2024/04/10 Council Agenda Packet

City Council Agenda Item Cover Sheet Project title: Amendment No. 5 to Transit Advertising Agreement Between the City of Everett and Lamar Transit, LLC Council Bill # interoffice use Project: Bus Advertising Agreement Partner/Supplier: Lamar Transit, LLC Location: Everett Transit Preceding action: Amendment No 4. – June 28, 2023 Fund: 425/Transit Agenda dates requested: Briefing Proposed action Consent 04/10/24 Action Ordinance Public hearing Yes X No Budget amendment: Yes X No PowerPoint presentation: Yes X No Attachments: Department(s) involved: Transportation Services Legal Contact person: Melinda Adams Phone number: 425-257-8915 Email: madams@everettwa.gov Initialed by: MAA Department head Administration Council President Fiscal summary statement: Like previous amendments, Amendment No. 5 contains a guaranteed amount and a 55% share of net advertising revenue, calculated monthly. Project summary statement: Lamar Transit, LLC is Everett Transit’s contractor for advertising that is placed on the interior and exterior of Everett’s buses. The current agreement with Lamar ends on June 30, 2024. The purpose of Amendment No. 5 is to extend the agreement six months until December 31, 2024. The financial terms for the six-month extension remain substantially the same as previous agreement time periods, with the City receiving a non-refundable payment of $35,625 on July 30, 2024, plus fifty-five percent (55%) of all net revenue that exceeds $64,772.50 during the six month extension. During 2024, City staff intend to issue an RFP for the next long-term bus advertising contract, which would begin in 2025. Recommendation (exact action requested of Council): Authorize the Mayor to sign Amendment No. 5 to the Transit Advertising Agreement Between the City of Everett and Lamar Transit, LLC.