SUBJECT/RECOMMENDATION:
Title
Approve a Clearwater Beach Route Funding Agreement between Pinellas Suncoast Transit Authority (PSTA) and the City of Clearwater for an amount not to exceed $215,092.75 and authorize the appropriate officials to execute same. (consent)
Body
SUMMARY:
City staff has worked with Pinellas Suncoast Transit Authority (PSTA) to develop a Clearwater Beach Route Funding Agreement between both agencies that would allow the City of Clearwater to contribute towards PSTA’s financial obligations under the Jolley Trolley agreement for Clearwater Beach routes.
The Funding Agreement and Jolley Trolley Services Agreement cover Jolley Trolley services beginning October 1, 2016 through September 30, 2017 and current Jolley Trolley service routes. The Jolley Trolley Services Agreement also outlines that both the City and PSTA understand that a Farebox Recovery Goal and Advertising Goal have been set.
The City of Clearwater’s base contribution is not to exceed $182,503, but does not include the potential payment for a shortfall of the Advertising Recovery Goal. This potential payment would be the lesser of (a) the difference between the advertising revenue collected and the Advertising Recovery Goal or (b) $32,589.75.
City staff recommends approval of the Clearwater Beach Route Funding Agreement between PSTA and the City of Clearwater for an amount not to exceed $215,092.75.
APPROPRIATION CODE AND AMOUNT:
0435-01333-582000-545-000-0000 $182,503.00
0435-01333-582000-545-000-0000 $ 32,589.75
Funds are included in the proposed FY2017 Parking System Operating Budget for the base contribution. A future budget amendment will be requested, if required, to fund the Advertising Recovery Goal.