preview

The Parks And Recreation Department

Better Essays

The Parks and Recreation Department (“Parks”) seeks direction regarding a staff recommendation to enter into a new lease agreement with the existing lessee, American Tower Corporation, formerly American Tower Systems, Inc., a Real Estate Investment Trust ("REIT") with its principal place of business located at 116 Huntington Ave. 11th Floor, Boston, Massachusetts, 02116 ("American Tower"). American Tower acquired its leasehold interest in an existing telecommunications tower located in Santa Teresa County Park, Coyote Peak by an assignment of the lease in 1997. The Lease expired on July 1, 2016_ and American Tower currently American Tower is a holdover tenant operating at this site on a month to month basis.

As explained herein below, Parks Staff recommends negotiation of a new lease with American Tower in lieu of issuance of a Request for Proposals to seek out new tenants.

The County entered into an original lease for this communication tower with BayCom San Jose, L.P. (BayCom) in 1996. In 1997 the lease was assigned to American Tower.

American Tower has generally complied with lease provisions but American Tower has been delinquent in the timely payment of rent on a few occasions. American Tower staff intends to modify the lease terms to provide additional assurances for timely payment and deterrence for late payment.

As consideration for this new lease, American Tower has expressed interest in considering the transfer to the County of its fee interest in real

Get Access