The Algonquin Village Board will decide Tuesday whether to approve a five-year site lease agreement with Verizon Wireless at the Jacobs High School 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.
The Committee of the Whole recommended approval earlier this month.
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.
Village President John Schmitt said it’s a great deal for the village, partly because it could make cellphone reception more reliable.
“It doesn’t do anything negative for the village,” Schmitt said. “It will bring better transmission service to the area.”
Schmitt said the telecommunications equipment will make 4G faster and pave the way for 5G broadband cellular network technology in the coming years.
“It’’s going to create a whole new level of capability everywhere,” he said.
The Village Board will vote on the matter at 7:30 p.m. Tuesday at 2200 Harnish Drive.