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| DATE:
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1/16/2024 6:00:00 PM |
| SUBJECT: |
Council Consideration to Authorize the Mayor to Sign Amendment No. 14 of the Telecommunications Raceway Lease Agreement Between the City of Gillette and Visionary Communications, Inc. |
| BACKGROUND: |
| Amendment No. 14 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 Communications, Inc. 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. 14 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 $0.56121 per lineal foot with an inflationary increase of 3% per calendar year. Upon execution of Amendment No. 14, the annual lease revenue will increase by an estimated $2,135.40. |
| SUGGESTED MOTION: |
I Move for Approval to Authorize the Mayor to Sign Amendment No. 14 to the Telecommunications Raceway Lease Agreement Between the City of Gillette and Visionary Communications, Inc. |
| STAFF REFERENCE: |
Joff J. Pilon, P.E., Utilities Director
Sean Brown, City Attorney |
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