SUBJECT/RECOMMENDATION:
Title
Approve an amendment to the Master Services Agreement Re: Participants (Participation Amendment) between the City of Clearwater, Bank of America, N.A. for itself and as assignee of Banc of America Merchant Services, LLC (Bank), and Central Florida Expressway Authority (Lead Merchant) for the provision of merchant services beginning December 12, 2024 and renewing annually in June until CFX terminates the agreement, and authorize the appropriate officials to execute same. (consent)
Body
SUMMARY:
The City has utilized Banc of America Merchant Services for the processing of certain VISA and MasterCard payments under a state contract since 2015. The state contract expired on December 11, 2024. Banc of America Merchant Services has an active stand-alone agreement with the Central Florida Expressway Authority (formerly known as the Orlando Orange County Expressway Authority) with the same pricing as the expiring state contract that is available to other governmental entities in Florida as a piggyback option.
This merchant services agreement is utilized for revenues collected by Parking, Parks and Recreation, Clearwater Gas, and Business Tax Receipts.
APPROPRIATION CODE AND AMOUNT:
Fees are charged to 548000 (Other Charges) in the respective departments.
USE OF RESERVE FUNDS:
N/A
STRATEGIC PRIORITY:
1.1 - Provide evidence-based measurement tools to continually guide municipal performance and promote accountable governance.
1.3 - Adopt responsive levels of service for public facilities and amenities, and identify resources required to sustain that level of service.
