“Get The Check To The Bank”: City Gets $1.4 Million From Crown Castle

SHARE THIS ARTICLE

Share on facebook
Share on google
Share on twitter
Share on linkedin

The Hollister City Council last week approved a 50-year, $1.4 million lease with Crown Castle, which resulted in an upfront payment to the city, according to Benito Link. “This is an exciting agenda item and a long time coming,” said Development Services Director Bryan Swanson, adding that negotiations took over one year.

The city invoked the help of SteepSteel, who listed the city-owned tower on its auction site. 

The tower brought in three bids ranging from $850,000 to Crown Castle’s winning bid of $1.4 million, reported Benito Link. Hollister will retain ownership rights to the tower and land.

Swanson added, “If they [Crown Castle] expand the area up to 200 square feet and bring in more carriers for the tower, we get 50 percent of the revenue that those new tenants will generate.” As part of the lease, Crown Castle will also take on the responsibility for the tower and electronics, including maintenance.

July 1, 2019           

Reader Interactions

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.