County Executive John Leopold Announces Revenue Earned from Leasing Space on County Water Towers
|Annapolis, Maryland (November 17, 2009) - County Executive John R. Leopold announced today that the County earns over $1 million dollars annually from leasing space on water tanks to private telecommunication companies.|
“Utilizing these existing County resources is another prudent example of how my Administration continues to find ways to raise revenues without burdening the tax payers of Anne Arundel County,” said the County Executive. “In addition to generating income for the County, the leasing program reduces the need for construction of cell towers and monopoles. The structures are typically not desired in residential communities within the County.”
The income produced by renting available space on water towers increases approximately 4% annually and lease agreements are usually for 20 years. As cell phone usage continues to be popular, demand for space on water tanks is strong. The County projects another $150,000 in new cell phone lease agreements between now and the end of the year.