Executive Summary
The Auburn Area Recreation and Park District (ARD) had a Sprint cell tower on its property and was looking to convert its lagging rental income into immediate capital for a direct impact in the community. TowerPoint provided ARD with the full monetary value of its wireless lease to help fund community projects; and, the Auburn Area Recreation and Park District also received site management benefits that extended far past the closing of their easement.
Background/Challenges
ARD was looking to monetize their wireless lease. Over the course of five years, the District became increasingly frustrated with the complexity and lack of value offered by other investing companies.
The TowerPoint Solution
TowerPoint drew on its expansive experience with municipalities to customize a solution that met ARD’S goals. The solution included:
• Flexible negotiation to aid the cumbersome demands required by public entities.
• A competitive monetary value for the cell site to provide funding for community projects.
• Site management benefits in place, as needs arise post-closing.
Understanding the needs of the community and the requirements set out by the District, TowerPoint and the District found common ground through flexible negotiation. As a result, the District received the full value of their lease and entered into a partnership with TowerPoint.
Results
Auburn Area Recreation and Park District used a portion of the proceeds to install a solar array at its community center and swimming pool complex. In addition to utilizing the lump sum payment towards the community improvements, the District entered into a partnership with TowerPoint. The partnership provided site management benefits that included TowerPoint managing the district’s cell site asset, installations and upgrades.