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FINANCIAL SUMMARY Revenue
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| FISCAL YEAR: 2016-17 thru 2028-29 |
Prior Year
(CIP Only) |
Current
Year
|
Future
Years
|
TOTALS |
| Budget |
0 |
0 |
0 |
0 |
| Encumbered/Expended Amount |
0 |
0 |
0 |
0 |
| This Item |
0 |
26,988 |
663,665 |
690,653 |
| Balance |
0 |
26,988 |
663,665 |
690,653 |
FUND(S): Water & Sewer Fund
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COMMENTS: This item is to approve a Second Amendment to Communications Facilities License to increase the rental fee from $1,942 to $3,783 per month beginning in August 2017. The agreement includes an annual rental fee increase of 3% for each of the remaining years. The annual revenue for 2016-17 Budget year is $26,988. The future revenue from 2017-18 through 2028-29 Budget years is an estimated $663,665. |
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SUMMARY OF ITEM
Approval of this item amends an existing Communications Facilities License originally approved by City Council on September 15, 1998, and a First Amendment to Communications Facilities License on February 25, 2013, modifying rental fees and updating equipment.
Strategic Plan Goal:
Financially Strong City with Service Excellence, Partnering for Community Benefit
Plano Tomorrow Plan Pillar:
Economic Environment |
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