ADMINISTRATIVE REPORT
MEETING DATE: June 11, 2025 AGENDA CATEGORY: Consent - Agreements TO: Honorable Mayor and City Council
FROM: Randy McKeegan, Finance Director
DATE: June 2, 2025
SUBJECT: Amendment No. 2 to Agreement No. 2024-157 with Loop Electric, Inc. (increasing compensation by $800,000; revised not to exceed $1,619,100 and extending the term by one year) 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 Divis ion for various vehicle detector loop installations, including those that require horizontal boring, as well as for streetlight repair services.
Per the terms of the contract, one amendment increasing the contract and/or extending the contract has been approved as follows:
Amendment 1 approved February 12, 2025; increase of $330,000 for a revised not to exceed amount of $819,100.
Staff recommend approval of Amendment No. 2 to extend the term by one year and increase compensation by $800,000 for a revised not to exceed amount of $1,619,100 to allow the continuance of vehicle loop cutting and streetlight repair service to the term date of June 11,2026.
FISCAL IMPACT:
Funds are budgeted in the General Fund and Capital Outlay Fund for this contract.
COUNCIL GOAL:
Reliable Infrastructure
ATTACHMENTS:
Partially Signed Amendment No. 2