Fiscal Note
Revenues of $75,000 have been included in the 2005 Parking Utility Operating budget. Minimum revenues in 2005 will be approximately $33,000 with future annual minimum revenues of $50,000.
Title
Authorizing the Parking Utility to sign an agreement with Adams Outdoor Advertising Limited Partnership to sell and manage advertising services for the City's Parking Utility.
Body
WHEREAS, the Parking Utility and the Transit and Parking Commission have determined that there is a need to hire an experienced company to sell and manage advertising services for spaces within City-owned parking ramps; and
WHEREAS, Request for Proposals (#7719) based on the terms and conditions contained in the attached Parking Ramp Advertising Agreement was broadcast to 138 potential vendors, and downloaded by 12 interested firms; and
WHEREAS, Adams Outdoor Advertising Limited Partnership, who submitted a proposal guarantee of $50,000 annually with a potential of $75,000, has been selected to install and maintain the signs, solicit, select and recommend advertisers, and perform other related services;
NOW, THEREFORE, BE IT RESOLVED that the Common Council authorizes the Parking Utility to proceed with this agreement and that the Mayor and City Clerk are authorized to sign such agreement.