The Borough of Point Pleasant got more than expected when the results of a recent bid opening were announced – recording $1.6 million in revenue.  The winning bid was substantially higher than the alternate bids and any offers the Council previously rejected at prior meetings.

According to Council President DePaola, “We played this very well.  We would not settle until we got the highest possible amount we felt the Borough deserved.  The offer is almost 20 times yearly revenue and is more than reasonable and fair within today’s marketplace.”

SBA Communications Corporation, a Florida-based company, was the winning bidder for the purchase of four, existing cellular telephone leases located at 3214 Lakewood Road, near the recycling center, in the Borough.

“The Borough consulted with professionals to ensure the proper steps were taken to prepare, receive and award the contract in the best interests of the Borough and in accordance with the law,” Mayor Robert A. Sabosik said this week. “We were pleased to have received the response we did for the valuable cellular leases.”

Council President Toni DePaola said the Borough acted at the right time.

“Technology is changing so rapidly that we wanted to get the most we could now,” Council President DePaola said yesterday. “We wanted to make sure we got the most we could now for the good of the Borough. It is likely we would not have been able to get such a high bid down the road.”

Mayor Sabosik said the sale of the cellular leases is part of the governing body’s overall strategy to increase revenues in order to keep taxes low for residents and business owners.

“We are always looking for new ways to maximize our revenue flow,” Mayor Sabosik said yesterday. “And like Council President DePaola said, we felt now was the right time to reap the highest rewards for the Borough.”

Councilman William Borowsky added the recent award of another cellular-related bid in September – for space on the Riviera Parkway water tank – will also be financially beneficial.

“Verizon Wireless was the winning high bidder at just over $40,000 per year,” Councilman Borowsky said.