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AlTACHME~~ B Page 41 years. The successful bidder will be obligated to execute a lease agreement with the City of Redwood City. The term of the lease will be ten (10) years. The minimum rental to be bid will be twenty thousand dollars ($20,000) each year for five (5) years. The sixth year annual rental shall be twenty-four thousand dollars ($24,000). Commencing with lease year seven (7) and continuing every lease year thereafter, the rental shall be subject to CPI adjustment each year with a cap of 4% upon each year's adjustment. All bids shall be governed by the provisions of the Notice to Bidders, Instruction to Bidders, and the Provisions of the Lease Agreement. Bids will be opened publicly in the office of the City Clerk on March 22, 2006 and the bid will be awarded by the City Council for and on behalf of the City of Redwood City within thirty (30) calendar days from March 22, 2006. Section 3-1/2 of Redwood City City Charter requires any lease of real property under the jurisdiction of the City Council for a term of more than one (1) calendar month shall be authorized by resolution of the Council. In 1997, the City adopted Article 38 of the Zoning Ordinance, allowing the outright installment of wireless communications facilities on residentially-zoned properties. The purpose of this article is "to allow wireless communications facilities which provide for the personal communications needs of residents of the City and region, and of local business and government, while minimizing adverse visual and operational effects of such facilities through appropriate design, siting, and screening" (Ord. 1130.297, eff. 3-26-97). Charles Jany, Principal Planner of the Planning Division of Community Development Services, has reviewed this staff report and is comfortable with the proposed lease agreement as jt relates to Article 38 of the Zoning Ordinance and other codes. Fiscal Impact Leasing the water tank site for communications facilities has a positive financial impact on an on-going basis through land lease valued at approximately $20,000 per yea rfo r the first five years. This has unknown benefits to Redwood City residents and non-residents who are customers of this communication company. Altemative If the City Council chooses not to approve this leasing agreement, the City will forego $20,000 potential revenue over the next five years. In addition to this lost revenue there may be adverse impacts to wireless communications users in this area. ill"~~ ~~ ~luf Rajesh Sewak Brian P nty Edward verett . Revenue Services Manager Director of Finance and City Manager Financial Planning Attachments: Attachment 1 - Notice to Bidders Attachment 2 -Instruction to Bidders Attachment 3 - Proposal Attachment 4 - Location Map 2