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| DATE:
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11/19/2019 7:00:00 PM |
| SUBJECT: |
| Council Consideration to Authorize the Mayor to Sign Amendment No. 4 of the Telecommunications Raceway Lease Agreement Between the City of Gillette and Visionary Communications, Inc. |
| BACKGROUND: |
| Amendment No. 4 to the original Telecommunications Raceway Lease Agreement, signed February 7, 2018, will allow Visionary Communications, Inc. to lease additional fiber optic raceway in the City of Gillette's multi-raceway fiber optic back haul system. Visionary will install fiber optic cable in the City's raceway system to serve their customers. |
| ACTUAL COST VS. BUDGET: |
Revenue received from the Telecommunications Raceway Lease Amendment No. 4 shall be deposited in the City's Fiber Fund No. 506.
Per the terms of the Agreement, the City will lease its raceway at a unit cost of $0.4841 per lineal foot with an inflationary increase of 3% per calendar year. Upon execution of Amendment No. 4, the annual lease revenue will increase by an estimated $6,779.00. |
| SUGGESTED MOTION: |
| I Move for Approval to Authorize the Mayor to Sign Amendment No. 4 to the Telecommunications Raceway Lease Agreement between the City of Gillette and Visionary Communications, Inc. |
| STAFF REFERENCE: |
| Michael H. Cole, P.E., Utilities Director; Anthony M. Reyes, City Attorney |
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