ADMINISTRATIVE REPORT
MEETING DATE: February 12, 2025 AGENDA CATEGORY: Consent - Agreements TO: Honorable Mayor and City Council
FROM: Randy McKeegan, Finance Director
DATE: January 31, 2025
SUBJECT: Amendment No. 1 to Agreement No. 2024-157 with Loop Electric, Inc. (increasing compensation $330,000; revised not to exceed $819,100) to continue the supply of vehicle loop cutting and streetlight repair service.
RECOMMENDATION:
Staff recommend approval of the amendment
BACKGROUND:
On June 12, 2024, the City Council approved the annual contract for the supply of vehicle loop cutting and streetlight repair service with Loop Electric, Inc., in the amount of $489,100; renewable annually thereafter for four consecutive one-year periods.
This contract is used by the General Services Division for various vehicle detector loop installations, including those that require horizontal boring, as well as for streetlight repair services. An increase in street paving, which necessitates vehicle lo op cutting, has led to a substantial increase in service demand. The additional compensation will enable the General Services Division to complete both current and upcoming vehicle loop cutting and streetlight repair projects through the contract's term.
Currently, there is $70,000 remaining on the contract. If approved, Amendment No. 1 will increase compensation by $330,000 for a revised not to exceed amount of $819,100 to allow the continuance of vehicle loop cutting and streetlight repair service to the term date of June 11,2025.
FISCAL IMPACT:
With the amended agreement and additional compensation, the department does have f unds within its Fiscal Year 2024 -25 budget in the General Fund and Capital Outlay Fund. The Department does not anticipate additional need from the General Fund for these services.
COUNCIL GOAL:
Reliable Infrastructure
ATTACHMENTS:
Signed Amendment