File #: 17-0767   
Type: Resolution Status: Agenda Ready
In control: City Council
On agenda: 7/10/2017
Title: Approving and authorizing the City Manager to enter into a funding agreement with Valley Metro Rail, Inc., for the current light rail operations in the City of Mesa. The City of Mesa will pay $7,172,000 for operations and maintenance of the existing light rail line for FY 2017/18. The City anticipates receiving $2,233,000 in light rail fares, advertising and preventive maintenance, as well as $1,291,000 in Arizona Lottery Funds, for a net impact to the City’s General Fund of $3,648,000. (Districts 3 and 4)
Attachments: 1. Council Report, 2. Resolution, 3. Agreement
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Title

Approving and authorizing the City Manager to enter into a funding agreement with Valley Metro Rail, Inc., for the current light rail operations in the City of Mesa. The City of Mesa will pay $7,172,000 for operations and maintenance of the existing light rail line for FY 2017/18. The City anticipates receiving $2,233,000 in light rail fares, advertising and preventive maintenance, as well as $1,291,000 in Arizona Lottery Funds, for a net impact to the City’s General Fund of $3,648,000. (Districts 3 and 4)