Approval of a Real and Personal Property Transfer Agreement Bill of Sale and Termination of Lease Agreement with Time Warner Cable Related to the Antenna Tower and Appurtenances Located in Culver City Park. City of Culver City California Agenda Item Report Meeting Date: 09/24/12 CITY COUNCIL AGENDA ITEM: Approval of a Real and Personal Property Transfer Agreement Bill of Sale and Termination of Lease Agreement with Time Warner Cable Related to the Antenna Tower and Appurtenances Located in Culver City Park Item Number: C 1 Contact Person/Dept.: Martin R. Cole Assistant City Manager Fiscal Impact: Yes X Public Hearing: Action Item: Public Notification: Meetings and Agendas City Council (09/20/12) Phone Number: (310) 253 6000 No General Fund: Yes X No Attachments: Department Approval: Martin R. Cole (09/19/12) Chief Financial Officer Approval: Jeff Muir (09/19/12) City Attorney Approval: Carol Schwab (by H. Baker) (09/19/12) City Manager Approval: John M. Nachbar (09/19/12) RECOMMENDATION: Staff recommends the City Council approve a Real and Personal Property Transfer Agreement Bill of Sale and Termination of Lease Agreement (the Transfer Agreement ) related to the antenna tower and appurtenances located in Culver City Park. BACKGROUND: In 1987 the City and American Cablesystems of California (the predecessor in interest of Time Warner Cable TWC) entered into a lease agreement which enabled TWC to construct and maintain a communications tower and appurtenances on a parcel of land owned by the City located in Culver City Park (the Lease Agreement ). In 2010 TWC notified the City of its intent to terminate the Lease Agreement as its needs for the communications tower had changed since the Lease Agreement was initiated. As part of the Lease Agreement termination TWC indicated it would remove the communications tower and the appurtenant building from the site. At that time the City reviewed the terms of the Lease Agreement and alleged that TWC had miscalculated the rent d...
Click here for full text