Item Coversheet

CITY OF RIVIERA BEACH CITY COUNCIL
AGENDA ITEM SUMMARY

Meeting Date: 12/6/2017 
Agenda Category:CONSENT RESOLUTION
Subject: 

To approve an Addendum Master Tax-Exempt Lease/Purchase Agreement with U.S. Bancorp Government Leasing and Finance, Inc. for the lease/purchase of 16 Police Vehicles.

Recommendation/Motion: 

Staff recommends approval of the Addendum Master Tax-Exempt Lease/Purchase Agreement with U.S. Bancorp Government Leasing and Finance, Inc. for the lease/purchase of 16 Police Vehicles.

Originating Dept Police  Costs $673,005.66 
User Dept.Police Funding Source
AdvertisedNo Budget Account Number
Date   
Paper   
Affected PartiesNot Required   
Background/Summary: 

The Police Department is seeking the City Council's approval to enter into an Addendum Master Tax-Exempt Lease/Purchase Agreement with U.S. Bancorp Government Leasing to lease/purchase 16 Police Vehicles consistent with the City's Vehicle Replacement Plan. 

 

The total annual lease payment for sixteen (16) 2018 Chevrolet Tahoe Police Marked Units   is $224,335.22 per year, for a grand total of $673,005.66.  The interest rate is 1.95% and is financed in arrears, making the first payment due in FY2019.  This item has no fiscal impact on the FY2018 Budget.

 

These Police Vehicles will be delivered fully equipped with all emergency equipment (i.e. lights, sirens, prisoner cages, etc.) consistent with the existing fleet. The Department currently has approximately 30 Ford Crown Victoria vehicles that are 8-12 years old, and are in need of replacement. 

 

The acquisition of these vehicles will stabilize a much needed and mission critical resource within the Police Department.

 


 
Fiscal Years201920202021
Capital Expenditures$224,335.22$224,335.22$224,335.22
Operating Costs
External Revenues
Program Income (city)
In-kind Match (city) 
Net Fiscal Impact
NO. Additional FTE Positions
(cumulative)

III. Review Comments

A. Finance Department Comments:
 
B. Purchasing/Intergovernmental Relations/Grants Comments:
 
C. Department Director Review:
Contract Start DateDecember 6, 2017 
Contract End DateDecember 5, 2021
Renewal Start Date
Renewal End Date
Number of 12 month terms this renewal
Dollar Amount$673,005.66
Contractor Company Name

U.S. Bancorp

Contractor Contact

Lisa Albrecht

Documentation Specialist

Contractor Address3643 Spyglass Court
Green Cove Springs, Florida  32043
Contractor Phone Number303-585-4077
Contractor Emaillisa.albrecht1@usbank.com
Type of ContractOther
DescribeFinancing for Lease/Purchase of 16 Police Vehicles
ATTACHMENTS:
File NameDescriptionUpload DateType
Resolution_US_Bancorp_Addendum_Master_Lease_Purchase_Agreement_16_Police___.docResolution U S Bancorp Lease/Purchase 16 Police Vehicles11/29/2017Cover Memo
NJPA-RIVIERA_BEACH_CITY_OF-CC15706_9216-7_Quote.pdfQuotation - Chevy Tahoes11/29/2017Cover Memo
Recommendation_Letter_PD.pdfRecommendation Letter11/20/2017Cover Memo
AGREEMENT_-_US_BANCORP_-_16_Tahoe_Police_Vehicles_11-15-17.pdfAGREEMENT: US BANCORP MASTER LEASE AGREEMENT - 16 VEHICLES11/15/2017Agreement
REVIEWERS:
DepartmentReviewerActionDate
Police Madden, MichaelApproved10/18/2017 - 1:56 PM
PurchasingAnswererApproved10/18/2017 - 2:01 PM
Financesherman, randyRejected10/19/2017 - 2:35 PM
Police Madden, MichaelApproved10/20/2017 - 3:46 PM
PurchasingAnswererApproved10/20/2017 - 3:52 PM
Financesherman, randyRejected11/14/2017 - 12:56 PM
Police Madden, MichaelApproved11/20/2017 - 9:17 AM
PurchasingAnswererApproved11/20/2017 - 10:29 AM
FinanceReynolds, NydiaRejected11/20/2017 - 12:49 PM
Police Madden, MichaelApproved11/20/2017 - 1:02 PM
PurchasingAnswererApproved11/20/2017 - 1:05 PM
FinanceReynolds, NydiaApproved11/20/2017 - 1:13 PM
AttorneyAnswererApproved11/20/2017 - 1:48 PM
City ClerkRobinson, ClaudeneApproved11/20/2017 - 3:13 PM
City ManagerAnswererApproved11/29/2017 - 9:12 AM