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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): |
Kensey Kunkel, Manager of Fare Strategy |
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TITLE:
title
Fare Agreement: Education Pass Agreement (Ensign College)
end
AGENDA ITEM TYPE:
Service or Fare Approval
RECOMMENDATION:
Authorize the executive director to enter an Education Pass Agreement with Ensign College for three years with a projected value of $450,550.
BACKGROUND:
Ensign College (Ensign) and Utah Transit Authority (UTA) have historically partnered to provide those that work or attend classes at the institution with an unlimited premium transit pass. In July 2023, the Board of the Authority authorized a five-month extension to Ensign College’s (College) Ed Pass Agreement. This extension was made in partnership with the College to line up Ensign’s fiscal calendar with the term of the contract, as well to allow both parties to negotiate a longer-term agreement. The current agreement will expire on December 31, 2023 and both Ensign and UTA desire to continue our partnership through a new Ed Pass Agreement.
DISCUSSION:
UTA will enter a three (3) year Education Pass Agreement with Ensign College in the amount of $450,550:
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|
School Year |
Contract Value |
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1 |
2024 |
$111,000 |
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2 |
2025 |
$150,200 |
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3 |
2026 |
$189,350 |
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Total |
$450,550 |
The term of the contract will be January 1, 2024 through December 31, 2026 and will provide premium transit access to thirty-five hundred (3,500) students, faculty, and staff.
CONTRACT SUMMARY:
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Contractor Name: |
Ensign College |
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Contract Number: |
23-F0365 |
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Base Contract Effective Dates: |
January 1, 2024 - December 31, 2026 |
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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: |
$450,550 |
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Procurement Method: |
NA |
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Budget Authority: |
NA |
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ALTERNATIVES:
Do not enter into an agreement and forego revenue and ridership.
FISCAL IMPACT:
The value of this contract is $450,550 over three (3) years. This represents an increase in revenue of about $210,000 as compared to the revenue received in the previous three (3) years of this agreement.
ATTACHMENTS:
Contract