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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Vi Miller, Chief Financial Officer |
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PRESENTER(S): |
Kensey Kunkel, Manager Fare Strategy |
TITLE:
title
Sponsored Fare Agreement: OGX Grand Opening Funding Agreement for Sponsored System-Wide Fare (Rocky Mountain Power)
end
AGENDA ITEM TYPE:
Service or Fare Approval
RECOMMENDATION:
Approve and authorize the Executive Director to execute an OGX Grand Opening Funding Agreement for Sponsored System-wide Fare with Rocky Mountain Power.
BACKGROUND:
On July 26, 2023, the UTA Board of Trustees approved resolution R2023-07-05 empowering the Executive Director “to declare system-wide zero fare in commemoration of the OGX grand opening.” Subsequently Executive Director Fox declared a zero-fare day, offering zero fares, system-wide, on all UTA services on Saturday, August 26, 2023.
Utah Transit Authority (“UTA”) obtained community support to recover lost fare revenues for the system-wide zero fare day. UTA committed to formalizing the agreements through contracts with potential Sponsors and obtaining board approval of the contracts.
One specific sponsor is Rocky Mountain Power. The agreement details are in the discussion below.
DISCUSSION:
UTA will enter into this Agreement with Rocky Mountain Power in the amount of five-thousand dollars ($5,000). This money will be used to offset fares during the August 26, 2023, zero fare day. In return, UTA provided the sponsor with a “Tier 1” marketing package that included representation on the OGX invite, OGX Website, Logo Inclusion on OGX Bus Boards, as well as five (5) Premium Monthly passes.
CONTRACT SUMMARY:
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Contractor Name: |
Rocky Mountain Power |
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Contract Number: |
23-F0364 |
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Base Contract Effective Dates: |
August 1-September 30, 2023 |
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Extended Contract Dates: |
NA |
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Existing Contract Value: |
NA |
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Amendment Amount: |
NA |
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New/Total Amount Contract Value: |
$5,000 |
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Procurement Method: |
NA |
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Funding Sources: |
NA |
ALTERNATIVES:
Do not enter into an agreement and forego the revenue.
FISCAL IMPACT:
Five-thousand dollars ($5,000) to be used to offset lost fare revenues on the systemwide zero fare day.
ATTACHMENTS:
Funding Agreement (Rocky Mountain Power)