Fiscal Note
The proposed resolution extends Metro Transit's agreement with Greyhound Lines, Inc. through September of 2020 for the annual contribution made to the City of Madison from Greyhound Lines, Inc. This payment is recieved by Metro to fund maintenance costs at the Dutch Mill Park & Ride lot. The annual contribution amount will total $8,400, and will be paid to Metro Transit in twelve equal installments of $700. The revenue provided by Greyhound Lines, Inc. is included annually in Metro Transit's operating budget.
Title
Authorizing the Mayor and the City Clerk to execute an amendment to the agreement with Greyhound Lines, Inc. to help defray maintenance costs for the Dutch Mill Park & Ride lot for an additional year, October 1, 2019 through September 30, 2020 to be exercised automatically, unless either party terminates, under the same terms as the original contract except as amended.
Body
WHEREAS, for many years, Greyhound Lines, Inc. ("Greyhound") and the City of Madison ("City") have had a mutually beneficial agreement for maintenance of the Dutch Mill Park & Ride Lot; and
WHEREAS, both parties would like to continue this beneficial agreement for an additional year, October 1, 2019 through September 30, 2020; and
WHEREAS, Greyhound has transitioned to monthly electronic payments; and
WHEREAS, the City has simplied payments to be twelve equal monthly payments;
NOW, THEREFORE, BE IT RESOLVED that the Mayor and the City Clerk are authorized to enter into an agreement with Greyhound Lines, inc. to extend their existing contract an additional year, October 1, 2019 through September 30, 2020, to accept an annual contribution in the amount of $8,400.00 to help defray the maintenance costs for the Dutch Mill Park & Ride lot.