Fiscal Note
The total estimated cost of the tire lease is $916,550, paid over a five-year period. In 2010, the Metro Transit Adopted Operating budget includes $170,000 for the tire lease expense. In 2011, the estimated cost is $181,847. Under federal regulations, this tire lease is eligible for 80% federal funding. Expenditures in future years will require Common Council approval as part of the budget process.
Title
Authorizing the Mayor and the City Clerk to enter into an agreement with Bridgestone Americas Tire Operations, LLC for provision of leasing tires to Metro Transit for a five-year period beginning on July 1, 2010.
Body
Preamble
Metro Transit, a division of the City of Madison, leases the tires for its entire fleet of buses. The current five-year lease ends on 6/30/10. Metro Transit developed a Request for Proposals (RFP) which was advertised and three responsive and responsible proposals were received in response to the RFP.
WHEREAS based on the review of the proposals received, Bridgestone Americas Tire Operations, LLC was selected and a proposed contract was prepared; and
WHEREAS said mileage tires will be supplied over the five years at an estimated total cost of $916,550;
NOW, THEREFORE, BE IT RESOLVED that the Mayor and the City Clerk are hereby authorized to enter into a five-year lease agreement with Bridgestone Americas Tire Operations, LLC for mileage tires, at an estimated cost of $916,550, 80% of which is eligible for Federal funding.