File #: 24-0626   
Type: Resolution Status: Agenda Ready
In control: City Council
On agenda: 7/1/2024
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 estimated cost of service for operations, maintenance and facility landscaping of the existing light rail line for fiscal year 20234/25 is $19,428,000. The City anticipates receiving $3,036,289 in light rail fares, advertising, preventive maintenance grant and Arizona Lottery Funds for a net impact to the City’s General Fund of $16,391,711. (Districts 3 and 4) Resolution No. 12238
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 estimated cost of service for operations, maintenance and facility landscaping of the existing light rail line for fiscal year 20234/25 is $19,428,000. The City anticipates receiving $3,036,289 in light rail fares, advertising, preventive maintenance grant and Arizona Lottery Funds for a net impact to the City’s General Fund of $16,391,711. (Districts 3 and 4) Resolution No. 12238