The Port Commission in Shelby County has agreed to a cell tower proposal from a tower company. The cell tower is to be constructed at an Industrial Park and its profits would be split between the Shelby County Port Commission and the owners of the Industrial Park. According to the Memphis Business Journal, regarding the tower income production, “If three companies utilized the system, as expected, the commission would get $37,900 a year. A maximum of four companies could use it, giving $50,000 annually.”
Now that the cell tower has been given the go-ahead, it is important that the commission and the owners of the industrial park seek counsel prior to signing any agreement with the tower company. They must make sure they find out the true value for the use of their land, including not only rental amount, but also any revenue sharing produced from co-locator income. Vertical Consultants has worked with all types of property owners, including private companies and municipalities, who are being paid below-market value for the use of their property.