Title
Resolution approving a Supplemental Joint Participation Agreement between the City of Coral Gables and the Florida Department of Transportation (FDOT) to allow a vehicle previously leased by the City to be eligible expense for purchase under the current Master Joint Participation Agreement between the City and the FDOT for equipment purchase, dated June 16, 2005; and authorizing the City Manager to execute said Supplemental Joint Participation Agreement on behalf of the City.
CITY MANAGER'S RECOMMENDATION:
That a Resolution approving a Supplemental Joint Participation Agreement between the City of Coral Gables and the Florida Department of Transportation (FDOT) to allow a vehicle previously lease by the City to be eligible expense for purchase under the current Master Joint Participation Agreement between the City and the FDOT for equipment purchase, dated June 16, 2005 and authorizing the City Manager to execute said Supplemental Joint Participation Agreement on behalf of the City be approved.
BRIEF HISTORY:
Pursuant to Resolution No. 2005-101, the City of Coral Gables entered into a Joint Participation Agreement (JPA) with the Florida Department of Transportation accepting a matching grant from said agency for the purchase of four new shuttle buses (trolleys) in the amount of $600,000.00.
In an effort to move forward with the project to meet the increasing demand of ridership, the City initially purchased a shuttle bus (Trolley No. 6) that had been briefly leased by the City as a prototype from the project vendor. Trolley No. 6 was evaluated by the City during the lease period allowing the City to incorporate certain design improvements that could be passed on to the successful bidder.
Said Trolley No. 6 met all projects specifications and due to its prior lease arrangement, the vehicle cannot be considered as a new vehicle under the terms of the JPA, and therefore, an appraisal of the vehicle's value must be established in order for the FDOT to determine its cost participation.
This Supplemental Joint Participation Agreement provides for the City to establish the current value of the vehicle through an appraisal from a firm acceptable to the FDOT.
FINANCIAL INFORMATION (If Applicable)
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1. |
To be determined by the appraisal |
FDOT grant and One-Half Penny Surtax |