The township of Little Falls has received a request for proposal for construction of a new cell tower from a major wireless carrier. Many residents oppose the proposal due to a variety of concerns; however, the municipality views the offer as a solution to a few areas of need within the township. Not only does a new cell tower solve emergency communication issues, but, according to the township administrator, “It provides an annual revenue source to the township in perpetuity, both through the land lease to the main carrier as well as a percentage from each of the five co-locators.”
But has the city received a fair proposal and fair structure to the lease for the use of its property? What is the true value to the tower company for the use of its land? Vertical Consultants has worked with all types of property owners, including municipalities, who are being paid below-market value for the use of their property. The primary reason for this is the lack of information and representation provided for these entities. Ample information and representation from a true landowner advocate are key factors these industries need in order to optimize the use of their properties. Vertical Consultants has made its mission to provide our clients the data they need. While telecom companies have professionals on their side who know the true value of every tower site they control, property owners should have advocates working for them determining options to optimize their telecom assets.