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months instead of $4,000). The change from lump sum to monthly payments is easier for Verizon <br />Wireless to administer. <br /> <br />This change means there will be no excess rent for the city to retain if the lease is terminated by the lessee <br />early. There is no financial disincentive to terminating early. <br /> <br />The lease has also been updated to clarify that the EDA may assign the lease (and rent) to any buyer of <br />the property, should it be sold during the time that Verizon Wireless is occupying the property. <br /> <br />City approval of the IUP does not give Verizon Wireless the authorization to install any temporary <br />structures on the property without an executed lease, and vice versa. <br /> <br />Financial Impact <br />A temporary lease will add $700 per month in the general EDA Fund. <br /> <br />Attachments <br /> Aerial Photo of Site <br /> Temporary site lease agreement <br /> Site Plan <br /> <br />