Cell tower lease will double township revenue
By Kevin Elliott
Bloomfield Township will more than double its income from a lease agreement approved at the township board of trustees meeting on Monday, December 12, with Verizon for use of a 200-foot cell tower on township property near Exeter and Andover roads.
Bloomfield Township Treasurer Brian Kepes said the tower was built in 1992, and was originally occupied by Detroit Cellular (now Verizon), AT&T and Sprint. The tower is now 98-percent occupied, in terms of capacity.
Kepes said the new contract will go into effect on January 1, 2023, which will raise the monthly lease from $3,100 to $6,500 per month, or about $45,500 more per year for the township. Additionally, Verizon will contribute $130,000 to the township upon commencement of the lease, which will be used for capital costs. Verizon will also provide the township with four underground conduits providing fiber optic service.
“The township provides the space ‘as is,’ and Verizon has no ability for early termination of the lease,” Kepes said.
He said the seven-year, fixed lease also provides for a four-percent increase in rent each year.
The board unanimously approved the contract.