2020/12/16 Council Agenda Packet

1.EVERETT Project title: Amendment No. 3 to Agreement with Lamar Transit, LLC City Council Agenda Item Cover Sheet Council Bill # Agenda dates requested: 12/16/20 Consideration: Amendment No. 3 to Agreement with Lamar Transit, LLC Project: Agreement for Advertising on Everett Transit Buses Partner/Supplier: Lamar Transit, LLC Briefing Proposed action Consent X Action Ordinance Public hearing Yes No Budget amendment: Yes x No PowerPoint presentation: Yes x No Attachments: Amendment No. 3 Department(s) involved: Transit, Legal Contact person: Tom Hingson Phone number: 425-257-8939 Email. thingson@everettwa.gov Initialed by: ref Department head Administr Counci President Location: Everett Transit Preceding action: Agreement 2013 Amendment #1, 2018; Amendment #2, July 2020 Fund: 425 Transportation Services Fiscal summary statement: Guaranteed payment to City - January 31, 2021- $35,625 expected revenue through June 30 2021 $64,773 Guaranteed payment to City - July 1, 2021 $71,250 Guaranteed payment to City - July 1, 2022 - $95,000 55% of net revenue in excess of guarantee. Project summary statement: The City of Everett has had an agreement with Lamar Transit, LLC for advertising on Everett Transit buses since July 12, 2013. Amendment #1 in 2018 extended the agreement for an additional five years. Amendment #2 in July 2020 reflected the impact of COVID-19 to sales and temporarily suspend guaranteed payments and replaced them with a 55% share of monthly net revenue. The amended agreement expires December 31, 2020. Amendment #3 restores guaranteed payments 55% of all net revenue exceeding the guarantee and the original termination date, June 30, 2023. Recommendation (exact action requested of Council): Authorize the Mayor to sign Amendment No. 3 to the contract with Lamar Transit, LLC.