From
Gary Yakesch
Title
Ratify Amendment #5 to Lightasmic! for a decrease of $70,000 due to a reduction in Prairie Light displays and approve Amendment #6 to Lightasmic! to increase $31,000 on the current contract for LED light conversion costs and provide $40,000 on the renewal to cover added displays
Presenter
Rick Herold, Director Of Parks, Arts, and Recreation
Recommended Action
Approve
Analysis
On March 15, 2011 Council awarded a one year contract with four annual renewal options to Lightasmic!. The contract included a revenue sharing agreement as well as an annual capital outlay provision of $165,000 for the production of materials and equipment.
Throughout the term of the contract, the following amendments have been executed:
Amendment #1 - Executed on March 28, 2012; this amendment was the first of four available renewal options and added $35,000 to the capital outlay provision for walk thru park enhancements increasing the capital outlay to $200,000.
Amendment #2 - Executed on September 26, 2012; this amendment outlined an agreement to provide the City Of Round Rock displays.
Amendment #3 - Executed on November 5, 2012; this amendment added a one-time payment of $20,050 to supply materials and supplies for the City Of Round Rock park displays.
Amendment #4 - Executed on May 21, 2013; this amendment was the second of four renewal options and added an additional $35,000 to the capital outlay provision for production costs due to rising steel prices and changes in LED light costs increasing the capital outlay to $235,000.
Amendment #5 - Executed on December 15, 2014 this amendment was the third of four renewal options and reduced the amended contract by $70,000 due to a reduction in displays provided thus reducing the capital outlay provision to $165,000.
Amendment #6 - Will be executed with council approval under this action item; this amendment will be the fourth of four renewal options and will add $31,000 to the current contract for LED light conversion costs and $40,000 to the renewal for added displays. This amendment will increase the capital outlay provision under amendment #5 to $196,000 and increase the capital outlay provision under amendment #6 to $205,000.
Financial Consideration
Funds are available in FY 2014/2015 Prairie Light Budget 318410-68640 (capital outlay provision) and will be charged accordingly through the end of the current fiscal year. Funding for future fiscal years will be paid from that year's approved budgets.