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Dylan Reingold, County Attorney <br />William K. DeBraal, Deputy County Attorney <br />Kate Pingolt Cotner, Assistant County Attorney <br />County A ttorney's Matteis - B.C.C. 11. 21.17 <br />Of ce of <br />INDIAN RIVER COUNTY <br />MEMORANDUM <br />TO: Board of County Commissioners <br />FROM: Kate Pingolt Cotner, Assistant County Attorney <br />DATE: November 15, 2017 <br />SUBJECT: Amendment to Hobart Tower Lease <br />ATTORNEY <br />1313 <br />BACKGROUND: In 2008, Indian River County ("County") entered into a license agreement ("Original <br />Agreement") with Global Tower Assets, LLC ("Global Assets"). The Original Agreement called for the <br />County to lease a certain portion of Hobart Park to Global Assets so it could construct a communications <br />tower. The Original Agreement was for a ten year term with the option to extend for 4 additional <br />extensions of five years. <br />GTP Towers I, LLC, the successor entity to Global Assets, contacted the County earlier this year <br />requesting an amendment to the Original Agreement in exchange for a $10,000 signing bonus. The <br />pertinent terms of the proposed amendment are: <br />• Except as modified by the amendment, the provisions of the Original Agreement remain in full force and effect <br />and are hereby ratified and affirmed; <br />• GTP Towers I, LLC, accepts the extension in the Original Agreement of 20 years and accepts <br />another extension of up to 15 years. This would make the underlying license agreement expire in <br />2053; <br />• The County promises to give GTP Towers 1, LLC, the right of first refusal if it desires or receives <br />an offer for the sale of the licensed property from a third party competitor of GTP Towers I, LLC; <br />and <br />• The County admits it has the authority to enter into the amendment to the license agreement. <br />RECOMMENDATION: <br />The County Attorney's Office recommends that the Board authorize Jason Brown, County Administrator <br />for Indian River County, to execute the amendment to the Original Agreement with GTP Towers I, LLC, <br />and the corresponding W-9. <br />ATTACHMENT(S). <br />First Amendment to the License Agreement for Hobart Tower. <br />P115 <br />