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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
William Greene, Chief Financial Officer |
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PRESENTER(S): |
Monica Morton, Fares Director |
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Kensey Kunkel, Manager Business Development & Sales |
TITLE:
title
Sponsored Fare Agreement: Funding for Free System-Wide Fares During Free Fare February (Salt Lake City)
end
AGENDA ITEM TYPE:
Service or Fare Approval
RECOMMENDATION:
Approve and authorize the Authority to enter into a Funding Agreement with Salt Lake City for Free Fare February
BACKGROUND:
On January 26, 2022 the UTA Board of Trustees approved resolution R2022-01-05 empowering the Executive Director “to declare “Free Fare February” for the entire of month of February, if the Authority is able to obtain commitments from partners that recover a majority of the lost fare revenue.” Subsequently Executive Director Fox declared Free Fare February, offering free fares, system-wide, on all UTA services from February 1-28, 2022.
Utah Transit Authority (“UTA”) and Salt Lake City coordinated to obtain community support to recover lost fare revenues for Free Fare February. UTA committed to formalizing the agreements through contracts with potential Free Fare February Sponsors and obtaining board approval of the contracts.
One specific sponsor is Salt Lake City. The agreement details are in the discussion below.
DISCUSSION:
UTA will enter into this Agreement with Salt Lake City in an amount not to exceed one-hundred thirty-five thousand dollars ($135,000). This money will be used to offset fares for the month of February.
CONTRACT SUMMARY:
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Contractor Name: |
Salt Lake City |
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Contract Number: |
22-F0265 |
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Base Contract Effective Dates: |
February 1-28, 2022 |
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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: |
$135,000 |
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Procurement Method: |
NA |
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Funding Sources: |
NA |
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ALTERNATIVES:
Do not enter into an agreement and forego the revenue.
FISCAL IMPACT:
Up to one-hundred thirty-five thousand dollars ($135,000) in revenue that will offset lost fares for the month of February.
ATTACHMENTS:
Funding Agreement (Salt Lake City)