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EEVERETT <br /> project title: <br /> City Council Agenda Item Cover Sheet <br /> Council Bill#interoffice use Amendment No. 2 Transit Advertising Agreement Between the City of <br /> Consideration: Everett and Lamar Transit, LLC <br /> Project: Bus Advertising Agreement <br /> Agenda dates requested: <br /> 07/01/2020 Partner/Supplier: Lamar Transit, LLC <br /> Location: Everett Transit <br /> Briefing <br /> Proposed action Preceding action: Amendment No 1.—April 12,2018 <br /> Consent Fund: 425 <br /> Action X <br /> Ordinance <br /> Public hearing Fiscal summary statement: <br /> Yes X No Amendment No. 2 replaces the$95,000 guarantee due Everett Transit on July 1, 2020, <br /> with a 55%share of net advertising revenue, calculated monthly. The amount of loss or <br /> Budget amendment: gain is dependent on retail bus advertising,which at this time shows very little activity. <br /> Yes X No <br /> PowerPoint presentation: Project summary statement: <br /> Yes X No <br /> Lamar Transit, LLC is Everett Transit's contractor for advertising that is placed on the <br /> Attachments: <br /> interior and exterior of Everett's buses. On April 12, 2018, Lamar Transit, LLC and the <br /> City of Everett entered into a five-year agreement.The agreement guaranteed $95,000 <br /> Department(s)involved: in advertising revenue, payable at the beginning of the contract year. It also provided for <br /> Transportation Services additional revenue based on performance. <br /> Legal <br /> Due to the significant impact the current pandemic is having on retail advertising, Lamar <br /> Transit, LLC has asked all of its customers to modify their agreements from a guaranteed <br /> Contact person: fee (with a potential bonus)to a shared model calculated monthly. Under this model, <br /> Tom Hingson Everett Transit would receive 55%of the net revenue on bus advertising,without a <br /> Phone number: guarantee.The duration of Amendment No. 2 is July 1,2020 through December 31, <br /> 425-257-8939 2020. Prior to termination both parties agree to reassess market conditions to <br /> determine whether or not it is feasible to resume the previous payment model. <br /> Email: Recommendation (exact action requested of Council): <br /> thingson@everettwa.gov <br /> Authorize the Mayor to sign Amendment No. 2 Transit Advertising Agreement Between <br /> the City of Everett and Lamar Transit, LLC. <br /> Initialed by: <br /> Department head <br /> ,dminis <br /> Council President <br /> 41 <br />