Vital Statistics: county gets $600/month with escalators plus $150/month per new tenant
TowerCo has gotten one step closer to building a cell tower along the coast of South Carolina near Pawleys Island. On second reading, the Georgetown County Council approved an ordinance authorizing the construction of a 150-foot cell tower near a fire station, reports South Strand News.
A third reading is scheduled for later this month, after which TowerCo will take the ordinance back to the county’s Planning Commission. The company must have the proposed lease property rezoned from planned development to forest and agricultural zoning, because the latter allows for cell towers, and the County Council must also approve that process in three readings.
“It is just an unusual sequence of events because the company is leasing the property from the county,” said County Planning Director Boyd Johnson in a recently published article by South Strand News.
Under the proposed lease agreement, TowerCo will pay a monthly lease rate of $600 per month with annual increases. TowerCo also agreed to pay the county $150 per month for each future tenant on the structure, after the anchor tenant, as well as offered two free spaces on the proposed structure to the county for emergency radio equipment, according to TowerCo director of business development Brad Wallace.
“This represents valuable space that we would normally market to paying tenants,” Wallace told South Strand News.
February 22, 2017
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