Agile Networks

courtesy State of Indiana

State officials announced a potential 50-year deal Tuesday to lease unused state cell towers and use the money to pay for the Bicentennial projects.

The Indiana Finance Authority approved an agreement on a potential 50-year lease – renewable after the first 25 years – for unused cell tower capacity between the state and Ohio-based Agile Networks.

The deal is expected to yield the state $260 million over the next half-century.

Agile will pay $50 million up front and share a percentage of the revenues generated by the towers with the state.