Enclosed is Amendment No. 1 to the original Telecommunications Raceway Lease Agreement. The original agreement was signed February 7, 2018. Amendment No. 1 will allow Visionary Communications, Inc. to lease additional fiber optic raceway in the City of Gillette's multi-raceway fiber optic backhaul system. Visionary will install fiber optic cable in the City's raceway system to serve their customers.
Per the terms of the original agreement, the City will lease its raceway at a unit cost of $0.47 per lineal foot for Visionary to install their fiber optic cable. Upon execution of Amendment No. 1, the annual lease revenue will increase by an estimated $21,700.00. |