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Cell tower lease renewals to generate $750,000 for city

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The Germantown Board of Mayor and Aldermen has agreed to renew five lease agreements for wireless transmission facilities that will generate around $750,000 for the city over the next 25 years.

Board members unanimously approved the lease agreements Monday night during their regularly scheduled meeting.

The new lease agreements with SBA Properties for access to city properties will not affect the structures at Poplar Estates Park, Germantown Fire Station No. 4, Hailey Park, Cloyes Park and the Germantown Police Station.

The agreements are through 2043. Rent for the wireless facilities, which consist of cellular telephone antennas and associated equipment, is between $125,000 and $183,000 over the term.

“This is an approximately $750,000 revenue enhancement over the life of the leases for the city,” said Mayor Mike Palazzolo.