The Austin City Council voted unanimously during its regular meeting on June 18 to reject an offer from Landmark Dividend to purchase a cell phone tower lease. The council’s vote came on the recommendation of Administrative Services Director Tom Dankert and Public Works Director Steven Lang.

The lease, currently held by T-Mobile, is for land near the Wastewater Treatment Plant where T-Mobile built a cell phone tower. T-Mobile’s lease runs through Sept. 30, 2032, but must be renewed every five years.

Landmark Dividend approached the city in March with an offer to purchase the lease with up-front cash; however, the lump sum offer of $174,500 was less than the minimum promised total of $254,000 from the current lease, assuming the renewals are made through 2032.

Landmark Dividend also wanted the lease rights for 35 years as opposed to the remaining 14 years and the lump sum purchase would only be completed if T-Mobile granted the longer lease extension.

The city contacted Landmark Dividend to see if it would reconsider its position on the acquisition price, but Landmark Dividend declined.