Council extends lease for telecommunications tower

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The city of Woodbury extended a telecommunications tower lease 15 years and raised the rent it collects on the tower.

City council members Sept. 23 approved the new agreement between the city and STC Five LLC, which owns the tower at Colby Lake Park. The lease expiration was extended from 2022 to 2037.

STC agreed to pay more in exchange for the extension. As a result, the city will collect $27,844 in lease revenue this year, up $3,600 from what it expected to receive before the new agreement was reached. Three other companies also pay to use the tower, putting the city’s total lease collection for the facility at over $59,000 annually.

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