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UTILITIES COMMISSION MEETING <br />TO: FROM: <br />Elk River Municipal Utilities Commission David Berg -Water Superintendent <br />John Dietz, Chair <br />Jerry Gumphrey, Vice Chair <br />D 1 Thom son, Trustee <br />MEETING DATE: AGENDA ITEM NUMBER: <br />Jul 13 2010 <br />SUBJECT: <br />S rint's new Financial Polic <br />Unfortunately due to Sprint's new fmancial policy with escalation, combined with their <br />corporate budget constraints, Sprint needs to have the annual escalation changed to 4% <br />without any changes to the starting base rent of $23,000.00/yr. Sprint corporate is <br />requesting for the ERMU boazd to re-approve the 3 leases at 4% annual escalation <br />(vs.5%). That would be the only change to the current lease agreement. In the future, <br />Sprint would like to add another antenna or more equipment; this would give ERMU the <br />chance to negotiate back to a 5% increase as originally planned. <br />