SUBJECT
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Authorizing the City Manager to execute the renewal on the Lamar Texas Limited Partnership, d/b/a Lamar Advertising contract FY22-042 of Laredo for bus shelter advertising, installation, and maintenance for an inventory of 103 locations for an additional one (1) year extension option. Lamar agrees to pay the city on or before the first day of each quarter, the quarterly amount of $5000.00 of the minimum annual guaranteed of $20,000.00. In addition to the guaranteed annual payments, the city will participate with Lamar Advertising’s “excess” gross receipts 40.01% of the annual gross receipts collected by Lamar Advertising on the shelters. These payments will be made to the city within one (1) month of the end of each quarter. Lamar Advertising will provide ten (10) advertising locations for El Metro Ridership Program at no additional cost based on availability. The City will only pay the cost of the vinyl material.
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PREVIOUS COUNCIL ACTION
On April 19, 2022, the Laredo Mass Transit Board approved a Bus Shelter Advertising contract with Lamar Advertising of Laredo for three (3) years 1-3 with the option to renew for two (2) additional one (1) year extension options for years 4-5.
BACKGROUND
On January 28, 2022, a request for a proposal (RFP) FY22-042 was issued on behalf of the City of Laredo and the Laredo Transit Management Inc., for qualified service providers for the El Metro Bus Shelter Advertising, Installing, and Maintenance Services. On February 18, 2022 only one (1) proposal, Lamar Texas Limited Partnership, D/B/A Lamar Advertising of Laredo, successfully submitted a proposal.
COMMITTEE RECOMMENDATION
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STAFF RECOMMENDATION
recommendation
Staff recommends approval of this motion.
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Fiscal Impact
Fiscal Year: 2025
Budgeted Y/N?: Y
Source of Funds: Revenue
Account #: 558-0000-339-2001
Change Order: Exceeds 25% Y/N: N/A
FINANCIAL IMPACT:
This is a revenue contract, amounts received from Contractor will be deposited in the Advertising Account 558 0000 339 2001.