School board trades less rent for guaranteed payment

The School Board of Levy County approved a renegotiated tower lease with T-Mobile during their meeting on Tuesday that reduces the rent, but guarantees a 10-year income stream.

The tower is on school district property, and the school board rents the tower space to the cellular company.

With the new lease, T-Mobile will pay the school district $19,000 a year, down from $20,700. But T-Mobile will ensure the income for 10 years, whereas under the old 30-year lease they could cancel with 90 days notice.

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