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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, Mgr. Business Dev and Sales |
TITLE:
title
Fare Agreement: Funding for Salt Lake School District Passes (Salt Lake City Corporation)
end
AGENDA ITEM TYPE:
Service or Fare Approval
RECOMMENDATION:
Authorize the Executive Director to enter a Funding Agreement for Salt Lake School District Passes with the Salt Lake City Corporation
BACKGROUND:
The Salt Lake Education Foundation, Salt Lake School District, and Utah Transit Authority will enter into a one-year education pass agreement to provide local transit passes to all students, faculty, and staff for the upcoming 2022/23 school year. The details of the agreement can be found in contract no. 22-F0280.
The total value of the Education Pass Agreement is $379,000. Of the total, the District and the Foundation will pay $279,000 through contract 22-F0280. The remainder of the agreement ($100,000) will be subsidized through a funding agreement (22-F0285) with the Salt Lake City Corporation.
DISCUSSION:
UTA will enter into a Funding Agreement for Salt Lake School District Passes with Salt Lake City Corporation in the amount of $100,000.
CONTRACT SUMMARY:
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Contractor Name: |
Salt Lake City Corporation |
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Contract Number: |
22-F0285 |
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Base Contract Effective Dates: |
July 18, 2022 through July 31, 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 Contract Value: |
$100,000 |
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Procurement Method: |
NA |
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Budget Authority: |
NA |
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ALTERNATIVES:
Do not approve the funding agreement with Salt Lake City Corporation to subsidize passes for the Salt Lake School District, subsequently losing revenue and ridership
FISCAL IMPACT:
Additional $100,000 in contract revenue
ATTACHMENTS:
Funding Agreement