Description
The Borough of Tenafly is selling a 60‑year ground easement for the parcel of land currently occupied by a third‑party communications tower on Grove Street. The successful bidder will pay a lump‑sum purchase price (minimum $3.2 M) and assume all rights and responsibilities associated with the easement, including future sub‑leasing, operation, maintenance, and regulatory compliance of the tower site. The borough will retain a right of access at no cost and will receive a $1 fee for any assets reclaimed at termination. Bids must be sealed, include a bid security of 10 % (capped at $20 K), and be submitted by 10:00 AM on 6 Nov 2026. The award is expected at the first council meeting after the bid deadline. The contract term is 60 years, after which the easement expires or may be terminated earlier under specified conditions.
• Minimum bid: $3,200,000; no upper limit disclosed.
• Bid security: 10 % of bid, max $20,000.
• Deadline: 11 Nov 2026, 10:00 AM (sealed bids).
• Award: First regular council meeting after deadline (date TBD).
• Duration: 60‑year easement term.
• Responsibilities: Assume tower lease, manage/maintain equipment, comply with all federal, state, local regulations, and pay a 3.5 % consultant fee to the borough’s telecom consultant.
• No ongoing obligations to the borough beyond the one‑time purchase and consultant fee.
Attached files
Contact
Omar Stovall(Borough Clerk)