The Algonquin Committee of the Whole will decide Tuesday whether to recommend approval of a five-year site lease agreement with Verizon Wireless at the Jacobs water tower.
Verizon Wireless plans to install and operate its telecommunications equipment, including antennas and necessary communications facilities, on the village’s water tower, 2600 Bunker Hill Drive, according to village documents.
In exchange for space on the tower and grounds, Verizon will make a $15,000 one-time payment for engineering and consultant reviews of its plans. In addition, Verizon pledges to pay attorney fees in association with the agreement up to $2,500.
If approved, Verizon will pay the village an annual rental fee of $20,000, with the fee increasing 3% each year.
The site lease agreement automatically would be extended for three successive five-year terms on the same terms and conditions, unless Verizon notifies the village in writing of its intention not to renew 120 days before the succeeding renewal term is set to begin.
In the 20th year, Verizon would pay the village a rental fee of $35,070.12. Village staff recommended Village Board approval of the agreement.
The committee also will decide whether to recommend that the board approve a Class F liquor license for Rainbow Restaurant and Pancake House, 1229 S. Main St., so beer and wine can be served. The meeting will be at 7:30 p.m. at the Ganek Municipal Center, 2200 Harnish Drive.
Fitness center up for consideration
On Monday night, the village’s Planning and Zoning Commission will consider a special use permit for a 24 Hour Fitness facility at 1621 S. Randall Road. No additional details were available Friday evening.