File #: 19-0061   
Type: Resolution Status: Agenda Ready
In control: City Council
On agenda: 1/28/2019
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 $8,159,000 for operations and maintenance of the existing light rail line for fiscal year 2018/19. The City anticipates receiving $2,233,000 in light rail fares, advertising and preventive maintenance as well as $1,281,570 in Arizona Lottery Funds for a net impact to the City’s General Fund of $4,644,430. (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 $8,159,000 for operations and maintenance of the existing light rail line for fiscal year 2018/19. The City anticipates receiving $2,233,000 in light rail fares, advertising and preventive maintenance as well as $1,281,570 in Arizona Lottery Funds for a net impact to the City’s General Fund of $4,644,430. (Districts 3 and 4)