A major tower company is offering a signing bonus to the Development Authority of Douglas County for the extension of its existing cell tower lease. However, the Authority is not quite willing to accept their current proposal. According to the Chairman of the DADC Board, “Technology will also affect the number of towers that are even needed to be built. Therefore the existing sites become more valuable, particularly as the demand for broadband goes. It’s just exploding – iPhones, iPads, things that people use that demand broadband communication.”
The Development Authority of Douglas County seems to be aware of the value of its cell tower site to the tower company. However, are they considering the terms set within the lease itself? The OVERALL value of the lease, not just the rent amount, should be taken into consideration. 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.