|
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): |
Kensey Kunkel, Mgr. Business Development-Sales |
TITLE:
title
Fare Agreement: Special Event Agreement (University of Utah)
end
AGENDA ITEM TYPE:
Service or Fare Approval
RECOMMENDATION:
Authorize the Executive Director to enter into the Special Event Agreement with the University of Utah.
BACKGROUND:
The University of Utah (U of U) and Utah Transit Authority (UTA) are longstanding partners dedicated to providing transit solutions to and from the U of U’s campuses. Historically, the parties have partnered through a Special Event Agreement to provide transit access to the U of U’s campus events. The current agreement has expired and both parties desire to continue the partnership.
DISCUSSION:
The U of U and UTA propose to enter into a three (3) year special event contract. This partnership will allow tickets to specific events, as listed in the contract, to be valid fare on UTA services on the day of the event. Ski, Paratransit, and Park City-Salt Lake Connect Service are not included. The value of this agreement is $1,275,000 ($425,000 per year). The University of Utah may add additional events not listed in the contract at the following price schedule based on tickets sold as reported by the U of U:
|
Tickets Sold |
Price per Event |
|
45,001 + |
$56,000 |
|
30,001-45,000 |
$45,000 |
|
< 30,000 |
$34,000 |
CONTRACT SUMMARY:
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Contractor Name: |
University of Utah |
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Contract Number: |
22-F0299 |
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Base Contract Effective Dates: |
September 14, 2022 - August 30, 2025 |
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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: |
$1,275,000 |
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Procurement Method: |
NA |
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Budget Authority: |
NA |
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|
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ALTERNATIVES:
Do not enter into an agreement and forego revenue
FISCAL IMPACT:
Total revenue of $1,275,000 over three years or $425,000 per year. This represents an increase of $125,000 as compared to the previous year’s revenue.
ATTACHMENTS:
Contract