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2018-0724
| 11. | Agreement | AUTHORIZE the Chief Executive Officer (CEO) to execute a five (5)-year license agreement commencing November 1, 2018 with Southern California Edison (“Licensor”) for the Blue Line Storage Yard located next to Division 11 in Long Beach at a rate of $117,848.33 annually with escalations of three percent (3%) annually for a total license value of $625,673 over the term. | | |
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2018-0763
| 12. | Informational Report | RECEIVE AND FILE status report on Access Services - ADA Paratransit. | | |
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2018-0706
| 13. | Program | CONSIDER:
A. AUTHORIZING the extension and execution of Memorandums of Understanding (MOU) by the Chief Executive Officer for Low Income Fare is Easy (LIFE) and Immediate Needs Transportation Programs (INTP) including transportation and administration for a period of six months beginning July 1, 2019 through December 31, 2019;
B. AMENDING the Fiscal Year (FY) 2019 Budget by $400,000 to increase the LIFE program from $14.1M to $14.5M due to Federal Transit Administration Section 5316 Job Access and Reverse Commute (Section 5316) funding received for the LIFE program;
C. AUTHORIZING the extension and execution of the Memorandums of Understanding (MOU) by the Chief Executive Officer for the Municipal, Included and other TAP Operators that are or will be participating in the LIFE program;
D. AUTHORIZING the extension and execution of Memorandum of Understanding (MOU) by the Chief Executive Officer for Support for Homeless on Re-Entry Program (SHORE), including transportation and administration for a period of two years beginning FY20, subject to availability of funds approved thro | | |
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2018-0753
| 14. | Program | CONSIDER:
A. AUTHORIZING the Chief Executive Officer to renew and/or replace the direct-pay letters of credit (“LOC”) and direct purchase revolving credit facility (“RCF”) to be provided by the banks described below, finalize negotiations with the recommended banks and enter into reimbursement/credit agreements and related documents associated with such LOCs and RCF;
1. Replace the LOCs currently being provided by Sumitomo Mitsui Banking Corporation (“Sumitomo”) and MUFG Union Bank, N.A. (“MUFG”), for the Proposition A commercial paper program with a LOC to be provided by Barclays Bank PLC (“Barclays”) for a commitment amount of $200 million for a 3 year term at an estimated cost of $13.5 million including interest, legal fees and other related expenses.
2. Replace the LOC currently being provided by Bank of America (“BANA”) of $75 million for the Proposition C commercial paper program with a revolving credit facility provided by Wells Fargo Bank, N.A. (“Wells Fargo”) for an estimated amount of $150 million (Metro currently has $75 million outstanding with Wells Fargo) for a | | |
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2018-0808
| | Informational Report | RECEIVE General Public Comment | | |
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