Hope Mills approves amendment to cell-tower lease lowering guaranteed rent to $750 a month

The Town of Hope Mills on April 30 approved a resolution amending the lease for a town-owned cell-tower site, setting the payable amount at $750 per month beginning July 1, 2026.

Staff read Resolution R2026-00007 into the record, identifying the site as a 3,600-square-foot portion of property at 5770 Rockfish Road, tax parcel 0414255411. The amendment sets the base payment at $750 per month (equivalent to $9,000 per year), retains a revenue share for any new tenant the lessee secures and provides for a five-year incremental increase of 5% in future adjustment periods. The current lease, staff said, expires in April 2032.

Town officials framed the amendment as a negotiated outcome after an earlier attempted sale fell through and the previous lease revenue had been higher. The staff presentation noted the prior lease had yielded roughly $21,000 per year; the revised base payment represents a roughly $12,000 annual reduction compared with that prior level in absolute dollars, though the amendment preserves the opportunity for additional revenue via tenant revenue-sharing.

A board member moved to approve the resolution; the motion was seconded and carried on a voice vote. A board member also noted the tower hosts an antenna used by the fire department, giving the site operational value beyond lease revenue.

Next steps: the resolution authorizes the town manager or designee to execute the documents necessary to finalize the amendment, subject to final review by the town attorney.

The meeting cited North Carolina General Statute 168-272 during the reading, noting statutory authorization is required for leases longer than one year.