Fairmont Park in New Haven, Connecticut may become home for a new cell tower in the near future. The park itself has been neglected and could use the additional revenue to spruce up its grounds. According to Mayoral spokeswoman, Anna Mariotti, “the proposal has been submitted by a law firm on behalf of T Mobile, which wants to build the tower in the park in exchange for a monthly $2,200 payment. By the terms of the proposal, the money would go to the Parks Commission, with a 3 percent annual escalation. The money would be available for use making improvements in Fairmont Park, but not be limited to Fairmont.”
The question is if the city has received a fair proposal for the use of its park property to house the cell tower. What is the true value to the tower company for the use of park 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.