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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Viola Miller, Chief Financial Officer |
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PRESENTER(S): |
Jordan Eves, Manager of Fare Strategy |
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TITLE:
title
Fare Agreement: Pass Purchase and Administration Agreement Modification No. 4 (Westminster University)
end
AGENDA ITEM TYPE:
Service or Fare Approval
RECOMMENDATION:
Approve and authorize the Executive Director to execute Modification No. 4 to the Westminster Pass Purchase and Administration Agreement (Contract 20-F0129)
BACKGROUND:
UTA and Westminster College are longstanding partners dedicated to providing transit access to the institution’s students, faculty and staff. In 2020, the school entered a Pass Purchase and Administration Agreement (Agreement) with UTA, wherein Westminster pays for each trip taken by authorized users on UTA services, and UTA gives Westminster a 25% discount off the public fare. Authorized users included the school’s students, faculty, and staff with an active student ID. Westminster and UTA have continued to partner together to provide the school with transit passes by extending the original agreement through contract modifications.
Most recently, for the 2023-24 school year, Westminster entered modification number three (3) which was approved by the UTA board of trustees last July and extended the agreement for one additional year through July 31, 2024.
DISCUSSION:
Staff recommends extending this contract for one (1) additional year through July 2025. The updated contract term will be August 1, 2024 through July 31, 2025. All other terms of the contract will remain the same. Revenue for this contract is estimated because Westminster is billed monthly based on actual trips taken during the contract period. Revenue estimates are made using ridership projections based on historical trends.
CONTRACT SUMMARY:
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Contractor Name: |
Westminster University |
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Contract Number: |
20-F0129-4 |
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Base Contract Effective Dates: |
August 1, 2020 - July 31, 2024 |
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Extended Contract Dates: |
August 1, 2020 - July 31, 2025 |
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Existing Contract Value: |
$64,500 |
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Amendment Amount: |
$20,000 Estimated using historical ridership and revenue. |
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New/Total Contract Value: |
$84,500 |
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Procurement Method: |
NA |
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Budget Authority: |
NA |
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ALTERNATIVES:
1. Not approve the amendment and renegotiate a new contract price and term
2. Not approve the amendment and forgo revenue
FISCAL IMPACT:
Estimated $20,000 in revenue.
ATTACHMENTS:
Contract Modification No. 4